OxThera AB, a Stockholm, Sweden-based biopharmaceutical company, raised SEK70m in new funding.
The round was led by Kurma Partners, with participation from IdInvest Partners and Mayo Clinic, and current shareholders. In conjunction with the funding, Dr. Khalid Islam, previously Chairman & CEO of Gentium S.p.A, joined OxThera’s Board of Directors.
Led by Elisabeth Lindner, CEO, OxThera holds worldwide rights for compositions and methods of use for treatment of hyperoxaluria. It currently has two products in its pipeline:
– Oxabact® for the treatment of primary hyperoxaluria, a rare autosomal recessive disorder leading to markedly elevated levels of endogenous oxalate in plasma and urine, and
– Oxazyme®, an oxalate decarboxylase, for the treatment of oxalate malabsorption and kidney failure in enteric hyperoxaluria.
The company intends to use the funds to conduct a phase 2 clinical study to demonstrate the clinical efficacy of Oxabact®, in Primary Hyperoxaluria (PH).