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Codiak BioSciences (Nasdaq: CDAK) announced that Benny Sorensen, M.D., Ph.D., has resigned as Senior VP of Strategic Projects to become CEO of Hemab Therapeutics, focusing on rare bleeding and thrombosis disorders. Dr. Sorensen, who joined Codiak in 2016, will remain involved as a member of the Scientific Advisory Board and will consult through upcoming clinical data readouts for exoSTING™ and exoIL-12™. Codiak's CEO expressed gratitude for Sorensen's contributions and noted the recent appointment of Jennifer Wheler, M.D., as Chief Medical Officer as a strengthening move for their clinical pipeline.
Codiak BioSciences (Nasdaq: CDAK) has announced the promotion of Dr. Sriram Sathyanarayanan to Chief Scientific Officer and Dr. Konstantin Konstantinov to Chief Technology Officer. Dr. Sathyanarayanan has been pivotal in advancing Codiak’s R&D, driving therapeutic candidates through clinical trials. Meanwhile, Dr. Konstantinov has built a scalable manufacturing process for exosome-based therapeutics. Codiak focuses on exosome engineering to develop treatments across various diseases, leveraging its proprietary engEx Platform.
Codiak BioSciences, a clinical-stage biopharmaceutical company focused on exosome-based therapeutics, will have its CEO, Douglas E. Williams, Ph.D., participate in the Goldman Sachs 42nd Annual Global Healthcare Virtual Conference.
The event is scheduled for June 10 at 3:00 PM ET. A live webcast will be available on the company’s website, with an archived replay accessible for 30 days post-event.
Codiak leverages its proprietary engEx™ Platform to develop engineered exosomes aimed at treating various diseases, including oncology and neurology.
Codiak BioSciences (CDAK) presented promising preclinical data at the ASGCT 2021, demonstrating the potential of its engEx™ Platform for engineered exosomes in multiple therapeutic areas. Key findings include the exoASO-STAT6's ability to achieve up to 94% tumor growth inhibition and strong immune responses via the exoVACC platform against SARS-CoV-2. The company plans to file an IND for exoASO-STAT6 by year-end while continuing development in oncology and neurology. These advancements position Codiak favorably in the evolving field of exosome-based therapeutics.
Codiak BioSciences announces the appointment of Jennifer Wheler, M.D. as Chief Medical Officer, enhancing leadership in oncology drug development. Wheler brings over 20 years of experience, most recently at Bicara Therapeutics. Benny Sorensen, M.D., Ph.D., who has been pivotal in advancing Codiak's clinical programs, is now Senior Vice President of Strategic Projects. This leadership transition aims to strengthen Codiak's focus on engineered exosomes for cancer treatment, with ongoing clinical trials and an IND submission planned for later this year.
Codiak BioSciences, Inc. (NASDAQ: CDAK) reported its Q1 2021 financial results, showing total revenues of $13.2 million, a significant increase from $0.1 million in Q1 2020. This growth was mainly due to recognizing $10.9 million in deferred revenue linked to a discontinued collaboration with Jazz Pharmaceuticals. The company posted a net loss of $10.3 million, improving from $22.5 million last year. R&D expenses decreased to $16.6 million as key assets advanced, while G&A expenses rose to $6.6 million due to increased personnel costs. Codiak has $130.3 million in cash and equivalents.
Codiak BioSciences (Nasdaq: CDAK) announced the presentation of data from its engEx™ Platform at the 24th Annual Meeting of the American Society of Gene and Cell Therapy (ASGCT) from May 11-14, 2021. The presentation will cover four abstracts showcasing preclinical studies on engineered exosomes for various therapeutic applications, including oncology and neurology. The company aims to leverage its platform for developing therapeutics targeting previously undruggable pathways and enhancing immune responses.
Codiak BioSciences (NASDAQ: CDAK) announced the online publication of findings on exoSTING, an engineered exosome therapeutic candidate in Phase 1/2 clinical trials. The study indicates exoSTING's potential to stimulate a broad immune response without harming intratumoral T cells, making it a promising option for treating multiple solid tumors. The exosome-based therapy shows over 100-fold increased potency in tumor models, improved tumor retention, and lower systemic inflammation compared to free STING agonists. Initial proof-of-concept data is expected in mid-2021.
Codiak BioSciences has reported encouraging preclinical and clinical data on its exosome-based therapies, exoASO-STAT6 and exoIL-12, at the AACR Annual Meeting 2021. The exoASO-STAT6 demonstrated potent anti-tumor activity in various preclinical models, with a complete tumor response observed in 60% of instances. The IND submission for exoASO-STAT6 is expected in H2 2021. Additionally, exoIL-12 showed a favorable safety profile in healthy volunteers, demonstrating no systemic exposure and no related adverse events. These advancements highlight the potential of Codiak's innovative exosome platform in cancer treatment.
