Syndicate invests €29.2m in AM-Pharma

Capital was provided by Ysios and Kurma Life Sciences Partners (KLS), supported by a syndicate comprised of Abbott Ventures, Shire Ventures, BB Biotech Ventures and Idinvest Partners, in addition to previous investors Forbion Capital Partners and Inventages Venture Capital. Ysios contribution was €4.5m.

Investors were chosen according to their knowledge in the area, shared vision of the company and previous relationships. The oversubscribed series-D round of funding will provide financial support for the GMP production of the alkaline phosphatase (AP) treatment drug for acute kidney injury (AKI) and its testing from the preclinical stage to the end of phase II clinical trials.

The investment was motivated by the possible commercialisation of the AP drug for the treatment of AKI, as it caters to a currently unmet medical need. The value of the AKI market is estimated at $2bn. The technology used, which was developed by Groningen University, was deemed attractive by investors, because AP's enzymes are endogenously active, which strengthens its safety profile.

AM-Pharma has previously raised approximately €25m in venture capital funding. The last investment of €7m took place in May 2008. The company was also awarded with a loan of €5m from the Dutch ministry of economic affairs in 2009.

Company
AM-Pharma is a biopharmaceutical company based in Bunnik, near Utrecht, in the Netherlands. The company focuses on the pre-clinical and clinical development of AP treatments for inflammatory diseases. Its latest recombinant of AP will be used in future trials and for commercialisation. The company was founded in 2002 and employs 9 people.

People
The deal was led by Joël Jean-Mairet of Ysios and Remi Droller of KLS. Together with Klaus Breiner of BB Biotech, they will join the supervisory board of AM-Pharma. Erik van der Berg is CEO of AM-Pharma.

Advisers
Company – Corp Advocaten (Legal); De Breij Evers Boon Advocaten (Legal); Janssen Broekhuysen Advocaten (Legal); Deloitte (Financial due diligence); Sterne Kessler Goldstein & Fox (IP due diligence).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Benelux
• Early-stage
• Healthcare