Enterprise Ireland
Annual Report and Accounts 2004

Opsona Therapeutics Ltd.

• Homepage
• Chairman's Statement
• Chief Executive Officer's Report

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• Section 1
  Achieving Export Sales
• Section 2
  Investing in Research and Innovation
• Section 3
  Competing Through Productivity
• Section 4
  Starting Up and Scaling Up
  • Connecting HPSUs and Investors
  • Start-up Class 2004
  • Opsona Therapeutics Ltd.
  • Delta Off-Site Solutions
  • Valista
• Section 5
  Driving Regional Enterprise

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• Membership of the Board & Committees
• Organisation Structure
• Statutory and Other Notices
• Financial Statements
• Office Network

As an Australian biotechnologist with Irish heritage, Dr Mark Heffernan moved to Ireland in 2003 to set up a new company in the Biotechnology sector. He teamed up with three world renowned researchers in Trinity College Dublin whose research was funded by Enterprise Ireland, Science Foundation Ireland and the Health Research Board. Together Dr Heffernan with Professors Kingston Mills, Luke O’Neill and Dermot Kelleher formed Opsona Therapeutics. This early stage drug development company is using pioneering research to identify and develop new drugs and vaccines for the prevention of autoimmune and inflammatory diseases.

In early 2004, Opsona was founded as a campus company based at Trinity College Dublin with funding from its founders and Enterprise Ireland. The company also completed a financing round of €6.25 million led by Inventages Venture Capital and Seroba BioVentures, and co-investor Genentech and Enterprise Ireland.

Opsona was introduced to third party investor Genentech through BioLink USA-Ireland, a networking body facilitated by Enterprise Ireland. It brings together highly qualified Irish expatriates working across the US and forms part of Enterprise Ireland’s strategy to maximise the creation and development of commercially focused early stage biotechnology start-ups. Opsona was also introduced to Inventages Venture Capital, based in Switzerland, through Enterprise Ireland.

Mark Heffernan, Opsona’s Chief Executive Officer, has experience with two publicly traded biotechnology companies in Australia. He feels the business environment in Ireland is very supportive to innovative business start-ups. He says: "There is a fantastic support network both in Ireland and in countries such as the US. Enterprise Ireland is very forward thinking and gave us great support both financially and through its networks. Their support was instrumental in getting Opsona off the ground."

Opsona is currently recruiting and working to develop its strategic alliance partner network in 2005. The company has a total of nine staff and a lead time to market of five to six years.

www.opsona.com