Opsona Therapeutics, a Dublin, Ireland-based developer of new treatments for inflammatory diseases, raised €33m (US$43m) in Series C financing.
The round was led by BB Biotech Ventures and Novartis Venture Fund, with participation from new investors Sunstone Capital, Baxter Ventures, Amgen Ventures and EMBL Ventures as well as existing investors Fountain Healthcare Partners, Roche Venture Fund and Seroba Kernel Life Sciences.
Founded in 2004 by Dr. Martin Welschof, CEO, Opsona is an immunology drug development company, focused on novel therapeutic approaches to key targets of the innate immune system associated with a wide range of major human diseases, including autoimmune and inflammatory diseases, transplant rejection, cancer, diabetes, Alzheimer’s disease and atherosclerosis.
The company intends to use the fund 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).
In conjunction with the funding, BB Biotech Ventures, Sunstone Capital and Baxter Ventures will join Opsona’s board of directors.