4BIO Capital Co-leads $10 Million Seed Financing in Code Biotherapeutics
LONDON & BOSTON – 4BIO Capital (“4BIO” or “the Group”), an international venture capital firm focused solely on the advanced therapies sector, today announces that it has co-led a $10 million Seed financing round in Code Biotherapeutics, Inc. (“Code Bio” or the ”Company”), a next generation gene therapy company pioneering the development of targeted non-viral gene therapies for rare and prevalent genetic diseases. 4BIO actively participated in the start-up process and co-led the financing alongside UPMC Enterprises, with participation from CureDuchenne Ventures, The JDRF T1D Fund, New Enterprise Associates, and Takeda Ventures, Inc.
Code Bio has developed a proprietary synthetic DNA-based vector, called 3DNA®, that has demonstrated the potential to deliver genes of all sizes to multiple cell types as a re-dosable therapy, enabling utility across a broad range of genetic disorders. The Company will use the financing to aid the development of its pipeline of novel gene therapies to treat rare genetic disorders and advance discovery programs in rare diseases such as Duchenne Muscular Dystrophy (“DMD”), a debilitating genetic disorder caused by mutations in the dystrophin gene, and Type 1 Diabetes (“T1D”), a disease that affects approximately 1.6 million individuals in the U.S. The company is also actively engaging in partnership discussions in strategic areas of interest.
As part of the financing, Dima Kuzmin Ph.D. FRSB, Managing Partner of 4BIO Capital will join Code Bio’s Board of Directors, alongside other new appointees that include Rob Lin, Ph.D., CFA, of UPMC Enterprises; Ed Mathers of New Enterprise Associates; and Victor Stone, M.D., of Takeda Ventures, Inc.
Dr. Dima Kuzmin, Managing Partner at 4BIO Capital, said: “At 4BIO we have always been dedicated to delivering lasting, curative treatments for chronic diseases through the use of advanced therapies. With next-generation technological approaches, bold thinking, and a focus on meaningful patient outcomes, I believe this is something the team at Code Bio has the ability to achieve. We really enjoyed supporting the team throughout their start-up process, and value the opportunity to contribute to the business plan and strategic direction of this newly formed company. We are delighted to be investing alongside UPMC Enterprises, CureDuchenne Ventures, The JDRF T1D Fund, New Enterprise Associates, and Takeda Ventures, Inc. and look forward to working closely with them and the Code Bio team, as they progress its novel pipeline of gene therapies.”
Brian P. McVeigh, Co-Founder, Chairman and Chief Executive Officer at Code Bio and a Venture Partner at 4BIO Capital, commented: “This is a very exciting day for all of us at Code Bio. We have selectively assembled a syndicate of top-tier investors, each bringing specialized areas of expertise and capabilities to the company that will enable us to rapidly deliver on the promise of our novel non-viral gene therapy approach. We are thrilled to partner with them as we continue to drive our discovery programs forward and strive to achieve important breakthroughs for patients with rare and prevalent genetic diseases.”