Date: 2014-04-16
Type of information: Financing round
Company: OxThera (Sweden)
Investors: Kurma Partners (France) IdInvest Partners (France) Mayo Clinic (USA)
Amount: 70 MSEK (€7.7 million)
Funding type: financing round
Planned used:
Others: * On April 16, 2014, OxThera, a privately-held Stockholm-based biopharmaceutical company, has announced that a syndicate of new investors, led by Kurma Partners, including IdInvest Partners and Mayo Clinic, have agreed, together with OxThera’s current shareholders, to invest a total of 70 MSEK in OxThera. OxThera is currently conducting a phase 2 clinical study to demonstrate the clinical efficacy of Oxabact®, in Primary Hyperoxaluria. This rare autosomal recessive disorder leading to markedly elevated levels of endogenous oxalate in plasma and urine. High levels of urinary oxalate cause kidney damage, including calcification of the kidney. If left untreated, the disease can cause kidney failure and premature death. OxThera holds proprietary rights to pharmaceutical preparations and their use for treatment of hyperoxaluria. Oxabact® has received orphan drug designations in the EU and the US for the treatment of PH. In December 2013, the company initiated a placebo-controlled clinical trial with Oxabact® in patients with PH at seven clinical sites in three countries. Results are expected during the autumn of this year. Oxabact® is an oral product composed of highly concentrated freeze-dried live bacteria (Oxalobacter formigenes). Dr. Khalid Islam, previously Chairman & CEO of Gentium S.p.A, also joining the Board of Directors of OxThera after this financing.
Therapeutic area: Rare diseases - Kidney diseases - Renal diseases
