Healthcare Industry News: HSMN NewsFeed
News Release - February 15, 2023
Codagenix Announces Close of $25 million Extension of Series BFunding supports continued clinical studies for pediatric RSV and universal influenza vaccine candidates as well as expanded indications for oncology vertical
FARMINGDALE, N.Y. and CAMBRIDGE, Mass., Feb. 15, 2023 -- (Healthcare Sales & Marketing Network) -- Codagenix Inc., a clinical-stage synthetic biology company with a rational virus design platform for live-attenuated viral vaccines and immuno-oncology therapeutics, today announced the completion of a $25 million Series B extension financing, with participation from a new investor, the Serum Institute of India Pvt. Ltd., along with existing investors Euclidean Capital and Adjuvant Capital.
The funding will also support additional cohorts in an ongoing Phase 1 study for CodaVax™-H1N1, a universal, live-attenuated influenza vaccine in 1H23 and expansion of the company's oncology program to new indications, utilizing its platform for rational, indication-focused virotherapeutics.
The advanced development of the company's intranasal COVID-19 vaccine candidate CoviLiv™ is currently being evaluated in the Solidarity Trial Vaccines (STV) which is supported by the World Health Organization (WHO) and the Serum Institute of India. STV is a placebo-controlled, Phase 3 safety and efficacy study with the primary endpoint of prevention of confirmed COVID-19 clinical disease. With completion of the STV study, Codagenix may be able to demonstrate primary efficacy of their COVID-19 vaccine platform potentially enabling CoviLiv to be developed as a future seasonal-COVID-19 vaccine.
"It is exciting to now have the Serum Institute of India as a direct investor, building upon our successful partnership in the development of CoviLiv and, of course, we thank Euclidean Capital and Adjuvant Capital for their continued support and belief in our differentiated platform," said J. Robert Coleman, Ph.D., M.B.A., Co-Founder and Chief Executive Officer of Codagenix. "This financing positions us well to advance our deep clinical pipeline, including live-attenuated vaccine candidates in RSV, that has the potential to meet a critical unmet need as well as further demonstrate our platform's ability to design custom virotherapeutics for solid-tumors."
About Codagenix, Inc.
Codagenix is a clinical-stage biotechnology company leading a new era of live vaccines and viral therapeutics. The company's breakthrough platform brings together live-attenuated virus design with cutting-edge codon deoptimization for powerful synthetic biology-based solutions to take on our biggest threats in infectious disease, cancer and animal health. Codagenix was founded based on technology developed in the laboratory of National Academy of Science member Dr. Eckard Wimmer at Stony Brook University; is supported by Adjuvant Capital, TopSpin Partners, and Euclidean Capital; and has ongoing research and license programs with various federal agencies. For more information, visit codagenix.com.
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