Date: 2013-10-02
Type of information: Series C financing round
Company: Opsona Therapeutics (Ireland)
Investors: Novartis Venture Fund (Switzerland), Fountain Healthcare Partners (Ireland), Roche Venture Fund (Switzerland), Seroba Kernel Life Sciences (Ireland), BB Biotech Ventures (Switzerland), Sunstone Capital (Denmark), Baxter Ventures (USA), Amgen Ventures (USA), EMBL Ventures (Germany), Omnes Capital (France)
Amount: €36 million
Funding type: Series C financing round
Planned used: Opsona will use the proceeds to conduct a two-part multi-centered, double blinded and placebo controlled clinical study to evaluate the safety, tolerability and efficacy of its lead product OPN-305 in renal transplant patients at high risk of Delayed Graft Function (DGF). This is the first clinical indication for OPN-305, a fully human monoclonal IgG4 antibody targeting Toll-like-receptor-2 (TLR2).
Others: * On October 2, 2013, Opsona Therapeutics has announced that it has raised an additional €3 million in a second closing of its previously announced Series C equity financing from new investor Omnes Capital. The extension brings the total raised by Opsona in this Series C financing to €36 million. On April 25th, 2013, Opsona raised €33 million (US $43 million) from Novartis Venture Fund, Fountain Healthcare Partners, Roche Venture Fund, Seroba-Kernel Life Sciences, BB Biotech Ventures, Sunstone Capital, Baxter Ventures, Amgen Ventures and EMBL Ventures.
The company will use the proceeds of this Series C financing to supplement funding a three-part multi-centered, double blinded and placebo controlled clinical study to evaluate the safety, tolerability and efficacy of its lead product OPN-305 in renal transplant patients at high risk of Delayed Graft Function (DGF) as the first clinical indication for the development of OPN-305. The clinical study has already commenced with successful recruitment of patients underway. Opsona's lead product is a humanized monoclonal IgG4 antibody targeting Toll-like-receptor-2 (TLR2) and has demonstrated activity in a number of animal models and was recently tested successfully in a phase I clinical trial in healthy volunteers and in a pilot cohort of renal transplant recipients.
* On April 29, 2013, Opsona Therapeutics, the innate immune drug development company, has announced that it has raised €33 million ($ 43 million) in an oversubscribed Series C financing. The participants in this Series C financing include existing investors, Novartis Venture Fund, Fountain Healthcare Partners, Roche Venture Fund and Seroba Kernel Life Sciences. The new investors joining the consortium are BB Biotech Ventures, Sunstone Capital, Baxter Ventures, Amgen Ventures, and EMBL Ventures. BB Biotech Ventures and Novartis Venture Fund led the Series C financing round. BB Biotech Ventures, Sunstone Capital and Baxter Ventures will be joining the board of directors.
Opsona is developing new treatments for inflammatory diseases. Its lead product is a fully human monoclonal IgG4 antibody (OPN-305) targeting Toll-like-receptor-2 (TLR2). The company has initiated a two-part multi-centered, double blinded and placebo controlled clinical study to evaluate the safety, tolerability and efficacy of OPN 305 in renal transplant patients at high risk of Delayed Graft Function (DGF) as the first clinical target indication for the development of OPN-305. The company was awarded a € 5.9 million non-dilutive grant by the European Union for clinical development of its anti-TLR2 antibody in solid organ transplantation including renal transplantation and the program has recently obtained EMA and FDA orphan drug status. Additional indications are currently being explored.
Therapeutic area: Inflammatory diseases
