Netherlands-based biotechnology company AM-Pharma has raised €29.2m ($40m) in its series D round from a consortium including the corporate venturing units of two global healthcare companies, Abbott and Shire, and a chocolate company.
The D round was co-led by venture capital firms Ysios Capital Partners and Kurma Life Science Partners and included peers Forbion Capital Partners (which was spun out of local bank ABN Amro), BB Biotech Ventures and Idinvest Partners as well as Inventages Venture Capital, which invests on behalf of Switzerland-based chocolate maker Nestle, Abbott and Shire.
The round follows the promotion of Erik van den Berg to chief executive from vice-president of business development at AM-Pharma at the start of the month, replacing Bart Wuurman who had led the company since February 2007.
AM-Pharma focuses on the preclinical and clinical development of Alkaline Phosphatase as a treatment of severe inflammatory diseases, such as those affecting the kidneys.
The company’s series C round round in May 2008 raised €7m from Forbion and Inventages, as the first part of what was then meant to be a €20m round, and following a €2.5m pre-round commitment by the two the year before.
AM-Pharma’s B round raised €9m in 2005 from Inventages and ABN Amro (now Forbion).