OptiNose has announced the closing of a financing round of up to $30M, which it plans to use for continued development and commercialization of its OPN-375 intranasal fluticasone as well as for additional pipeline products. The company had announced completion of its previous round of financing in August 2014.
According to the company, Phase 3 development of OPN-375 for the treatment of nasal polyposis with associated nasal congestion is almost complete, and it plans to submit an NDA for that indication soon. OPN-375 is also in Phase 2 development for the treatment of chronic or recurrent sinusitis. Another product, OPN-300 intranasal oxytocin, is in Phase 2 development for the treatment of autism.
OptiNose CEO Peter Miller said, “With this latest round of financing, we are well-positioned to make the most of our lead asset, OPN-375, as well as continue development of our pipeline products like OPN-300. We believe these products have potential to be transformational breakthroughs in large markets with significant unmet need. As we recently announced, our Phase 3 clinical program supporting the launch indication for OPN-375 produced excellent results and after a planned pre-NDA meeting we intend to submit an NDA as soon as possible. This round of financing will help drive our clinical research plans to develop OPN-375 globally and for follow-on indications, and will support investment in manufacturing infrastructure and other preparations necessary to support commercialization of OPN-375 in the United States.”
Read the OptiNose press release.
