Private and institutional investors have raised CHF 6.5m for Opterion Health, oversubscribing the round by 60%. The proceeds will be used to complete ongoing preclinical activities and prepare for the start of Phase I studies of its novel peritoneal dialysis (PD) solution. New board members with extensive experience in the biotech and financial sector have joined the company’s Board of Directors.
Based in Muttenz (Basel-Landschaft), Opterion Health is dedicated to transforming the dialysis market. While dialysis is a life-saving treatment for patients with end-stage renal disease, it also exerts metabolic, inflammatory and other adverse effects on different organs, such as the cardiovascular system.
During the past two decades, Opterion has been working on the first major innovation in peritoneal dialysis (PD), which uses the body’s own peritoneal membrane within the abdomen as the filter to clean the blood. Unlike Hemodialysis, the PD procedure is gentle and can be self-administered at home or on the move. The Opterion solutions also help reduce insulin dosage and glucose-related diabetic challenges.
Animal studies have shown the superiority of the Opterion PD solution over the ‘gold standard’ of the current market leader. Thanks to the closing of its oversubscribed financing round with private and institutional investors, the startup is now set to complete ongoing preclinical activities and progress towards clinical trials.
As part of this capital round, an additional option capital of CHF 7.3m was issued.
Peter Reinemer, CEO of Opterion Health, commented: “I am delighted about the broad participation and substantial commitments received in this financing round by current and new investors. It gives our company a comfortable cash runway as we move towards Phase I. Our entire team is focused on taking our novel PD solution, which has the potential to improve the quality of life of so many patients, into the clinic and ultimately to the market.”
New board members
Along with the closing of its round, Opterion announced the appointment of–Jan-Anders Karlsson and Robert Leitz as new board members to its Board of Directors and the departure of Stefan Wohlfeil, who decided to retire from his position but remains a partner and shareholder.
Jan-Anders Karlsson has 40 years of experience as a CEO and board member in pharma and biotech companies in Europe, Asia and the US. Jan-Anders was a founder and CEO of Reset Pharmaceuticals Inc, and prior to this served as CEO of Verona Pharma, a NASDAQ-listed biopharmaceutical company developing respiratory drugs. As CEO of S*BIO Pte Ltd, he focused on the discovery and development of drugs for the treatment of cancer – its product Vonjo (pacritinib) is approved in the US. Before S*BIO, he was Head of Pharma Global Research at Bayer Healthcare AG and held positions in Rhone-Poulenc Rorer and Astra AB.
Robert Leitz has 20 years of experience at renowned financial institutions and is the Managing Director of iolite Capital, a private investment firm based in Pfäffikon SZ, Switzerland. Before iolite, he held positions at Glencore (the world’s largest commodity trader) and various financial institutions, including TPG Credit (a hedge fund), Goldman Sachs’ European Special Situations Group, and KPMG Corporate Restructuring. Robert is a member of the Entrepreneurs’ Organization (EO) and is Finance Chair for the Zurich chapter.
(Press release/RAN)
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