AM-Pharma raised €29.2 million in Series D financing. The company will use the funds to advance its human recombinant form of human alkaline phosphatase (AP) from preclinical testing through to the end of Phase II as a treatment for acute kidney injury (AKI).
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 Abbott and Shire, BB Biotech Ventures, and Idinvest Partners, as well as existing investors Forbion Capital Partners and Inventages Venture Capital.
“AM-Pharma is the perfect example of the type of company we like to support,” notes Rémi Droller, partner of Kurma Life Science Partners. “It has a strong and experienced international management team working to address unmet clinical needs with very innovative programs and it typifies our vision to channel capital to the financing of very focused projects."
AM-Pharma is developing AP as a treatment for various inflammatory diseases. AP is an enzyme that plays a protective role in anti-inflammatory conditions. The firm has reported positive Phase II results with bovine AP in AKI as well as ulcerative colitis.
AM-Pharma will now replace bovine AP with its recombinant form of human AP in future trials and for commercialization. Following this series D fundraising the company says that it will finalize the GMP production of recombinant AP and its further development through Phase II in patients.
“This financing round builds on recent good Phase II data with bovine alkaline phosphatase for the treatment of acute kidney injury,” remarks Erik van der Berg, CEO of AM-Pharma. “We are particularly pleased to have our approach validated through the additional support of large pharma.”