Authored by James Sheppard
The Swedish biopharmaceutical company Oxthera announced that it had raised $10m from new and existing investors. The aim of the fundraising is to continue the clinical development programme for the company’s lead asset in primary hyperoxaluria.
The funding round was led by French venture capital company Kurma Partners (KLS Partners). Other venture companies that joined the funding round included Idinvest Partners and The Mayo Clinic. The funding round saw new additions to the Oxthera board which included previous chairman and CEO of Gentium (acquired by Jazz Pharma) and Remi Droller, Managing Partner of Kurma Partners.
Oxthera’s primary asset is Oxabact which is currently in phase II clinical trials for primary hyperoxaluria. The clinical trials are currently taking place across seven sites in three countries. Oxabact received Orphan Drug Designation from the FDA and EMA in this indication. The disease which affects around 3,000 patients in the Western World, currently has no available treatment options. Oxthera is also developing another drug, Oxazyme®, for the treatment of Kidney Failure in enteric hyperoxaluria.
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