Dutch gene therapy company to float on Euronext

Investment opportunity

Amsterdam Molecular Therapeutics (AMT) has launched  an Initial Public Offering (IPO) on Euronext, Amsterdam, offering 5 million new shares at €8 to €10 per share.

The company develops gene therapies for orphan, or neglected, diseases. The product pipeline consists of six products in different stages of development. The lead product, AMT-011 to treat lipoprotein lipase deficiency, a very serious and rare metabolic disease, is currently in phase III trials, and AMT expects to file in Europe for market authorisation in the first quarter of 2008, followed by a filing in the US and Canada.

All the products in AMT’s pipeline are based on its adeno associated virus) gene insertion technology platform and its baculovirus-based manufacturing platform. The company genetically engineers the viral vectors to target specific organs or tissues, such as muscle or liver, and even specific types of cells within these organs.

This modular platform can be applied to a large number of diseases and has the potential to shorten time-to-market.

AMT will use the proceeds of the IPO to develop and commercialise its products and to build a specialised marketing and sales team for Europe and North America.

AMT’s venture capital investors, Gilde Healthcare Partners, Crédit Agricole Private Equity and Forbion Capital Partners have committed to invest €8 million in the IPO, and have also agreed to a 180-day lock up.