OptiNose, a Yardley, PA- Oslo, Norway- and London, UK-based specialty biopharmaceutical company, closed a $30M round of financing.
Backer included Avista Capital Partners, WFD Ventures and Entrepreneurs Fund LP.
The company intends to use the funds to seek approval for OPN-375 for the treatment of nasal polyposis with associated nasal congestion, a type of serious chronic nasal inflammatory disease, as well as pursuing development of other pipeline assets such as OPN-300, a product now in Phase II development, utilizing a large molecule to facilitate treatment of serious central nervous system disorders, such as Autism.
Led by Peter Miller, Chief Executive Officer, OptiNose develops a pipeline of late stage new products leveraging its patented closed-palate Bi-Directional™ Breath Powered™ drug delivery systems that enable differentiated treatments using exhaler devices that serve to target delivery of drugs in the nose.
The company out-licensed a first product at the end of phase 3 (AVP-825 for Migraine, licensed to Avanir in North America, since purchased by Otsuka Pharmaceutical Co., Ltd.), and has reported clinical success with other products, including OPN-375, a treatment in development for Chronic Nasal Inflammatory Diseases (CNID). Other pipeline products also target large markets with significant unmet need, including “nose-to-brain” applications of the technology such as OPN-300 for Autism.
FinSMEs
07/10/2015