Kurma et al. invest €7.5m in Oxthera

Mayo Clinic also invested alongside the venture capital firms.

The deal marks the first investment made by Kurma's latest fund, Kurma Biofund II, which held its first close in June 2013 on €44m. The fund has a target of €75m.

Kurma Partners was formerly known as Kurma Life Sciences Partners (KLS Partners) until October last year.

Previous funding
Oxthera first received funding in July 2005, when it span out from Q-Med. The spinout secured SEK 165m from HealthCap Partners and Scandinavian Life Science (SLS) Ventures.

In June 2007, HealthCap and SLS returned alongside Industrifonden to invest around €16.1m in Oxthera.

In June 2010, SLS sold its stake in Oxthera to Industrifonden in a replacement capital deal.

Industrifonden and HealthCap then injected a further SEK 39m into Oxthera in September 2012 alongside Q-Med.

Company
Founded in 2005 when it span out from Q-Med, Stockholm-headquartered Oxthera is currently developing two products: Oxabact, designed for the treatment of primary hyperoxaluria; and Oxazyme, which is an oxalate decarboxylase designed for the treatment of oxalate malabsorption and kidney failure in enteric hyperoxaluria.

Primary hyperoxaluria is a disorder that causes elevated levels of endogenous oxalate in plasma and urine, the latter of which can cause kidney damage such as calcification of the kidney.

People
Elisabeth Lindner is the CEO of Oxthera. Rémi Droller is a managing partner at Kurma and is joining the company's board of directors.

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• Topics
• Nordics
• Healthcare
• Early-stage
• Sweden
• IDInvest Partners (AGF Private Equity)
• Industrifonden