Omeicos Therapeutics, a Berlin, Germany-based biopharmaceutical company, raised €17m in Series C financing.
The round was led by Forbion, contributing €12.5m from its recently launched Forbion IV Fund, with participation from existing investors Vesalius Biocapital II S.A. SICAR, Remiges BioPharma Fund, SMS Group GmbH, KFW Group, VC Fonds Technologie Berlin, High-Tech Gründerfonds and The Falck Revocable Trust.
Led by Dr. Robert Fischer, CEO and CSO, Omeicos is developing small molecule therapeutics for the prevention and treatment of cardiovascular and ophthalmic diseases. Epoxyeicosanoids are naturally occurring, but metabolically unstable, metabolites of omega-3 fatty acids that can activate anti-inflammatory, anti-arrhythmic and cardio protective pathways in heart cells. Its first-in-class small molecules are metabolically robust, synthetic analogs of epoxyeicosanoids. These can be administered orally and have shown improved biological activity and pharmacokinetic properties compared to their natural counterparts.
In July, Omeicos announced that a Phase I safety and tolerability study for its lead compound, OMT-28, designed for the treatment of atrial fibrillation, met its primary endpoint and that it intends to accelerate initiation of a Phase II trial.
The proceeds from this round will finance PROMISE-AF, a placebo controlled, double-blinded, randomized, dose finding Phase II study on OMT-28 in maintenance of sinus rhythm after electrical cardioversion in patients with persistent atrial fibrillation.
As part of the financing round, Holger Reithinger, Ph.D., General Partner at Forbion, will join the Omeicos Board of Directors.