Trinity College Dublin spin out Opsona Therapeutics, a specialist in autoimmune and inflammatory diseases, has announced that Roche Venture Fund and Enterprise Ireland have committed an additional €3.3 million to the second round financing announced in February. This brings the total value of the round to €21.3 million.
The new investors join Novartis Fund, Fountain Healthcare Partners, Inventages Venture Capital and Seroba-Kernel in completing the round, which will enable Opsona to further expand its clinical development pipeline.
Proceeds will support the advancement of clinical trials targeting inflammatory diseases such as rheumatoid arthritis, lupus and solid organ transplant rejection. It will also be used to improve Opsona’s capability to clinically evaluate novel compounds for in-licensing aimed at treating autoimmune and inflammatory diseases.
Mark Heffernan, CEO, said he is delighted by the calibre of investors who supported the financing. “The investment by Roche Venture Fund is a further endorsement of Opsona’s approach to targeting the innate immune system, and the continued support of Enterprise Ireland demonstrates [its] commitment to investment in high-potential companies”.
This money will fund the company over the next three years.