AM-Pharma B.V., a Bunnik, The Netherlands-based biopharmaceutical company focused on the development of recAP (recombinant human Alkaline Phosphatase) for inflammatory indications, closed a €12.2m financing.
The round was led by Gilde Healthcare, with existing investors AbbVie, BB Biotech Ventures, Idinvest Partners, Inventages, Kurma Biofund and Ysios Capital. In conjunction with the funding, Edwin de Graaf, managing director with Gilde Healthcare, will join the Supervisory Board of AM-Pharma.
The company intends to use the funds to complete a 290 patient, four-arm, Phase II dose-finding, placebo-controlled, Phase III enabling study of recAP in Acute Kidney Injury (AKI) and to continue the oral formulation development of recAP to treat Ulcerative Colitis (UC) and prepare for Phase II development.
Led by Erik van den Berg, CEO, AM-Pharma focuses on the preclinical and clinical development of Alkaline Phosphatase as protective treatment of acute kidney injury and inflammatory bowel diseases. Based on the results of the Phase II trials with bovine Alkaline Phosphatase in Acute Kidney Injury (AKI) and a Phase II trial in Ulcerative Colitis (UC), the company developed a recombinant form of human Alkaline Phosphatase.
This recombinant Alkaline Phosphatase (recAP) will be used in future trials and for commercialization.