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Generate Biomedicines has raised $370 million in a Series B financing to enhance its machine learning-powered Generative Biology platform, aimed at drug development across various protein modalities. This funding will facilitate technology evolution, organizational scaling from 80 to 500 employees, and the establishment of new facilities for computational biology and data generation. The company plans to advance several preclinical programs by year-end 2023, showcasing its pioneering efforts in programmable biotherapeutics.
Codiak BioSciences (NASDAQ: CDAK) announced promising data from its Phase 1/2 trial on exoSTING, an engineered exosome therapeutic aimed at treating multiple solid tumors. The early results showed localized STING pathway activation and dose-dependent immune responses with no systemic exposure to the STING agonist. Tumor shrinkage was observed in both injected and non-injected lesions in some participants. The trial is ongoing, with further data expected in the first half of 2022 regarding objective response rates and recommended Phase 2 dosing.
Codiak BioSciences (Nasdaq: CDAK) announced significant preclinical findings at the SITC 2021 conference, showcasing its exosome-based therapeutics. The exoSTING™ candidate showed tumor suppression and improved survival in leptomeningeal disease models. A combination of exoSTING™ and exoIL-12™ achieved a 100% complete response rate when combined with anti-PD-1 therapy. Moreover, exoASO™-STAT6 demonstrated effective tumor targeting, supporting plans for clinical studies targeting hepatocellular carcinoma and myeloid-rich tumors, with an IND filing expected by year-end.
Codiak BioSciences (CDAK) reported its third-quarter 2021 financial results, highlighting a revenue increase to $1.2 million from $1.0 million year-over-year. The net loss was reduced to $21.7 million compared to $35.3 million in Q3 2020, despite ongoing clinical development costs. A strategic collaboration with Lonza aims to enhance exosome manufacturing capabilities, with a $65 million investment in services. Clinical trials for exoSTING and exoIL-12 are ongoing, though patient enrollment for exoIL-12 has faced delays due to COVID-19 restrictions.
Tessera Therapeutics has announced a collaboration with the Cystic Fibrosis Foundation to utilize its Gene Writing technology for developing treatments for cystic fibrosis. This innovative technology aims to correct genetic mutations causing the disease, which affects around 70,000 people worldwide. The partnership seeks to advance Gene Writers capable of making specific genetic corrections and introducing a functional CFTR gene, targeting a major mutation responsible for 70% of cases. This collaboration may pave the way for groundbreaking therapies in cystic fibrosis treatment.
Lonza has announced its acquisition of Codiak BioSciences' Lexington, MA facility, establishing itself as a strategic manufacturing partner for Codiak's exosome-based therapeutics pipeline. The deal includes approximately $65 million in in-kind manufacturing services, allowing Codiak to maintain its core expertise while Lonza gains access to proprietary exosome manufacturing technology. Together, they will create a Center of Excellence to advance exosome development, which is crucial for future therapies.
Codiak BioSciences (Nasdaq: CDAK) announced the presentation of three posters featuring preclinical data from its engEx™ Platform at the 36th Annual Meeting of the Society for Immunotherapy of Cancer (SITC 2021), scheduled for November 10-14, 2021. Chief Scientific Officer Sriram Sathyanarayanan will co-chair a session on engineered exosome therapeutics. Key presentations include data on exoSTING and exoASO-STAT6's therapeutic applications in oncological settings. An IND filing for exoASO-STAT6 is expected by year-end, showcasing Codiak's commitment to advancing exosome-based medicines.
On August 18, 2021, Codiak BioSciences (Nasdaq: CDAK) appointed Dr. Lini Pandite to its board of directors. Dr. Pandite is a board-certified oncologist and currently serves as Chief Medical Officer at Shattuck Labs, bringing significant experience in oncology drug development. Her leadership at Shattuck Labs facilitated the advancement of two therapeutic candidates into clinical trials within three years. Dr. Pandite's extensive background includes senior roles at Adaptimmune and GlaxoSmithKline, enriching Codiak's board with vital expertise to support its innovative exosome-based therapeutics.
Codiak BioSciences, Inc. (NASDAQ: CDAK) reported its second quarter 2021 financial results, highlighting total revenues of $0.9 million, up from $0.2 million in Q2 2020. However, net loss increased to $21.8 million from $15.9 million, driven by clinical and operational expenses. The company anticipates key clinical data releases for its exoSTING and exoIL-12 programs by year-end 2021 and plans to file an IND for exoASO-STAT6 in the second half of 2021. As of June 30, 2021, Codiak had approximately $113.7 million in cash and equivalents.
Codiak BioSciences, a clinical-stage biopharmaceutical company, announced its participation in the William Blair Biotech Focus Conference 2021. CEO Douglas E. Williams, Ph.D., will engage in two virtual panel discussions: one on Immuno-Oncology targets and another on Non-Viral Drug Delivery on July 14 and July 15, respectively. The panels will feature insights into innovative therapies and drug delivery systems. Live webcasts will be accessible on the company's website, with archived replays available for 30 days after the event.
