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Venture firms queue up to back €33m Opsona Series C round

29 Apr 2013

OpsonaBB Biotech Ventures and Novartis Venture Fund have led a €33m Series C financing round for autoimmune system and inflammatory disease drug developer Opsona.

Novartis had previously invested in the business alongside Fountain Healthcare Partners, Roche Venture Fund and Seroba Kernel Life Sciences, who also took part in the Series C.

New investors included Sunstone Capital, Baxter Ventures, Amgen Ventures and EMBL Ventures.

Opsona said it would use the proceeds to conduct a two-part clinical study to evaluate the safety, tolerability and efficacy of its lead product, which could eventually have application potential in treatinf arthritis, cancers, diabetes and lupus.

BB Biotech managing director Martin Muenchbach said, “We are excited to further advance Opsona’s lead product OPN-305 into a well-designed Phase II efficacy study to improve post-operative complications in renal transplantation, an indication with major unmet medical need and attractive commercial potential.

“This high-quality study with clinically meaningful endpoints will also be of relevance for a subsequent Phase III registration study.”

Earlier this year Kineta entered into its second partnership with specialist investment group RLB Holdings in as many months to speed up the development of its clinical stage drug candidates.

The investment partnership will focus on two drug programmes, ShK-186, which targets autoimmune diseases, and rOAS, a therapeutic aimed at malicious viruses including West Nile virus and Dengue fever, for which there are currently few effective therapies.

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