BioCentury
ARTICLE | Finance

Sufficiently graft-ifying

Why immunology play Opsona says $43M is enough in capping series C

May 6, 2013 7:00 AM UTC

Opsona Therapeutics Ltd. took the rare step of turning down money in last week's series C round, as the immunology company capped the financing at €33 million ($43 million) to avoid dilution. The high number of corporate venture funds that participated in the round suggests Opsona will not have trouble attracting a partner - and thus non-dilutive dollars - for lead compound OPN-305.

The humanized IgG4 mAb against toll-like receptor 2 (TLR2) is in Phase II testing to prevent delayed graft function after renal transplantation. Final data from the 280-patient trial are expected in about two years. CEO Martin Welschof said discussions with potential partners have already started with the goal of closing a deal following a Phase II readout...