Codiak BioSciences closes $76.5 million Series C financing

Codiak BioSciences (a Texas based exosome therapeutics company), announced the closing of a Series C financing round of $76.5 million. In its two years as a company Codiak's funding totals $168.5 million. Codiak's initial investors, including ARCH Venture Partners, Flagship Pioneering, Fidelity Management and Research Company, the Alaska Permanent Fund, and Alexandria Venture Investments, participated in the Series C round, and were joined by new investors, including Qatar Investment Authority, Boxer Capital of the Tavistock Group, Sirona Capital, EcoR1 Capital, and Casdin Capital.

Codiak intends to use the proceeds of the Series C financing to advance its initial product candidates into clinical trials, and to continue to develop the company's transformational exosome therapeutic platform. 

"Investors are clearly seeing the versatility of exosomes as a therapeutic platform with broad utility and the capacity to address currently undruggable targets, offering multiple paths to clinical and commercial success," said Doug Williams, Ph.D., president and CEO. "Codiak has created a proprietary platform for exosome design and manufacturing that allows for precise targeting of important molecular pathways involved with human disease."