Russian Nanotechnologies, the state-run technology holding, and Domain Associates, a U.S. venture fund, are investing about $40 million in San Diego-based biopharmaceutical company CoDa Therapeutics.
The deal is the first joint investment between Domain Associates and Rusnano, as the company is known, according to an e-mailed press release. Domain is an investor in CoDa. Rusnano will invest through a subsidiary.
Rusnano teamed up with Domain Associates in March to invest $760 million in U.S. life science companies and build facilities in Russia. The companies plan to invest in about 20 U.S.-based health-care technology companies involved in pharmaceuticals, biotechnology and medical devices, the Moscow-based company said in March.