CODA Genomics Closes $1.6 Million Series B Financing
News Mar 01, 2006
CODA Genomics, Inc. has announced that it has closed a Series B funding of over $1.6 million. The round was led by the Life Science Angels, and includes venture capital firm Monitor Ventures and previous investors from the Tech Coast Angels.
The round has two representatives on the CODA Board of Directors, Ken Kelley from the Life Science Angels, and Neal Bhadkamkar from Monitor Ventures.
Dr. Robert J. Molinari, CEO of CODA comments, "We are delighted to have LSA and Monitor as our investment partners in CODA."
"LSA, with many experienced life science entrepreneurs as members, is ideally suited to identify and lead this investment. Monitor Ventures, with its extensive links and strategic insight into large biopharmaceutical clients can also greatly assist the company."
Kenneth Kelley said, "Life Science Angels is very excited about CODA's synthetic genes business. We believe their unique Translation Engineering™ solves many problems of protein expression and will be enabling of research in academia and in the biopharmaceutical industry."
Dr. Neal Bhadkamkar said, "Our team was excited by CODA for two reasons: robust, peer reviewed computational technology being applied to a fundamental problem that spans both life-science and industrial markets; and an outstanding team in every part of the company - science, operations, sales and the board."
In treating inflammatory bowel disease (IBD), physicians can have a hard time telling which newly diagnosed patients have a high risk of severe inflammation or what therapies will be most effective. Now researchers report finding an epigenetic signature in patient cells that appears to predict inflammation risk in a serious type of IBD called Crohn’s disease.