Consortium invests €18m in Amakem

Equity was provided by Forbion, Credit Agricole Private Equity and Versalius BioCapital, alongside existing investors LRM, PMV and Life Sciences Research. Forbion invested via the FCF I Co-Invest Fund, which closed on €54m in 2010.

Funding will go towards product advancement, leading to a clinical proof-of-concept for the company's lead product AMA0076.

Forbion's interest in the venture stemmed from Amakem's recent development and its know-how, as well as the company's professional management.

Amakem previously raised €1.5m from LRM, PMV and Life Sciences Research in 2010. In addition, the company was awarded with €1.28m from the Flemish government later in 2010.

Company
Amakem is based in Hasselt, Belgium, as part of the University of Hasselt life science incubator "BioVille". The company develops ophthalmology treatments based on its "Localised Drug Action" platform, which aims to increase effectiveness and reduce side-effects. Its lead candidate, AMA0076, is a drug for glaucoma.

People
Christina Takke led the deal on behalf of Forbion and will be joining the company's board of directors, along with Emanuelle Coutanceau of Credit Agricole Private Equity and Gaston Matthyssens of Vesalius BioCapital. Furthermore, Geert-Jan Mulder of Forbion and Kenneth Wils of PMV/Vinnof will join the board as observers.

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• Topics
• Benelux
• Early-stage
• Healthcare
• Belgium
• Crédit Agricole Private Equity