CoDa Therapeutics BPV Press Release

25 Sep 2008

CoDa Therapeutics and BioPacificVentures today announced an investment of US$3 million in CoDa Therapeutics. With BioPacificVentures investing alongside existing venture investors Domain Associates and GBS Partners, CoDa has now received US$23 million in its Series A financing.

CoDa is focused on novel wound care technologies based on unique targets and mechanisms of action that have been demonstrated to dramatically improve healing in multiple tissue types following a single therapeutic application.

"We are extremely pleased to extend our Series A financing to US$23 million and to be able to add another prestigious and experienced life sciences investor like BioPacificVentures to the team," stated Bradford J. Duft, President and Chief Executive Officer of CoDa. "This Series A funding extension will allow CoDa to continue to expand its clinical development plans following the filing of its first IND earlier this year."

"We are extremely impressed with the progress that the CoDa management team have made in the clinical development of its Nexagon^® drug product candidate for the enhancement of healing in skin and eye wounds, and we look forward to working with Coda’s management team and Domain and GBS to support this exciting technology," said Howard Moore of BioPacificVentures. “It is pleasing to be an investor in a company that has its roots in world class New Zealand science and is now progressing clinical development in New Zealand supported by a world class management team”.

About Nexagon^®

CoDa's technology includes the company's lead drug product Nexagon^®, a patented small anti-connexin oligonucleotide that has been shown in numerous models to downregulate the proteins that form gap junctions and reduce cell to cell communication post-injury. Preclinical studies have shown that a single topical application of Nexagon^® reduces lesion spread (cell death), swelling, inflammation, scarring and time to wound closure in a variety of tissue types including the eye, skin, spinal cord, and brain. The active ingredient in Nexagon^®, a short-acting, natural oligonucleotide, is rapidly degraded if taken up in the bloodstream and no toxicities have been observed to date.

About CoDa Therapeutics, Inc.

CoDa Therapeutics, Inc. is a San Diego-based pharmaceutical company focused on the development and commercialization of wound care and tissue repair therapeutics based on gap junction modulation. A Coda Therapeutics facility in Auckland is managing initial clinical trials in New Zealand and elsewhere in cooperation with the Company. For more information, please contact CoDa at info@codatherapeutics.com .

About BioPacificVentures

BioPacificVentures based in Auckland, New Zealand, is one of Australasia’s leading life science venture capital funds www.biopacificventures.com with a focus on investing in human health, nutrition and ag-biotechnology.

About Domain Associates

Domain Associates is a leading life science venture capital firm, with offices in Princeton, NJ and San Diego, CA.

About GBS Venture Partners

GBS Venture Partners is a leading Australian life science venture capital group. The GBS team has been investing in the development and commercialisation of technology from Australia and New Zealand since 1996 and has played founding investor roles in companies with a combined market capitalisation of more than $2 billion.