Opsona, a spin out from Trinity College Dublin (TCD) founded in March 2004,
announced today that it has completed a financing of €6.25m (c. US$8m) co-led
by Inventages Venture Capital (Bahamas) and Seroba BioVentures (Ireland) with
co-investors Genentech, Inc. (USA) and Enterprise Ireland.
Opsona is a development stage immunology company, focused on novel
therapeutic and preventative approaches to autoimmune and inflammatory
diseases. The company is specifically interested in the fields of Regulatory T-cells
and Toll-Like Receptors (TLR) and is building on intellectual property generated
through the work of three TCD Professors; Kingston Mills, Luke O’Neill and
Dermot Kelleher, who are also co-founders of Opsona.
The company has two lead drugs, OPN-101 and OPN-201, in advanced pre-clinical
development with a target for entering OPN-101 into initial human clinical
trials by early 2006. To date the work on these molecules originating from
Professor Mills research has been primarily funded by Science Foundation
Ireland, Enterprise Ireland and the Health Research Board.
Dr. Mark Heffernan, co-founder and CEO, who has experience with two publicly
traded biotechnology companies in Australia, noted that “the quality of research
and approaches taken by our three academic founders to treat and prevent this
group of debilitating diseases, including rheumatoid arthritis and multiple
sclerosis, is internationally recognised and highly novel.” He added “Opsona is
well positioned to compete in this fast-evolving area of medical research and to
advance its new therapies into the clinic”.
Commenting on behalf of Seroba BioVentures, who co-led the investment with
Inventages, Seamus O’Hara said: “This is an exciting, product-focused company
underpinned by novel science. That’s the sweet spot currently for biotech
investors and has allowed us to assemble a high quality team of investors for
Opsona’s initial funding.”
Dr Cormac Kilty, Chairman of Opsona, CEO of Biotrin International and Chairman
of the Irish BioIndustry Association (IBIA), explains that "Opsona is a perfect
example of fundamental research being translated into products with commercial
potential. Opsona is a further significant contribution to Ireland’s emerging
bioindustry."
For further information, please contact:
Dr Mark Heffernan (CEO)
Tel: +353 1 896 8499
heffernan@opsona.com
About Opsona
Opsona is a drug development company, focused on novel therapeutic and
preventative approaches to autoimmune and inflammatory diseases. Opsona’s
three scientific founders are world-renowned immunologists in their fields and
Professors at Trinity College Dublin. Opsona is based in Dublin (Ireland).
www.opsona.com
About Inventages
Inventages Venture Capital manages venture capital funds in the area of life
sciences with a focus on prevention. It currently has some 170m assets under
management, with Nestlé S.A. as a major investor.
www.inventages.com
About Seroba
Seroba BioVentures manages Ireland’s first venture capital fund exclusively
dedicated to the life science and medical technologies sectors on the island of
Ireland.
www.seroba.ie
About Enterprise Ireland
Enterprise Ireland is the government agency responsible for the development of
Irish industry. Its core mission is to accelerate the development of world - class
Irish companies to achieve strong positions in global markets resulting in
increased national and regional prosperity.
www.enterprise-ireland.com
About Trinity College Dublin
Trinity College Dublin spins off several new companies each year based on College’s
research or new knowledge based expertise. To find out more about TCD’s
Entrepreneurship programme for post graduates.
www.panel.tcd.ie/events
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