SOUTH SAN FRANCISCO, Calif., Feb. 5, 2020 /PRNewswire/ -- CODA Biotherapeutics, Inc., a preclinical-stage biopharmaceutical company developing a gene therapy-mediated chemogenetic platform, today announced it has completed the acquisition of Attenua, Inc. With the acquisition, CODA has obtained three small molecule drugs that have been shown to be safe and well tolerated in multiple clinical trials up to and including Phase II studies. CODA has engineered several chemogenetic receptors that can be specifically controlled by small molecule ligands, including clinical stage candidates from the Attenua portfolio. CODA plans to evaluate and advance these unique receptor-ligand pairs toward the clinic to treat neuropathic pain, focal epilepsy, and other neurologic diseases and disorders.
"We are fortunate to be able to acquire these three small molecule therapeutics that have a tremendous amount of high-quality drug development work already completed, one with a currently active IND. Prior to the acquisition, our team has engineered several chemogenetic ion channel receptors that can be specifically controlled by these clinical stage drugs. The robust data packages accompanying these assets will decrease time, cost, and risks as we move toward human clinical trials where we hope to demonstrate transformative results for patients," said Michael Narachi, President and Chief Executive Officer, CODA.
"The group of assets included in this transaction represents an excellent strategic fit and further advances CODA and its chemogenetic platform toward the clinic, which holds great promise to significantly change how we treat many challenging conditions and disorders," added Todd Foley, managing director at MPM Capital and member of CODA's Board of Directors.
Terms are not being disclosed.
About the CODA Platform
CODA's chemogenetic platform aims to reverse the aberrant neuronal activity underlying many neurological disorders. With chemogenetics, dysfunctional neurons are modified using optimized adeno-associated virus (AAV) vectors delivered directly to them by standard-of-care neurosurgical procedures. The AAV vectors encode ligand-gated ion channels (chemogenetic receptors) that are highly responsive to specific proprietary small molecule therapeutics but are otherwise inactive. The activity of these receptors, and thus the aberrant activity of the modified neurons, is controlled in a selective and tunable manner through administration of the small molecule to generate significant therapeutic benefit with minimal side effects.
About CODA Biotherapeutics
CODA Biotherapeutics, Inc., is a preclinical-stage biopharmaceutical company developing an innovative gene therapy platform to treat neurological disorders and diseases. The company is creating the ability to control neurons with its revolutionary chemogenetics-based technology. CODA is located in South San Francisco, CA. For more information, please visit www.codabiotherapeutics.com.
SOURCE CODA Biotherapeutics, Inc.