Amakem NV, a Hasselt, Belgium-based ophthalmology company developing new treatments for serious eye conditions, has raised €18m in a Series A financing round.
The company intends to use the funds to advance its ophthalmology drug development portfolio and progress its lead candidate, AMA0076 for glaucoma, to clinical proof of concept.
AMA0076 is a novel Rho Kinase (ROCK) inhibitor for the treatment of glaucoma, a condition which damages the optic nerve resulting in vision loss and ultimately blindness. It has been developed using Amakem’s proprietary ‘Localized Drug Action’ platform.
Founded in 2010 and led by CEO Jack Elands, Amakem is based in the life sciences incubator “BioVille” at the University of Hasselt. It has raised to date more than €21m.
In conjunction with the funding, Christina Takke (Forbion Capital Partners), Emmanuelle Coutanceau (Crédit Agricole Private Equity) and Gaston Matthyssens (Vesalius BioCapital) will join Amakem’s Board of Directors. Geert-Jan Mulder (Forbion Capital Partners) and Kenneth Wils (PMV/Vinnof) will join the board as observers. Chris Buyse (Life Sciences Research Partners and CFO at Thrombogenics), who has been the company’s Chairman, will step down and Michael Palfreyman will take his place.