Navigation Links
Osprey Pharmaceuticals U.S.A., Inc. Completes $11 Million Initial Private Financing
Date:9/3/2008

SAN FRANCISCO, Sept. 3 /PRNewswire/ -- Osprey Pharmaceuticals U.S.A., a privately-held company focused on developing novel protein therapeutics that selectively target chemokine-activated leukocytes that are responsible for initiating and maintaining inflammatory diseases, announced today that the company has raised $11 million in its first round of venture capital funding. The financing was led by Burrill & Company with participation from Novo Nordisk Biotech Fund (Novo Nordisk's internal corporate venture fund), Yasuda Enterprise Development, GeneChem Therapeutics Venture Fund, BDC Venture Capital, Inc. and Western Technology Seed Investment Fund.

"With a lead compound poised to enter clinical studies and a rich pipeline of highly specific protein therapeutics designed to target chemokine-mediated inflammation, we are enthusiastic about the opportunity to invest in Osprey Pharmaceuticals U.S.A.," said John E. Hamer, Ph.D., Managing Partner of Burrill & Company on behalf of the company's investors. "The company has acquired a powerful drug discovery platform which has the potential to yield new high value therapeutics against inflammatory and autoimmune disease."

Osprey Pharmaceuticals U.S.A. will deploy these funds to advance the company's lead product, a therapeutic fusion protein known as CCL2-LPM, into a safety and proof-of-concept clinical trial. CCL2-LPM is designed to target the CCL2-CCR2 chemokine ligand and receptor axis, which play a significant role in inflammatory kidney diseases and other autoimmune and inflammatory conditions. Proceeds will also be applied to the discovery and development of additional therapeutics that have emerged from the company's proprietary platform for the discovery of therapeutic Leukocyte Population Modulators (LPMs). LPMs specifically target chemokine-activated leukocytes that drive and/or maintain a variety of inflammatory and autoimmune disorders.

"We are pleased to have received strong support from a first-rate syndicate of international biopharmaceutical investors," said Jack M. Anthony, Chief Executive Officer of Osprey Pharmaceuticals U.S.A. "These funds will enable us to advance our lead compound, a promising treatment designed to reduce kidney damage, into the clinic and to advance additional early-stage compounds in our pipeline together with our partner Osprey Pharmaceuticals, Ltd. of Canada."

Osprey Pharmaceuticals U.S.A. was founded to develop protein therapeutic drugs emerging from Osprey Pharmaceuticals Ltd. of Montreal, Canada and maintains all rights to compounds and the underlying platform. Osprey Pharmaceuticals U.S.A. is led by Jack M. Anthony, Chief Executive Officer and Barbara K. Finck, M.D., Senior Vice President and Chief Medical Officer. Mr. Anthony brings more than 35 years biopharmaceuticals industry experience, including 16 years at Baxter Healthcare where he began his career. Since then, Mr. Anthony has held senior-level positions with a number of companies, including Applied Immune Sciences (now sanofi-aventis), Inhale (now Nektar Therapeutics), FibroGen, Tularik (acquired by Amgen) and Saegis Pharmaceuticals. Dr. Finck is a board certified physician in internal medicine and rheumatology. Having worked in industry for 15 years, she has successfully led product development programs for PDL BioPharma, Immunex Corporation (acquired by Amgen), where she led the Enbrel(R) development team for rheumatoid arthritis in adults and children through to commercialization, and ALZA Corporation (acquired by Johnson & Johnson).

In conjunction with the financing, Jack Anthony, John E. Hamer of Burrill & Company, Martial Lacroix of GeneChem and Jean-Francois Pariseau of BDC Venture Capital will join Osprey Pharmaceuticals U.S.A.'s Board of Directors.

About Osprey Pharmaceuticals U.S.A.

Osprey Pharmaceuticals U.S.A. is focused on the development of protein therapeutics for the treatment of inflammatory and autoimmune conditions. The company is advancing a pipeline of proprietary Leukocyte Population Modulators (LPMs), novel fusion protein therapeutics designed to selectively and systematically destroy disease-related leukocytes. Founded in 2008 and privately-held, Osprey Pharmaceuticals U.S.A. is based in San Francisco, CA.

About Burrill & Company

For more information about Burrill & Company, please visit http://www.burrillandco.com.

About Novo Nordisk Biotech Fund

For more information about Novo Nordisk A/S, please visit http://www.biotechfund.novonordisk.com and http://www.novonordisk.com.

About Yasuda Enterprise Development

For more information about Yasuda Enterprise Development, please visit http://www.yedvc.co.jp.

About BDC Venture Capital, Inc.

For more information on BDC Venture Capital, please visit http://www.bdc.ca/venturecapital.


'/>"/>
SOURCE Osprey Pharmaceuticals U.S.A., Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Osprey Pharmaceuticals Names Jack M. Anthony as CEO
2. Jack Anthony to Resign From VaxGens Board After Accepting CEO Position at Osprey Pharmaceuticals
3. Vion Pharmaceuticals Pays Interest on 7.75% Convertible Senior Notes
4. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
5. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
6. XTL Biopharmaceuticals Announces Financial Results for the Six Months Ended June 30, 2007
7. Cadence Pharmaceuticals Reports Second Quarter 2007 Financial Results
8. Nabi Biopharmaceuticals to Present at Upcoming Industry Conferences
9. Anadys Pharmaceuticals Appoints Steve Worland, Ph.D. as President and Chief Executive Officer
10. Poniard Pharmaceuticals Announces Participation in Upcoming Conferences
11. NovaQuest Advances Virtual Development Model With Strategic Investment in TOPIGEN Pharmaceuticals
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... ... October 11, 2017 , ... Proscia ... be hosting a Webinar titled, “Pathology is going digital. Is your lab ready?” ... pathology adoption best practices and how Proscia improves lab economics and realizes an ...
(Date:10/11/2017)... , ... October 11, 2017 , ... ... (FDA) has granted orphan drug designation to SBT-100, its novel anti-STAT3 (Signal Transducer ... treatment of osteosarcoma. SBT-100 is able to cross the cell membrane and bind ...
(Date:10/10/2017)... , Oct. 10, 2017 International research firm Parks ... Strategy, will speak at the TMA 2017 Annual Meeting , October ... trends in the residential home security market and how smart safety and ... Parks ... "The residential ...
(Date:10/9/2017)... ... October 09, 2017 , ... The award-winning American Farmer television series ... 2018. American Farmer airs Tuesdays at 8:30aET on RFD-TV. , With global population ... challenge of how to continue to feed a growing nation. At the same time, ...
Breaking Biology Technology:
(Date:10/4/2017)... Oct. 4, 2017  GCE Solutions, a global clinical research organization ... document anonymization solution on October 4, 2017. Shadow is designed to ... comply with policy 0070 of the European Medicines Agency (EMA) in ... ... ...
(Date:7/20/2017)... July 20, 2017 Delta (NYSE: DAL ) customers ... Delta aircraft at Reagan Washington National Airport (DCA). ... Delta launches biometrics to board aircraft ... Delta,s biometric boarding pass ... is now integrated into the boarding process to allow eligible Delta ...
(Date:6/14/2017)... -- IBM (NYSE: IBM ) is introducing several innovative partner ... developing collaboration between startups and global businesses, taking place in ... event, nine startups will showcase the solutions they have built ... France is one of ... 30 percent increase in the number of startups created between ...
Breaking Biology News(10 mins):