Biotech Startup Company Code Biotherapeutics Launches With $10 Million Seed Round

By James White Tuesday, April 27, 2021

Addressing genetic disorders and diseases is no simple task. However, startups and companies in the biotech business are actively pursuing novel treatments and delivery mechanisms to assist those afflicted by rare genetic diseases. As gene therapy and DNA technology continue to grow, entrepreneurs and scientists rapidly approach effective treatments. Code Biotherapeutics, a new biotech startup business, recently launched its company with $10 million in seed funding from interested investors in the industry.

“This is a very exciting day for all of us at Code Bio,” said Brian P. McVeigh, co-founder and CEO at the startup business. “We have selectively assembled a syndicate of top-tier investors, each bringing specialized areas of expertise and capabilities to the company that will enable us to rapidly deliver on the promise of our novel non-viral gene therapy approach. We are thrilled to partner with them as we continue to drive our discovery programs forward and strive to achieve important breakthroughs for patients with rare and prevalent genetic diseases.”

The seed funding for Code Biotherapeutics was driven by lead investors 4BIO Capital and UPMC Enterprises. Also supporting the biotech startup company were investors CureDuchenne Ventures, JDRF T1D Fund, New Enterprise Associates, and Takeda Ventures, Inc. Code Bio introduced a number of members to its Board of Directors at the biotech company, including Dima Kuzmin of 4Bio Capital and Rob Lin of UPMC Enterprises, among others. The new capital will help the biotech startup launch its non-viral gene therapies.

Test tube with DNA.

Solving Debilitating Genetic Diseases

Code Bio, headquartered in Greater Philadelphia, was founded by McVeigh as well as entrepreneurs Robert C. Getts and Lori A. Getts. The biotech business seeks to provide a novel, potentially re-dosable gene delivery platform to patients in an effort to cure debilitating genetic diseases.

3DNA, the proprietary synthetic vector designed by the company, has the potential to combat several different genetic disorders, including Duchenne Muscular Dystrophy (DMD) and Type 1 Diabetes. The DNA-based vector from Code Bio is capable of delivering genes both large and small and utilizes a dual-targeting strategy to prevent unintended protein bindings and minimize off-target toxicities. According to the startup company, the vector is easily produced in bulk and stored.

“At 4BIO we have always been dedicated to delivering lasting, curative treatments for chronic diseases through the use of advanced therapies,” said Dr. Kuzmin. “...I believe this is something the team at Code Bio has the ability to achieve. We are delighted to have supported the company throughout its start-up and business planning process and look forward to working closely with the team as they progress Code Bio’s novel pipeline of gene therapies.”

The startup biotech business is currently seeking out strategic partnerships to build out further programs for various genetic diseases.

Gene Therapy Industry Projections

Code Biotherapeutics is attempting to solve issues of complex manufacturing, delivery limitations, and re-dosability in the expanding gene therapy industry. Market research expects the global gene therapy market to reach $25.67 billion by 2027 at a CAGR of 33.6%. Code Biotherapeutics joins other startup companies in the industry, like Elevate Bio, in the pursuit of effective and scalable gene therapy treatments.

About the Author

Headshot of James White

James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.

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