|
| |
 |
AM-Pharma announces EURO 7 million First Close of series C financing
round
Existing investors support AM-Pharma and set the terms for Second Close |
Bunnik, The Netherlands, 29 May 2008. AM-Pharma B.V., the
biopharmaceutical company developing improved endogenous proteins and peptides
to combat disease, today announced the signing of a EURO 7 million financing
agreement with Forbion Capital Partners and Inventages Venture Capital.
The announced investment is a First Close of a Series C financing round of EURO
20 million. AM-Pharma is in active discussion with several potential investors
from both Europe and the US on the investment of another EURO 13million in a
Second Close of the Series C financing round. Investors in the Second Close will
be allowed to invest at the same terms and conditions that apply to this First
Close.
Cash raised in this C round will allow the company to generate further Phase II
efficacy and safety data for its two products; Recombinant human Alkaline
Phosphatase and Selective Immune Response Amplifying peptide hLF1-11, in three
therapeutic indications; Acute Renal Failure; Ulcerative Colitis and hospital
acquired infections. The results of these Phase II trials, which will become
available within the next three years, are expected to significantly boost the
value of AM-Pharma.
AM-Pharma recently announced positive results in two Phase IIa studies with
Alkaline Phosphatase in Acute Renal Failure and Ulcerative Colitis, whilst
Selective Immune Response Amplifier hLF1-11 showed to be safe in Phase I trials
and in a first trial against infections in bone marrow transplant patients.
Bart Wuurman, CEO commented: “It’s great that investors continue to support us
in moving our clinical programmes forward. With the upcoming Second Close of our
C round we are offering new investors an exciting opportunity to invest on
attractive terms at a time when a strong upswing in company value could be very
near.
Gunnar Weikert, Chairman of Inventages added: “The clinical progress and data
shown so far by the company are very encouraging. This is one of the few
companies that have three products in Phase II development and an experienced
team in place to maximize their value.”
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.”
Notes to editors:
About AM-Pharma www.am-pharma.com
AM-Pharma is a biopharmaceutical company focused on the preclinical and clinical
development of novel compounds in the field of severe infectious diseases and
inflammatory diseases. All its products are based on optimized endogenous
molecules which combat disease using physiological defence mechanisms. AM-Pharma
is conducting Phase II clinical trials for two products; Alkaline Phosphatase
for acute renal failure and ulcerative colitis; and Selective Immune Response
Amplifying peptide hLF1-11 for the treatment of drug resistant hospital acquired
infections. AM-Pharma is based in Bunnik, The Netherlands with a staff of 15.
The company is financed by, amongst others, Forbion Capital Partners and
Inventages Venture Capital. Once product safety and efficacy have been
established in Phase II trials, AM-Pharma will look for world-wide development
and marketing partners for its products.
About Inventages www.inventages.com
Inventages Venture Capital is one of the world’s largest venture/private equity
funds specializing in life sciences, with more than $1.5 billion under
management. Inventages’ investment focus includes pharmaceuticals,
nutraceuticals, medical food, nutrition, cosmeceuticals, innovative food, as
well as, consumer relation management, processes and novel packaging
technologies. Inventages operates from three offices around the globe in
Auckland, Geneva and Nassau.
About Forbion www.forbion.com
Forbion Capital Partners invests in EU and US Life Sciences companies with a
focus on drug development and medical technologies. The Forbion team has made
life sciences investments since 2000 as ABN AMRO Capital Life Sciences, the
venture arm of ABN AMRO Bank NV. In December of 2006 the group became
independent by broadening its investor base and changed its name to Forbion
Capital Partners. Since 2000, the Forbion team has successfully divested a
number of investments, leaving an active portfolio now comprising 24 companies.
Assets under management currently total €200 M.
For further information, please contact
College Hill Life Sciences
Adam Michael / Justine Lamond
Tel: +44 (0)20 7866 7857
justine.lamond@collegehill.com
AM-Pharma
CEO Bart Wuurman
Tel: +31 (0)30 2289222
www.am-pharma.com
| |
|
