Dr. Eisenbud Former President of American Academy of Wound Management

San Diego, California – May 2, 2011 – CoDa Therapeutics, Inc. announced today that it has named David E. Eisenbud, MD, as CMO (Chief Medical Officer). The appointment of Dr. Eisenbud is key to the continuing development of novel targeted therapies that address major unmet medical needs in inflammation, wound-healing and tissue repair. The expansion of the management team follows the closing of a $19.2 million Series B financing round two weeks ago.

“CoDa has worked with Dr. Eisenbud in a consulting capacity since 2010, and we are excited that he has agreed to join the Company as its Chief Medical Officer,” CEO Bradford Duft says.

“As biotech companies navigate the development of drug therapies and investors understandably expect validation milestones, the clinical trial has become a pivotal point for success. And as trials become larger and more costly, managing uncertainty as well as the regulatory process is critical,” Duft remarked. “We believe that Dr. Eisenbud’s experience and capabilities will be key to our ongoing success and we are delighted to have him as part of our management team.”

In 2010 CoDa announced positive results from its Phase 2 trial for treating patients with venous leg ulcers. Dr Eisenbud, former President of the American Academy of Wound Management, described the results as “extremely exciting.”

“CoDa’s technology and the demonstrated healing results from its lead product, Nexagon^® – as well as its ability to suppress inflammation – are remarkable. I am impressed by the clinical data that have been generated to date, all of which suggest safety and outstanding efficacy for this compound,” said Dr. Eisenbud.

“This is a tremendous opportunity to assist the established CoDa team to progress the clinical development of Nexagon^® and, if successful, provide a new
therapeutic weapon for patients battling venous leg ulcers and potentially other chronic wounds.”

Dr. Eisenbud has over 20 years of experience as a vascular surgeon with particular expertise in wound evaluation and management. In addition to his role as Medical Director of the Overlook Hospital Wound Healing Program in Summit, NJ, Dr. Eisenbud is also Managing Partner at Millburn Surgical Associates (Millburn, NJ), a multi-physician group performing general and vascular surgery, noninvasive vascular laboratory evaluations, and wound care. Founder of Advanced BioHealing, Inc., a medical device firm commercializing cell-based wound healing therapies, Dr. Eisenbud has designed, managed, served as principal investigator, and/or reported to FDA many wound-healing clinical trials. Dr. Eisenbud earned his B.S. (Chemistry,1976) M.S. (Chemistry 1979,) M.D. (1981,) and M.B.A. (1997) degrees from Yale University, the University of Chicago, the Pritzker School of Medicine, and New York University Stern School of Business, respectively.

About CoDa Therapeutics Inc. – CoDa Therapeutics is a clinical stage biotechnology company focused on developing novel targeted therapies that address major unmet medical needs in inflammation, wound-healing and tissue repair. The company is pioneering a new field of science: gap junction modulation using a new class of therapeutics that can modulate wound responses and reduce inflammation. CoDa has two open INDs and has completed two Phase 1
clinical trials in skin and eye, where Nexagon^® was shown to be safe and tolerable following administration to over 250 wounds on more than 60 subjects. CoDa’s technology, which can be applied topically, been shown to work across a wide variety of wound and inflammatory settings and conditions. CoDa presently has issued patents in the US, Europe and elsewhere, and pending applications in more than a dozen other patent families directed to methods and compositions for the treatment of acute wounds, chronic wounds, scarring, abnormal scarring, inflammation and pain, fibrosis, surgical adhesions, and orthopedic procedures, as well as combination therapies and improved medical devices.

About NEXAGON^® – The active ingredient in NEXAGON^®, which has been shown to work across a wide variety of tissues and conditions, is CODA001, a natural, unmodified antisense oligonucleotide that down-regulates the key gap junction protein connexin43 to dampen inflammatory responses and enhance healing. Data shows that for optimal healing connexin43 is normally dialed-down at the edges of acute wounds (i.e., wounds that will heal normally).

Conversely, other data demonstrate that connexin43 is wrongly up-regulated at the edge of chronic wounds (i.e., wounds that are difficult to heal such as venous and diabetic ulcers). CoDa believes that one can better target available medical options and design more effective woundhealing alternatives by devising a therapeutic approach based on biological mechanisms naturally at work or conversely, at fault, in a given situation. The answer is thought to lie in connexin43, which can be seen as a “master switch” in wound healing that is temporarily turned “off” for superior healing of acute wounds, and when left “on” can lead to the unwanted inflammation and/or stalled healing characteristic of chronic wounds.

For further information please contact:

Brad Duft, CEO, CoDa Therapeutics, Inc.
Phone: +1 858-344-0755
E-mail: brad@codatherapeutics.com

The Ruth Group (on behalf of CoDa Therapeutics in the US)
Josh Drumm – Investors (646-536-7006 / jdrumm@theruthgroup.com)
Eric Reiss/Jason Rando – Media (646-536-7032/7025 /
ereiss@theruthgroup.com/jrando@theruthgroup.com)