Long Island, NY. Nixon Peabody LLP advised biotechnology startup Codagenix in securing $1.5M private investment towards the development of its respiratory syncytial virus (RSV) live-attenuated vaccine. The $1.5M was provided by Long Island–based venture capital firm TopSpin Partners, together with an additional $1.5M secured through the National Institutes of Health’s Small Business Innovation Research program.
According to the Centers for Disease Control and Prevention, over 177,000 hospitalizations among patients age 65 and older and over 57,000 hospitalizations among children age 5 years and under are caused by RSV in the U.S. each year.
The $3M public and private investment in Codagenix will go towards the preclinical manufacturing of the vaccine and the phase 1 clinical trial to test the vaccine’s immunogenicity and safety. The clinical trial is slated to begin in Spring 2018.
Nixon Peabody’s deal team was led by Corporate & Finance partner Allan Cohen and associate Jason Chimon.