CoDa has 70 percent of its staff in New Zealand, including five scientists based at the University of Auckland, where Professor Green and his team are also based.

"This round of financing will allow CoDa to continue its global growth plans from New Zealand," explained Mr Andrew Kelly, executive director of BioPacificVentures, a leading life science company investor in New Zealand. "BPV is delighted to be able to help fund this."

Mr Murray Bain, acting deputy chief executive, science and innovation at MBIE commented, "We are excited to see one of our portfolio companies achieve significant commercial milestones like this. The additional funding will further assist in the development the next generation of wound healing drugs, in conjunction with funding that has been provided by MBIE through the TBG program."