DENMARK—Danish biotech company Orbis Medicines has successfully raised €90 million (US$94 million) in a Series A funding round to accelerate the development of its innovative oral macrocycle drugs, which the company refers to as ⁿCycles.
New Enterprise Associates (NEA) led this significant financing round with participation from new investors, including Eli Lilly, Cormorant, and the Export and Investment Fund of Denmark.
Founded in February 2024, Orbis Medicines began with US$28 million in seed funding from Novo Holdings and Forbion.
The company is focused on creating oral alternatives to injectable biologic drugs, particularly for chronic diseases.
CEO Morten Graugaard emphasized that Orbis is committed to solving the longstanding challenges in developing macrocycles—large, ring-shaped compounds made from amino acids or other building blocks—into effective oral drugs.
Macrocycles have strong therapeutic potential due to their ability to selectively bind to biological targets like the immunosuppressant cyclosporine and the antibiotic erythromycin.
However, these compounds have traditionally faced difficulties related to stability, absorption, and bioavailability, limiting their use as oral medications.
Orbis is determined to address these issues, especially for patients who prefer taking a pill over receiving injections or intravenous (IV) infusions.
In addition to this funding milestone, Orbis has been expanding its research collaborations.
In September 2024, the company announced a partnership with Vivtex to leverage its gastrointestinal robotic interface system (GI-ORIS). This cutting-edge platform is designed to assess gut permeability, which is critical for evaluating the oral bioavailability of Orbis’ ⁿCycles portfolio.
Furthermore, in October 2024, Orbis expanded its operations by joining Symbion’s new biotech startup hub in Fuglebakken, Copenhagen, marking an exciting growth phase for the company.
The macrocycle drug space has been gaining increasing attention within the pharmaceutical industry.
For instance, MSD is advancing its macrocyclic peptide drug MK-0616, currently in late-stage clinical development for targeting PCSK9 in patients with hypercholesterolemia.
If it receives approval, this drug is projected to generate US$1.5 billion by 2030. MSD has also entered a US$220 million agreement with Unnatural Products, an AI-based biotech developing macrocyclic drugs.
According to Pharmaceutical Technology, competitors, such as Circle Pharma, have also made strides, raising US$54 million in a Series D funding round and signing a deal with Boehringer Ingelheim in October.
Reflecting on the funding announcement, Orbis CEO Graugaard shared excitement about the company’s strategy for rapid value creation, leveraging the unique capabilities of its ⁿGen platform.
He expressed enthusiasm for advancing this promising new class of drugs to benefit patients worldwide.
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