MPM, Versant launch gene therapy play Coda

Coda Biotherapeutics Inc. (South San Francisco, Calif.) debuted with a $19 million series A round led by seed investors MPM Capital and Versant Ventures. New investors Astellas Venture Management and Novartis AG (NYSE:NVS; SIX:NOVN) also participated.

Coda is developing gene therapies to express neurotransmitter receptors that are activated by undisclosed small molecules to treat neurological disorders. The company's initial focus is chronic neuropathic pain...