Opsona Therapeutics has raised an additional EUR3m (USD4m) 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 EUR36m (USD48.6m). On 25 April 2013, Opsona raised EUR33m (USD43m) 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-centred, 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. 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.
Dr Martin Welschof, chief executive of Opsona, says: "I am delighted with Omnes Capital joining the high quality series C consortium of venture and corporate venture firms. The second closing of our series C with Omnes Capital further validates the great medical and commercial potential of our drug candidate OPN-305."
Dr Bruno Montanari, life sciences director, Omnes Capital, adds: "I am looking forward to be moving Opsona’s lead product OPN-305 through the well-designed Phase II efficacy study to prevent delayed graft function (DGF) in renal transplantation, an indication with major unmet medical need and attractive commercial potential. In addition I am interested to be exploring the full potential of OPN-305 in additional disease indications."
