Ossianix, Inc., a Philadelphia, PA-based biopharmaceutical company that develops novel biopharmaceuticals for a variety of therapeutic areas, has received a strategic investment of undisclosed amount from H. Lundbeck A/S.
The investment, which was made in the form of a Convertible Promissory Note, will enable the company to generate biopharmaceuticals for the treatment of nervous system disorders. Ossianix uses its proprietary single domain antibody platform modeled on the shark vNAR structure, which is designed to deliver products to multiple target classes.
Founded in 2011 by CEO Frank S Walsh and Corey Goodman and located in the University City Science Center in downtown Philadelphia, the company has produced a high-quality shark single domain VNAR phage library and has drug discovery programs ongoing in a variety of therapeutic areas both alone and with corporate partner Lundbeck, which will retain the right to negotiate for certain products and technologies arising from the research at Ossianix.
The company is also funded by BioAdvance and the ALS Association.