Exosome therapy developer Codiak Biosciences – based on research at Gothenburg and MD Anderson Cancer Center – has filed to raise up to $100m.
Codiak Biosciences, a US-based exosome drug developer, refiled for an initial public offering on Wednesday.
The company had previously filed to raise up to $86.3m in an offering on the Nasdaq Global Select Market in April 2019 before withdrawing its application three months later. It has now set an initial target of $100m for an IPO on the same market.
Founded in 2015, Codiak is developing drugs to treat diseases with high unmet medical need that are based on engineered exosomes: vesicles that function as intercellular transfer mechanisms for biologically active macromolecules.
The IPO proceeds will support a phase 1/2 clinical trial for the company’s lead product candidate, exoSTING, in injectable solid tumours, as well as a phase 1 trial for a second candidate, exoIL-12, covering healthy volunteers and early-stage cutaneous T cell lymphoma sufferers.
Codiak also plans to put some of the…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
