Dutch biotech AM-Pharma has scooped up a $42 million venture round designed to push a preclinical alkaline phosphatase program for acute kidney injury through a mid-stage study. And it picked up some cash from two prominent pharma venture groups in the process.
Ysios Capital Partners and Kurma Life Science Partners led the Series D with help from the venture arms of Abbott and Shire. BB Biotech Ventures, Idinvest Partners, Forbion Capital Partners and Inventages Venture Capital also participated.
AM-Pharma's sights are set on a human recombinant form of human alkaline phosphatase, an enzyme that plays a protective role in anti-inflammatory conditions.
"This financing round builds on recent good phase II data with bovine alkaline phosphatase for the treatment of acute kidney injury," says CEO Erik van der Berg. "We are particularly pleased to have our approach validated through the additional support of large pharma."
- here's the AM release
Special Report: Top 5 biotech venture capital deals, H1 2011