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ABN AMRO Capital Life Sciences leads € 22 million
investment in Amsterdam Molecular Therapeutics BV
AMSTERDAM, The Netherlands - October 4, 2006: ABN AMRO Capital Life Sciences
(AAC LS) announced that is has led a €22 million Series A financing of Amsterdam
Molecular Therapeutics BV (AMT). The syndicate was completed by Advent Venture
Partners of the UK, Gilde Investment Management and Crédit Agricole Private
Equity (France).
Sander Slootweg from ABN AMRO Capital Life Sciences has joined the Company’s
Supervisory Board.
Founded in 1998 on the initiative of researchers from the Academic Medical
Center (AMC) in Amsterdam, AMT aspires to use its scientific know-how and
expertise in the area of gene therapy in order to successfully develop
innovative treatments for patients with serious inherited, metabolic or central
nervous disorders.
AMT’s lead product candidate AMT-011, has been granted Orphan Drug Designation
by the European Medicines Agency (EMEA) for the indication of Genetic
lipoprotein lipase (LPL) deficiency (also known as type I hyperlipoproteinemia),
and is currently in phase II. The proceeds of this round will be used to take
the clinical development of AMT’s lead product AMT-011 through to registration.
Additionally, the funds will allow the Company to accelerate its preclinical
gene therapy programmes for two metabolic orphan diseases (acute intermittent
porphyria and hyperoxaluria) addressing a significant unmet medical need; as
well as a gene therapy to treat a rare and very serious and rapidly progressive
retinal blindness.
"This financing provides AMT and collaborators, employees and shareholders with
a solid foundation on which the Company can grow its core business on an
accelerated timetable," said Ronald H.W. Lorijn, MD, PhD, M.B.A., Chief
Executive Officer of AMT.
Commenting on the funding, Sander Slootweg, a director with AAC LS said “We have
always been firm believers of Gene Therapy as a potential cure for many
currently untreatable diseases. AMT-011 may actually be the first real Gene
Therapy to be available to patients in the Western world. Although it initially
addresses a modest market in terms of numbers of patients, the revenue potential
of AMT-011 is significant, especially when considering the larger LPL type V
market that can be targeted with the same product.”
Dr. Christina Takke, Senior Analyst at AAC LS, remarked: “This investment adds
to a series of recent investments endorsing our investment philosophy of
supporting companies with defined development candidates supported by an unique
technology and clearly visible value creating milestones in the near future. We
are looking forward to working together with the management and building up an
important player in this field.”
– Ends –
About ABN AMRO Capital Life Sciences
ABN AMRO Capital/Life Sciences (AAC LS) is the venture arm of ABN AMRO Bank N.V.
of the Netherlands. AAC LS builds and finances life sciences companies that
develop world-class technology with a clear focus on products for orphan as well
as major markets. AAC LS has been operating in the European market since 1997
and has invested in more than 30 innovative Life Sciences companies in both
Europe and the US. Further the AAC LS team was instrumental in exiting 13
investments either through IPO, trade sale or M&A and has achieved considerable
success and above average returns.
For further information, go to
www.abnamrocapital.com
For more information, please contact:
At ABN AMRO Capital:
Life Sciences Team
Postbus 5187
1410 AD Naarden
The Netherlands
Tel.: + 31 (0) 35 699 3000
Fax: + 31 (0) 35 699 3001
Email:
justa.van.slooten@abnamro-lifesciences.com
Media enquiries:
Annabel Entress, +44 (0)20 3008 7557 /
a.entress@northbankcommunications.com
Adam Michael, +44 (0)20 3008 7554/
a.michael@northbankcommunications.com
At Amsterdam Molecular Therapeutics:
André Verwei, CFO
Phone: +31 (0)20 5667394
Email:a.f.verwei@amtbv.com
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