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AM-Pharma raises 12.2m Euros

Authored by James Sheppard

The Dutch biotech company AM-Pharma announced that it had raised 12.2m Euros in a financing round. AM-Pharma is a biopharmaceutical company that focuses on the development of recap (recombinant human Alkaline Phosphate) for inflammatory conditions.

The funding round was led by healthcare investor Gilde Healthcare. Gilde was joined by existing investors AbbVie, BB Biotech Ventures, Idinvest Partners, Kurma Biofund and Ysios Capital.

The financing allows AM-Pharma to complete a 290 person adaptive, four-arm, clinical study. The Phase II dose-finding, placebo controlled Phase III enabling study is the largest ever therapeutic study for acute kidney injury (AKI). The study will use the company’s lead asset recap which is also being assessed in a phase II trial for Ulcerative Colitis (UC).

Erik van den Berg, CEO of AM-Pharma said in a press release ‘This round of financing will take AM-Pharma through to a very exciting point in its development of recAP – the completion of Phase II development in AKI, and start of Phase II in UC. Both programmes address major unmet medical needs for which efficacious and safe treatments are sorely lacking. Based on previous positive Phase II clinical results with our bovine Alkaline Phosphatase, we are confident that our recombinant Alkaline Phosphatase is ideally positioned to fulfil these medical needs.’

The deal will see Gilde Healthcare managing director Edwin de Graaf join the AM-Pharma board. The funding sees AM’s continued success in 2014 following successful clinical and pre-clinical studies. Investors will now be looking towards results from the clinical studies.

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