AM-Pharma NV, a Dutch developer of improved endogenous proteins and peptides, has held a EUR 7 million first close on its Series C round, which is targeting a total of EUR 20 million. Backers include Forbion Capital Partners and Inventages Venture Capital.
AM-Pharma B.V., the biopharmaceutical company developing improved endogenous proteins and peptides to combat disease, today announced the signing of a EUR 7 million financing agreement with Forbion Capital Partners and Inventages Venture Capital.
The announced investment is a First Close of a Series C financing round of EUR 20 million. AM-Pharma is in active discussion with several potential investors from both Europe and the
Cash raised in this C round will allow the company to generate further Phase II efficacy and safety data for its two products; Recombinant human Alkaline Phosphatase and Selective Immune Response Amplifying peptide hLF1-11, in three therapeutic indications; Acute Renal Failure; Ulcerative Colitis and hospital acquired infections. The results of these Phase II trials, which will become available within the next three years, are expected to significantly boost the value of AM-Pharma.
AM-Pharma recently announced positive results in two Phase IIa studies with Alkaline Phosphatase in Acute Renal Failure and Ulcerative Colitis, whilst Selective Immune Response Amplifier hLF1-11 showed to be safe in Phase I trials and in a first trial against infections in bone marrow transplant patients.
Bart Wuurman, CEO commented: “It's great that investors continue to support us in moving our clinical programmes forward. With the upcoming Second Close of our C round we are offering new investors an exciting opportunity to invest on attractive terms at a time when a strong upswing in company value could be very near.
Gunnar Weikert, Chairman of Inventages added: “The clinical progress and data shown so far by the company are very encouraging. This is one of the few companies that have three products in Phase II development and an experienced team in place to maximize their value.”
Bart Bergstein of Forbion Capital Partners pointed out: “AM-Pharma has reached the typical period where value inclination points will be reached. Given the strong pipeline, the expectation of a liquidity event via an IPO or trade sale in the upcoming period is more realistic than ever.”
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Notes to editors:
About AM-Pharma www.am-pharma.com
AM-Pharma is a biopharmaceutical company focused on the preclinical and clinical development of novel compounds in the field of severe infectious diseases and inflammatory diseases. All its products are based on optimized endogenous molecules which combat disease using physiological defence mechanisms.
AM-Pharma is conducting Phase II clinical trials for two products; Alkaline Phosphatase for acute renal failure and ulcerative colitis; and Selective Immune Response Amplifying peptide hLF1-11 for the treatment of drug resistant hospital acquired infections.
AM-Pharma is based in Bunnik, The Netherlands with a staff of 15. The company is financed by, amongst others, Forbion Capital Partners and Inventages Venture Capital. Once product safety and efficacy have been established in Phase II trials, AM-Pharma will look for world-wide development and marketing partners for its products.
About Inventages www.inventages.com
Inventages Venture Capital is one of the world