Netherlands-based biopharmaceutical company AM-Pharma has received €12.2m ($15.8m) in a series E round featuring pharmaceutical company AbbVie and Allianz-backed venture firm IdInvest Partners.
The round was led by private equity firm Gilde Healthcare, while venture capital firms BB Biotech Ventures, Inventages and Ysios Capital, and investment fund Kurma Biofund also participated.
AM-Pharma is developing treatments for acute kidney injury (AKI) and inflammatory bowel disease. The funding will enable it to complete a Phase 3 study for its use in AKI. The company will also be able to continue the oral formulation development of its recAP technology to treat ulcerative colitis and prepare for Phase 2 development.
Following the round, Edwin de Graaf, managing director with Gilde Healthcare will join the supervisory board of AM-Pharma.
AM-Pharma raised $40min series D funding in 2011 from IdInvest, Inventages Venture Capital, which invests on behalf of Nestle, Abbott and Shire, as well as Ysios Capital, Kurma Life Science Partners, Forbion Capital Partners and BB Biotech Ventures. It has now raised approximately €59.9m ($70.1m) since it was founded.