Opsidio, a Bryn Mawr, PA-based biotech company developing monoclonal antibodies to treat fibrotic and remodeling diseases, closed on the first tranche of a bridge financing.
The round – of undisclosed amount – was led by BioAdvance and other private investors.
The company will use the funds to prepare the lead drug candidate for manufacturing, and plan to be in clinical testing within two years.
Led by Martin D. Phillips, M.D., CEO, Opsidio develops monoclonal antibodies to treat fibrotic and remodeling diseases, such as Idiopathic Pulmonary Fibrosis, Chronic Kidney Disease, Systemic Sclerosis and severe asthma.
The company also has additional facilities in Ann Arbor, MI.