COPENHAGEN – January 6, 2025 – Orbis Medicines has announced a significant financial milestone, closing a Series A funding round of EUR 90 million. This substantial investment brings the company’s total funding to EUR 116 million and is set to propel the development of their innovative pipeline of oral macrocycle drugs, known as ‘nCycles’. These next-generation therapeutics are designed to target validated blockbuster biologic targets, offering a patient-friendly oral alternative.
The funding round was spearheaded by NEA, with notable new investors including Lilly Ventures, Cormorant, and the Export and Investment Fund of Denmark. Founding investors Novo Holdings and Forbion also participated, demonstrating continued confidence in Orbis Medicines’ vision. Simultaneous with this announcement, Orbis Medicines has appointed Morten Graugaard as Chief Executive Officer. Mr. Graugaard, who previously served as Executive Chair of the Board for nearly three years, brings over two decades of experience in the life sciences sector, encompassing venture investing, R&D, and business development.
Orbis Medicines is pioneering a new frontier in oral macrocycle drug discovery. Macrocycles, while possessing compelling therapeutic properties, have historically presented challenges in oral drug development. Orbis’s innovative approach focuses on creating high-value oral alternatives to established blockbuster biologic drugs. This strategy aims to maximize patient benefit by providing orally available medications for targets traditionally addressed by biologics.
“The EUR 90 million Series A funding and the caliber of investors involved underscore the transformative science and immense potential of Orbis Medicines,” stated Morten Graugaard, the newly appointed CEO. “We are committed to unlocking the full potential of macrocycles by developing orally bioavailable nCycles. This oral format offers significant advantages for patients, physicians, and healthcare systems, particularly in the context of chronic diseases.”
Graugaard added, “The strong interest we have garnered reflects the significant market demand for nCycles as an oral solution for both validated biologic targets and those considered undruggable by conventional modalities. Our strategy is geared towards rapid value creation, leveraging the unique capabilities of our nGen platform. We are excited to advance this novel class of drugs and bring them to patients in need.”
Ed Mathers, Partner at NEA, commented, “We are highly impressed by the data supporting Orbis Medicines’ nGen platform. We believe it represents the leading discovery engine for oral macrocycle drugs globally. NEA is delighted to support Orbis not only in their journey towards clinical trials but also in their broader vision to become a leader in this transformative field.” Mathers further congratulated Morten Graugaard on his CEO appointment, recognizing his experience and expertise as crucial for guiding Orbis through this pivotal growth phase and realizing the full potential of nCycles.
