Biopharma companies don’t usually buy experimental drugs that don’t work.
But that’s exactly what CODA Biotherapeutics has done.
On Wednesday, South San Francisco-based CODA announced its acquisition of Attenua, another venture-backed, early-stage biotech company. In exchange for an undisclosed amount, CODA got three of Attenua’s drug candidates. Attenua had hoped they would work as therapies for chronic cough.