Osprey Pharmaceuticals raises $11 million
This article was originally published in Scrip
Osprey Pharmaceuticals USA, which develops therapeutics to target chemokine-mediated inflammation, has raised $11 million to advance its lead product CCL2-LPM, a therapeutic fusion protein, into safety and proof-of-concept clinical trials. The compound is designed to target the CCL2-CCR2 chemokine ligand and receptor axis, which plays a key role in inflammatory kidney diseases and other autoimmune and inflammatory conditions. The company will also discover and develop other therapeutics using its proprietary platform to discover leukocyte population modulators. The financing round, which is Osprey's first round of venture capital funding, was led by Burrill & Company.