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CoDa Therapeutics Inc . said it has raised an additional $20 million in a second close of its Series B round to expand late-stage clinical trials of its ulcer and wound therapy.

CoDa, based in San Diego, develops treatments for wound care, inflammation and tissue repair, including a drug to address wounds that heal poorly, such as venous leg and diabetic foot ulcers.

The financing came from a subsidiary of Rusnano called RusnanoMedInvest. It's the first investment under a joint agreement between Rusnano and Domain Associates that was reached in March, CoDa said. All current investors participated including Domain, GBS Venture Partners and BioPacificVentures.

It brings the total funding raised under the Series B to nearly $40 million, CoDa said.

A portion of the financing will be used to expand clinical trials of its lead product, Nexagon, for additional indications including diabetic foot ulcers, CoDa said. Nexagon was shown to be safe and tolerable following administration to more than 380 wounds on more than 180 subjects, CoDa said, and enables tissue repair through regulating gap junction proteins and intercellular interaction.

CoDa said it recently started a 160-patient Phase II diabetic foot ulcer trial in the U.S. and will include additional clinical sites in Russia over the coming months. CoDa is also conducting a 300-patient Phase IIb trial of Nexagon for the treatment of venous leg ulcers in the U.S., New Zealand and South Africa.

Nexagon was highly effective as a wound therapy for venous leg ulcers in an earlier clinical trial, it said.

The transaction also involves a licensing of intellectual property rights for Nexagon in Russia, potentially accelerating its availability on the Russian market, CoDa said. The company said it will receive an upfront product payment and royalties based on sales.

In October 2011, Square 1 Bank said it had extended CoDa a $6 million term loan, six months after the company raised $19.2 million in Series B funding.