Codagenix, a vaccines and viral treatments developing company for diseases, who produces from flu and respiratory viruses to dengue, raised a $ 20 million new funding. The new round of investment of the company was driven by Adjuvant Capital with coupled participation of Topspin Partners and Euclidean Capital.
Older patients are at more risk to serious consequences from common influenza and RSV. Codagenix will focus on using the fund on clinical development of common vaccines.
Codagenix uses ‘codon deoptimization’ technology and replace deadly pathogens with milder strains to make relatively harmless versions of viruses as well as viral therapies.
The company is willing to use new funding for vaccines against RSV and influenza through phase 1 trials and transfer its oncology program for breast cancer treatment to phase 1 clinical trials. Two new vaccine development programs will be launched for what the company has called “forgotten public health concerns.”
Managing Partner of Adjuvant Capital, Glenn Rockman said, “Codagenix is prepared to address ongoing public health problems in which existing vaccines have made tremendous improvements but still do not achieve their desired disease goals. Codagenix technology has the potential to succeed where other immunization attempts have plucked. It’s an honor to support the continued clinical development of RSV and influenza programs.”
Founded in 2012 as a branch of Stony Brook University in New York, Codagenix received support from government agencies such as the National Institutes of Health, the Department of Agriculture, and the U.S. Army for its vaccines against dengue, flu, swine flu, RSV, as well as food and the oral disease virus.
Altogether, the company raised $ 38 million from private nonprofits, venture investors, and $ 11 million from federal funding.