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Codiak BioSciences Closes $61M Series B Financing

NEW YORK (GenomeWeb) – Codiak BioSciences, a developer of exosome-based therapeutics and diagnostics, announced today that it has closed a $61 million Series B round of financing.

In November, the company announced that it had secured agreements for more than $80 million in Series A and Series B funding. Following the close of the Series B round, Codiak said it has raised a total of $92 million.

Both financing rounds were led by Arch Venture Partners and Flagship Ventures, with participation by the Alaska Permanent Fund, Alexandria Venture Investments, and Fidelity Management and Research Company.

"This financing is a strong indication of the promise of exosomes to improve human health," Codiak President and CEO Douglas Williams said in a statement. "With these additional resources we will continue to build our world-class team to realize the broad transformative potential of exosomes for multiple therapeutic and diagnostic uses."

Codiak was founded on technology licensed from the University of Texas MD Anderson Cancer Center that involves using exosomes to deliver therapies and analyzing their nucleic acid and protein contents for diagnostic purposes.