Hatfield Biotechnology Startup Raises $75M to Develop Genetic Medicines

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Recently Hatfield-based Code Biotherapeutics raised $75 million to develop genetic medicines that are based on technology aimed at increasing the applicability of these types of treatments, writes Brian Gormley for The Wall Street Journal.

The biotechnology startup delivers genetic medicines into cells using a proprietary technology it applies to its own therapeutics and those it is developing in collaboration with pharmaceutical companies.

Commonly, drugmakers deploy a virus to deliver genetic medicine into patients using viral vectors.

However, according to Brian McVeigh, Code’s co-founder and chief executive, viral vectors have limitations that hamper the genetic-medicine sector, including requiring large doses due to their lack of targeting capabilities. Additionally, viral-based treatments can only be given once.

Code is using technology acquired from Genisphere and intellectual property from University of Pennsylvania collaborators to work on developing genetic medicines that can be given multiple times.

The company’s delivery technology also uses a molecule that binds on the surface of targeted cells, which means that relatively low doses can be used.

Code is currently working on therapies for Duchenne muscular dystrophy and Type 1 diabetes.

“We have the potential to be a significant help for these patients if our approach works,” said McVeigh.

Read more about Code Biotherapeutics in The Wall Street Journal.

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