AM-Pharma closes €12.2m financing round

AM‐Pharma B.V., a biopharmaceutical company focused on the development of recAP (recombinant human Alkaline Phosphatase) for inflammatory indications, announces that it has closed a €12.2 million financing round led by Gilde Healthcare. Existing investors AbbVie, BB Biotech Ventures, Idinvest Partners, Inventages, Kurma Biofund and Ysios Capital also participated in the round.
The new capital enables the company to complete a 290 patient, four-arm, Phase II dose-finding, placebo-controlled, Phase III enabling study of recAP in Acute Kidney Injury (AKI), making it the largest ever therapeutic AKI trial. Additionally, the proceeds of this financing round enable AM-Pharma to continue the oral formulation development of recAP to treat Ulcerative Colitis (UC) and prepare for Phase II development.
“I welcome the involvement of Gilde Healthcare in our investor syndicate and am very pleased with the continuing support of our existing investors,” said Erik van den Berg, CEO of AM-Pharma. “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 the medical needs.”
Edwin de Graaf, managing director with Gilde Healthcare, will join the Supervisory Board of AM-Pharma. “We are impressed with the focus, competence and dedication of AM-Pharma’s management team and excited to support AM-Pharma in its efforts to further develop its unique therapy for patients suffering from acute kidney injury. For this major unmet medical need, recAP holds promise to achieve superior patient outcomes at a lower aggregate cost of care.”