Opsona Thera closes 18M-euro funding

Opsona Therapeutics, an Irish biotechnology company focused on novel therapeutic and preventative approaches to autoimmune and inflammatory  diseases, has completed an 18.0 million-euro ($23.0 million) series B  financing round, which will enable it to expand both at an operational  and clinical level. Novartis Venture Fund, Fountain Healthcare Partners,  Inventages Venture Capital and Seroba Kernel Life Sciences all  participated in the funding.

Proceeds will support the advancement of Opsona's clinical trials  targeting inflammatory diseases, such as rheumatoid arthritis, lupus and  transplantation. As a part of the financing, Opsona also announced the  addition of Florent Gros, managing director at Novartis Venture Fund,  and Manus Rogan, managing partner at Fountain Healthcare, to the board  of directors. Opsona expects to make a number of other key appointments  in the corporate and clinical areas in the coming months.

Opsona's lead product, a fully-humanized monoclonal antibody (OPN-305)  to a key toll-like receptor (TLR) target, has demonstrated efficacy in a  number of animal models and will start pivotal clinical trials in 2010.