Copenhagen, Denmark: Orphazyme ApS today announced the successful completion of a 20 million Euro Series B financing round. Kurma Partners and Idinvest Partners join the existing investor syndicate of Novo A/S, Sunstone Capital and Aescap Venture.
Orphazyme ApS develops novel therapeutics for the treatment of rare and genetic diseases. The company was founded on pioneering research on the therapeutic potential of the cellular heat shock response and is now developing a family of well-tolerated small molecule inducers of heat shock proteins as treatments for lysosomal storage diseases and other neurodegenerative diseases. A clinical Phase 2 study in Niemann-Pick Disease type C, a detrimental lysosomal storage disease, is currently in preparation.
Anders Hinsby, CEO of Orphazyme, said: ”I am grateful for the confidence in, and commitment to, the Company from our new investors Kurma Partners and Idinvest Partners as well as our existing investors all of whom participate in the Series B. With the investment we will be able to pursue our ambition of making an entirely novel therapy available to the patients suffering from severe incurable diseases. Our lead compound is an orally available small molecule, which is safe and well tolerated in man. In collaboration with patient organizations and expert clinicians we will now initiate a Phase 2 trial to show benefit in patients suffering from Niemann-Pick Disease type C".
The Series B round was led by Kurma Partners, and Remi Droller, Managing Partner, will join the Board of Orphazyme in conjunction with the closing of the Series B round.
Remi Droller said: ”Kurma Partners is very excited about Orphazyme, which has taken a leadership position in the promising field of harnessing the therapeutic potential of the heat shock proteins for degenerative diseases. The company is founded on scientific excellence, and has successfully transitioned from discovery to development. I am looking forward to joining the Board at this vital time of commencing clinical Phase 2 studies to show benefit in patients with a very high unmet need".
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Anders Hinsby, CEO of Orphazyme
Orphazyme ApS is a Danish biopharmaceutical company, which develops paradigm-changing medicines for the treatment of genetic diseases. The lead program is in preclinical development as treatment for lysosomal storage diseases. This family of genetic disorders consists of more than 45 diseases, most of which are currently untreatable and often fatal. Orphazyme has already raised more than 17 million euro in seed and series A financing, from a strong investor base which includes Novo Ventures, Sunstone Capital and Aescap Venture. For more information, please visit www.orphazyme.com
About Kurma Partners
KURMA Partners is a key European player in the financing of Innovation in Healthcare and Biotechnology, from pre-seed to growth capital, notably through Kurma Biofund I and II, and strategic partnerships with prestigious European research and medical institutions. For more information, please visit www.kurmapartners.com
About Idinvest Partners
With €4 billion under management and 40 staff, Idinvest Partners is a leading pan-European manager focused on the middle market segment. Idinvest Partners has developed several complementary areas of expertise including investments in innovative European start-ups, primary, secondary and mezzanine investments in European non-listed companies, and private equity consulting. Founded under the name AGF Private Equity in 1997, Idinvest Partners was formerly part of the Allianz Group until 2010 when it joined forces with IDI Group to become independent. For more information, please visit www.idinvest.com
About Novo A/S
Novo A/S, the holding company in the Novo Group, was established prior to the demerger of Novo Nordisk A/S in 2000. Novo A/S is a private limited liability company fully owned by the Novo Nordisk Foundation. Besides being the majority shareholder in Novo Nordisk A/S and Novozymes A/S, Novo A/S provides seed capital (through Novo Seeds), venture capital (through Novo Ventures), and growth capital (through Novo Growth Equity) to development stage companies within life science and biotechnology. Novo A/S also manages a broad portfolio of financial assets. For further information visit www.novo.dk
About Sunstone Capital
Sunstone Capital is an independent venture capital investor founded in 2007 by an international team of industry experts with combined entrepreneurial, operational and financial experience. Sunstone Capital focuses on developing and expanding early-stage Life Science and Technology companies with strong potential to achieve global success in their markets. Within life science, Sunstone Capital has invested in more than 35 companies in the areas of pharmaceuticals, medical technologies and diagnostics, and has completed several successful exits and IPOs. With total funds of 500 million Euro under management, Sunstone Capital is one of the largest Nordic-based venture capital investors. For further information, please visit www.sunstonecapital.com
About Aescap Venture
Aescap Venture is a venture capital company investing in private medical companies in Europe. Aescap Venture has a long-term investment horizon and invests in high-potential companies. This involves investments in all phases of development with an emphasis on earlier stages. Aescap Venture’s added value is based on a multi-disciplinary team of experienced investment partners with proven track records of success and the skills to coach entrepreneurs in accelerating the growth of their companies. For further information, please visit www.aescap.com