EIB gives 24m euros to AM-PharmaChristian Fernsby ▼ | March 31, 2020
The European Investment Bank and AM-Pharma have signed a EUR 24m financing agreement to accelerate the development of the innovative Dutch clinical stage biopharmaceutical company’s recombinant alkaline phosphatase enzyme (recAP), used to treat acute kidney injury (AKI).
Investment A Dutch clinical stage biopharmaceutical company
Topics: EIB AM-Pharma
It also allows the Company to fund the steps required to submit market authorization applications following the trial’s completion.
The EIB’s financing is supported under the “Infectious Diseases Finance Facility” (IDFF) of the InnovFin programme under the EU’s research and innovation programme Horizon 2020.
Sepsis is the body’s response to infections, which can lead to tissue damage, organ failure and ultimately, death.
Acute Kidney Injury (AKI) is one of the most frequent organ failures in septic patients, with high mortality rates.
The product that AM-Pharma is developing has the potential to transform the treatment prospects for patients with Sepsis Associated Acute Kidney Injury (SA-AKI).
Through the support of IDFF, the EIB can provide stable long-term funding with a flexible repayment and interest structure, limiting the cash outflow from the company and thereby enabling it to focus on investing in innovation and growth. ■