Therapeutics

Codiak Bio's IPO Brings In $82M as Exosome Clinical Trials Begin

12 days ago   |   By Xconomy

Codiak BioSciences now has $82.5 million to fund clinical tests of a new class of medicines based on exosomes, tiny bubbles formed by cells that the company harnesses to carry therapeutic cargo. Late Tuesday, Codiak priced its offering of 5.5 million shares at $15 apiece, the midpoint of its projected $14 to $16 per share price range. Shares of the Cambridge, MA-based biotech are set to begin trading Wednesday on the Nasdaq under the stock symbol “CDAK.” Exosomes are extracellular vesicles that function like a messaging system between cells. Laden with proteins, genetic material, and other...
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