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AM-Pharma raises EUR29.2m in Series D financing

Forbion Capital Partners’ portfolio company AM-Pharma BV, a biopharmaceutical company focused on the preclinical and clinical development of Alkaline Phosphatase (AP) as a treatment of severe inflammatory diseases, has raised EUR29.2m in an oversubscribed Series D financing.

The series D round was led by Ysios Capital Partners, co-led by Kurma Life Science Partners and supported by a consortium including the venture arms of two global Healthcare companies, Abbott and Shire, the European venture funds, BB Biotech Ventures and Idinvest Partners as well as existing investors, Forbion Capital Partners and Inventages Venture Capital.
 
The current fundraising will enable AM-Pharma to advance its human recombinant form of human AP from preclinical stages through to the end of phase II as a treatment for Acute Kidney Injury (AKI). AKI is a serious condition in which the kidney function is damaged by severe inflammation (sepsis), surgery or contrast fluids. This kidney damage may then lead to patients undergoing dialysis treatment for the rest of their lives. Currently there is no effective treatment for AKI and over 700.000 AKI patients die each year. The AKI market represents a USD 2 billion opportunity. AP, an enzyme playing a protective role in anti-inflammatory situations, has shown great potency in two AKI clinical phase II studies and one Ulcerative Colitis study with bovine-derived AP. The new human recombinant AP that AM-Pharma developed will be assessed for its safety and efficacy during clinical development. 
 
Joël Jean-Mairet of Ysios, Remi Droller of Kurma Life Sciences Partners and Klaus Breiner of BB Biotech Ventures will join and further strengthen the existing Supervisory Board comprising of Ashok Dhanrajgir, Bart Bergstein, David Brister and Eric Claassen.
 
Erik van der Berg, CEO of AM-Pharma, says: “This financing round builds on recent good phase II data with bovine Alkaline Phosphatase for the treatment of acute kidney injury. We are particularly pleased to have our approach validated through the additional support of large pharma.”
 
Bart Bergstein (pictured), Managing Partner of Forbion Capital Partners, says; “We are very pleased with the quality, strength and diversity of the reputable investors who have decided to back AM-Pharma and support it through this pivotal development phase. This reflects the excellent work the AM-Pharma team has achieved to date and the solid data they have generated with AP.”

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