Osprey picks up $3.8M more for immune disease treatments

Osprey Pharmaceuticals, a drug maker focusing on inflammatory and immune disease medications, added $3.8 million to its first round of funding, bringing its total to $14.8 million, according to VentureWire. The San Francisco company says the new money was needed to see its lead drug candidate through clinical trials. It did not disclose its recent investors.

Osprey has focused its resources on a drug that could treat inflammatory kidney disease. Results from its clinical trials are expected to come in by the third quarter of next year. If they are successful, the company says it will look for more capital or partnerships with other pharmaceutical companies.

Osprey raised the first $11 million in the round last May from Burrill & Co., BDC Venture Capital, GeneChem Therapeutics Venture Fund, Novo Nordisk Biotech Fund, Western Technology Seed Investment Fund and Yasuda Enterprise Development.

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