AM-Pharma announces €2.5 million financing

August 6 2007 | Category: Investor

Bunnik, The Netherlands, 3 August 2007. AM-Pharma B.V., the biopharmaceutical company developing improved endogenous proteins to combat disease, today announced the signing of a €2.5 million financing agreement with its two main investors, Forbion Capital Partners and Inventages Venture Capital.

The investment is a prelude to a Series C financing round, for which AM-Pharma is now in discussion with potential investors from both Europe and the US. AM-Pharma’s main investors aim to participate further in this Series C financing, which will close before the end of this year. Cash raised in the upcoming round will allow the company to generate Phase II efficacy and safety data for two products; recombinant human Alkaline Phosphatase and Anti-Microbial Peptide hLF1-11, in four therapeutic indications; Acute Renal Failure; Ulcerative Colitis; hospital acquired bacterial infections and systemic Candida infection, during the next three years. In this period the value of AM-Pharma is expected to grow significantly.

AM-Pharma recently announced positive results in two Phase IIa studies with Alkaline Phosphatase in Acute Renal Failure and Ulcerative Colitis, whilst Anti-Microbial peptide hLF1-11 showed to be safe in a first trial in bone marrow transplant patients.

Bart Wuurman, CEO commented: “It’s great that our two main investors continue to give us strong support in moving our clinical programmes forward. Considering our recent positive clinical results and the strength of our product portfolio, the Series C round we have started now may well be the last round before exit.”

Gunnar Weikert of Inventages added: “The clinical progress and data shown so far by the company are encouraging. This is one of the few companies that have four products in Phase II development and we look forward to further participation in the Series C round.”

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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