An Irish drug development company has been awarded a €5.9m grant from the European Commission for research into one of its products.
Opsona, founded by three Trinity College immunologists in 2004, will lead a consortium which has received the grant. The money is aimed at advancing clinical trials for OPN-305.
OPN-305 is a potential treatment for Delayed Graft Function (DGF), which is a serious complication which can arise just after transplant operations. Clinical trials of the treatment are now due to start this summer.
Opsona recently raised €21.3m in funding from a number of investors, including Novartis, Fountain Healthcare and Enterprise Ireland.
Opsona also announced today that one of its founders and current director, Professor Luke O'Neill, would take on the role of chief scientific officer, while Leon Hooftman has joined the company as chief medical officer.
CEO Mark Heffernan has stepped down for personal reasons to return to Australia, with chairman Bernd Seizinger becoming executive chairman. The company will now search for a new CEO.
