Coda Biotherapeutics, a San Francisco CA-based preclinical-stage biopharmaceutical company, raised $28M in funding.
The round was led by Pacira BioSciences, Inc. with participation from MPM Capital, Versant Ventures and Silicon Valley Bank (SVB). As part of the financing, David Stack, chairman and CEO of Pacira Biosciences, has joined CODA’s board of directors.
The company intends to use the funds to expand operations and its business reach.
Led by Michael Narachi, president and CEO, Coda is a preclinical-stage biopharmaceutical company that leverages a gene therapy approach to deploy a chemogenetic strategy for treating neurological disorders. The company’s treatment aims to modulate specific neuronal circuits via adeno-associated virus (AAV)-mediated delivery of an engineered, inhibitory receptor by standard-of-care neurosurgical procedures. The receptor is designed to be quiescent in the transduced cells but will specifically and dose-dependently inhibit neurons when exposed to a novel, orally bioavailable small-molecule agonist.
Coda expects this treatment will produce substantially improved and durable results while potentially avoiding off-target/adverse effects of currently available treatments.