CoDa Therapeutics, Inc., a San Diego, CA-based biopharmaceutical company focused on the development and commercialization of therapeutics for wound care, inflammation and tissue repair, has received a $6m term loan from Square 1 Bank.
The company, which recently raised $19.2m in venture capital funding (read here), is working on a drug therapy to address wounds that heal poorly, including venous leg and diabetic foot ulcers, based on a new platform technology known as “Gap Junction Modulation”.
Led by Co-Founder, President, CEO, and Director Bradford J. Duft, CFO David Pool, and COO Tracey Sunderland, CoDa has two open INDs and has completed three Phase 1 clinical trials in skin and eye, where its Nexagon® was shown to be safe and tolerable.
The company has also issued patents and pending applications in more than a dozen other patent families directed to methods and compositions for the treatment of acute wounds, chronic wounds, scarring, abnormal scarring, inflammation and pain, fibrosis, surgical adhesions, and orthopedic procedures, as well as combination therapies and improved medical devices.
CoDa also operates offices in Auckland, New Zealand.