Orbis Medicines Raises EUR 90 Million in Series A Funding
Orbis Medicines, an innovator in the realm of oral macrocycle drug discovery, has successfully closed a substantial EUR 90 million Series A funding round, which boosts their total capital raised to an impressive EUR 116 million. These funds are earmarked to propel the development of their next-generation oral macrocycle drugs, known as ‘nCycles’. The funding round was spearheaded by NEA (New Enterprise Associates) with notable participation from esteemed investors such as Eli Lilly and Company, and Cormorant, alongside founding investors Novo Holdings and Forbion.
Leadership Transformation at Orbis Medicines
In a strategic move, Morten Graugaard has taken the helm as Chief Executive Officer of Orbis Medicines, following a commendable nearly three-year tenure as the Executive Chair of the Board of Directors. Graugaard brings to the role over 20 years of extensive experience in life sciences, encompassing areas such as venture investment, research and development, business development, corporate strategy, and overall management. His leadership is anticipated to drive Orbis into a promising growth phase.
Pioneering Oral Macrocycle Drug Discovery
Orbis Medicines is fundamentally shifting the paradigm of oral macrocycle drug discovery. Macrocycles represent a diverse family of compounds known for their therapeutic effectiveness but have historically posed considerable challenges in being developed as oral medications. Orbis' initiatives are dedicated to creating high-value oral alternatives to major biologic drugs, thus aiming to enhance patient care.
Significance of the Funding and its Impact
Morten Graugaard, the new CEO, stated, "The support from this distinguished group of investors not only validates our cutting-edge science but also underscores the exciting potential that Orbis Medicines holds. By advancing the capabilities of macrocycles, we are keen on developing oral formulations—nCycles—that are favored by patients, healthcare professionals, and systems, particularly in managing chronic conditions." He further emphasized the company’s clear strategy aimed at rapid value creation, which leverages their unique nGen platform, a crucial component in developing this important new class of medications.
Optimizing Drug Development Through Innovation
Ed Mathers, a Partner at NEA, expressed his enthusiasm for supporting Orbis Medicines, stating, "The Orbis Medicines team has left a profound impression on us with the robust data backing their nGen platform. We are excited to support their journey towards clinical application and their long-term vision of becoming a leader in the macrocycle domain." Mathers commended Graugaard’s appointment, noting that his extensive experience will guide the organization through its pivotal growth stage.
About Orbis Medicines
Orbis Medicines is at the forefront of oral macrocycle drug discovery. Their innovative nGen platform systematically produces macrocycle candidates called nCycles, which are optimized for oral bioavailability—a key factor that has traditionally been a hurdle in the therapeutic advancement of these versatile molecules. The current pipeline of Orbis is initially directed at developing nCycle candidates for targets already validated by leading biologic drugs that are typically administered via injection. They have keenly raised EUR 26 million in a preceding seed funding round, co-led by Novo Holdings and Forbion.
Understanding the nGen Platform and nCycles
The nGen platform of Orbis Medicines is a cutting-edge technology designed to generate nCycles, a pioneering category of fully synthetic macrocycle compounds. These are specifically fashioned for optimizing oral bioavailability and membrane permeability. The platform integrates numerous proprietary components within a “lab in a loop” framework, which commences with vast hit-finding libraries consisting of 100 billion compounds. Thanks to its highly automated, chemistry-based nGen platform, Orbis can synthesize and evaluate up to 100,000 distinct synthetic macrocycles in a matter of weeks. This capability facilitates the identification of candidates with optimal properties necessary for oral administration and intracellular targeting, substantially enhancing the development speed and success rate.
Frequently Asked Questions
What is the main focus of Orbis Medicines?
Orbis Medicines specializes in oral macrocycle drug discovery, targeting the development of effective oral medications using their innovative nCycles technology.
How much funding did Orbis Medicines recently secure?
Orbis Medicines secured EUR 90 million through a Series A funding round, increasing their total funding to EUR 116 million.
Who leads Orbis Medicines now?
Morten Graugaard has recently been appointed as the CEO of Orbis Medicines, following a successful tenure as the Executive Chair.
What are nCycles?
nCycles are next-generation oral macrocycle drugs developed by Orbis Medicines, optimized for better patient outcomes.
What technology does Orbis employ in its drug discovery?
Orbis Medicines utilizes its nGen platform, which enables rapid synthesis and analysis of a vast number of macrocycle compounds, enhancing the efficiency of drug development.
