OxThera raises EUR32m to complete Oxabact development to treat primary hyperoxaluria

The investment round is co-led by Life Sciences Partners, Netherlands, Ysios Capital, Spain, Sunstone Capital, Denmark, and Flerie Invest, Sweden, in addition to current shareholders Kurma Partners, France, Idinvest Partners, France, Stiftelsen Industrifonden, Sweden, and Brohuvudet, Sweden.

This announcement bolsters OxThera's position as a leader in developing therapies for Primary hyperoxaluria, a debilitating condition that, if untreated, leads to kidney damage and end-stage renal disease.

OxThera CEO Elisabeth Lindner said: "We are happy to announce that we have successfully completed the financing for the Oxabact Phase III pivotal study in Primary hyperoxaluria.

"We are confident that Oxabact will positively impact the lives of patients with this devastating disease," Elisabeth Lindner continues.

Oxabact is an oral product, composed of highly concentrated freeze-dried live bacteria (Oxalobacter formigenes), designed for enteric elimination of plasma oxalate. A complete clinical development plan for Oxabact has been presented in Protocol Assistance and End-of-Phase II meetings with EMA and FDA respectively.

Primary hyperoxaluria (PH) is a rare autosomal recessive disorder leading to markedly elevated levels of endogenous oxalate causing kidney deterioration and a gradual calcification of soft tissues.

If left untreated, the disease can cause kidney failure and premature death. The high medical need of PH is unmet to date. Currently, the sole available cure is a combined transplantation of liver and kidneys.

Oxabact holds orphan drug designations in the EU and the US for the treatment of PH, and in EU for treatment of Short Bowel Syndrome (SBS).