Omthera Pharmaceuticals raises $6.5 Million in Series A funding

Bangalore: Omthera Pharmaceuticals, a Bedminster, New Jersey-based developer of dyslipidemia therapies, has raised $6.5 million in Series A funding. This round of funding is led by Sofinnova Partners.

According to Omthera Pharmaceuticals, the company is poised to elevate the treatment of dyslipidemia, beginning with its lead product candidate Epanova for the treatment of very high triglycerides. "The prescription Omega 3 market is already over $1.5 billion in annual worldwide revenues and is positioned for tremendous growth," said Jerry Wisler, President and CEO. "We are assembling a strong team of employees and external consultants to develop Epanova and bring it to market over the next few years." The Omthera management team also includes Hass Patel, Director of Manufacturing.

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Epanova, Omthera's lead product candidate, a free fatty acid form of Omega 3, is expected to provide unique absorption characteristics and bioavailability versus the ethyl ester form found in prescription Omega 3s currently available. Absorption characteristics of Epanova are further enhanced via a proprietary capsule and capsule coating that delays absorption to the small intestine with superior release kinetics. The delivery of Omega 3 to the small intestine is also expected to result in improved GI tolerability for Epanova.

Omthera plans to initiate comparative bioavailability trials for Epanova in mid-2010 and begin Phase III trials of Epanova in patients with severe hypertriglyceridemia (TG >500 mg/dL) in late 2010 or early 2011. The compound is also expected to enter Phase III trials in combination with statin therapy in 2011.