Rusnano MedInvest, part of Rusnano, helps the US-based biopharmaceutical company, previously invested in by Nestle-backed BioPacific Ventures, raise a series B extension.

Rusnano MedInvest, part of Rusnano, has helped US-based biopharmaceutical company CoDa Therapeutics raise $20m.

BioPacificVentures, a collaboration between Nestle-backed inventages, New Zealand venture capital firm Direct Capital, and life science institution AgResearch. previously backed Coda. Rusnano’s investment means Coda’s B round has now raised nearly $40m.

Other backers of Coda are venture firms Domain Associates and GBS Ventures.