Codiak BioSciences, an early stage biotech developing exosome therapeutics for various diseases, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering. The company previously filed to raise $86 million in April 2019 but withdrew the following July.
The company's lead program, exoSTING, is an exosome therapeutic candidate engineered with its engEx Platform. The company is developing exoSTING for the treatment of multiple solid tumors. Codiak believes exoSTING has demonstrated encouraging preclinical activity, and it expects to initiate a Phase 1/2 trial in the 2H20, with preliminary data expected by mid-2021.
The Cambridge, MA-based company was founded in 2015 and booked $1 million in collaboration revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol CDAK. Codiak BioSciences filed confidentially on August 6, 2020. Goldman Sachs, Evercore ISI, William Blair and Wedbush PacGrow are the joint bookrunners on the deal. No pricing terms were disclosed.
