Life Sciences Partners, Ysios Capital, Sunstone Capital and Flerie Invest have led a €32m investment round for Swedish drug developer Oxthera.
In addition to the Dutch, Spanish, Danish and Swedish VCs, the funding round also saw participation from Oxthera's existing backers: French VCs Kurma Partners and Idinvest, Swedish government-backed VC Industrifonden, and Sweden-based investment company Brohuvudet.
Oxthera's capital injection brings the total raised by the biotech business to more than €78m.
The funding will be used to continue development of the company's programme for treatment of primary hyperoxaluria, a potentially fatal disease where sufferers excrete excessive amounts of oxalate in their urine.
Prior to its most recent round, Oxthera had raised in excess of €46m in five rounds over the span of a decade, according to unquote" data.
It first raised SEK 165m from HealthCap and Scandinavian Life Science Ventures in July 2005, followed by a further €16m in 2007, when Industrifonden joined the two existing backers.
Industrifonden led an undisclosed follow-on round in June 2010, with HealthCap joining the Swedish VC in 2012 for an additional €4.67m investment.
In April 2014, HealthCap, Idinvest, Industrifonden and Kurma Partners participated in a €7.5m round for Oxthera.
Oxthera is a Stockholm-based developer of treatments for hyperoxaluria.
The company was founded in 2005 and is developing hyperoxaluria drugs based on live oxalate-consuming bacteria, to prevent kidney damage in sufferers of the disease.
Oxthera – Elisabeth Lindner (CEO).
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