4BIO Capital Portfolio Company Code Biotherapeutics Closes an Oversubscribed $75 Million Series A
London & Greater Philadelphia – 4BIO Capital (“4BIO” or “the Group”), an international venture capital firm focused solely on the advanced therapies sector, today announces its investment in an upsized and oversubscribed $75 million Series A financing round in its portfolio company Code Biotherapeutics, Inc. (“Code Bio” or “the “Company”), a biotechnology company pioneering targeted non-viral delivery of genetic medicines. 4BIO actively participated in Code Bio’s start-up process and co-led its seed financing round.
The round was led by Northpond Ventures, with participation from new investors Amgen Ventures, Hatteras Venture Partners and UCB Ventures and existing investors New Enterprise Associates, CureDuchenne Ventures, the JDRF T1D Fund, UPMC Enterprises and Takeda Ventures. Proceeds from the round will enable Code Bio to advance its lead programs in Duchenne Muscular Dystrophy (DMD) and Type 1 Diabetes (T1D) towards IND-enabling studies, expand its pipeline and platform applications, and further scale manufacturing and operations.
Code Bio’s 3DNA® platform has demonstrated the potential to deliver various genetic medicines to multiple cell types in a tissue-targeted, re-dosable manner, which enables its use across a broad range of genetic disorders. The 3DNA® platform is designed to fully unlock the potential of genetic medicines and overcome key limitations of other delivery approaches.
Dr Dmitry Kuzmin, Managing Partner at 4BIO Capital and Board Member at Code Bio, commented: “With this latest round, 4BIO continues to demonstrate our strong capability in company creation. Having worked closely with Code Bio since its inception, we have supported the Company as it has made significant progress with the signing of its first partnership and development of its pioneering 3DNA® delivery platform. We are delighted to be investing alongside an impressive array of international investors to support the advancement of Code Bio’s lead programs in Duchenne Muscular Dystrophy and Type 1 Diabetes, two debilitating conditions which are underserved by existing therapies.”
Brian P. McVeigh, Code Bio Co-Founder, Chairman, and Chief Executive Officer said: “Patients with rare and prevalent genetic diseases, and their caregivers, are in need of breakthrough treatments that will truly make a difference in their lives. We’re energized by the confidence these high-caliber, top-tier investors are demonstrating through their support as we drive our discovery programs forward and strive to rapidly deliver on the promise our proprietary synthetic DNA-based, non-viral genetic medicines delivery platform holds.”