TCD drug firm gets €6m EU grant
OPSONA THERAPEUTICS -- a drug development firm founded in Trinity College -- has been awarded a grant of almost €6m by the European Commission to advance clinical trials for a promising treatment for kidney transplant patients.
The grant is the largest ever awarded under the EU's FP7 programme, which funds collaborative clinical trials.
Opsona will lead a European consortium of research and clinical groups for its OPN-35 drug.
The first trial of the treatment is due to begin this summer. Following successful completion of that trial, the consortium plans to conduct a phase 2 trial, commencing in 2012.
The initial trial will focus on the use of OPN-35 in addressing what's called 'delayed graft function' -- a serious complication of the immediate postoperative period in renal transplantation.
The company hopes the drug may have commercial potential for the treatment of a broad range of human diseases, including cancer and cardiovascular disease.
Opsona is backed by Dublin-based venture capital fund Fountain Healthcare Partners, as well as Novartis Venture Fund and Enterprise Ireland.