Date: 2011-09-07
Type of information: Establishment of a new subsidiary in the EU
Company: Orphazyme (Denmark)
Investors: Aescap Venture (The Netherlands) - Novo A/S (Denmark) - Sunstone Capital (Denmark)
Amount: €14 million
Funding type: series A financing round
Planned used: The funds will be used to progress Orphazym\'s lead program, Orph-001, into clinical development. Orph-001 is a recombinant version of human HSP70 being developed for the treatment of lysosomal storage diseases.
Others: Orphazyme has announced the successful completion of a €14 million Series A financing round. Participants were new investor Aescap Venture, as well as existing investors Novo A/S, and Sunstone Capital. In conjunction with the closing of the financing round, Dr. Kim Dueholm and Dr. Peter Moldt, both Partners at Novo Ventures, and Dr. Hakan Goker, Principal at Aescap Venture, will join Orphazyme`s Board of Directors. Orphazyme was founded on the pioneering discovery related to the molecular chaperone, heat-shock protein 70, which reverts the pathology in cell extracts from patients suffering from various lysosomal storage diseases. Currently, only few treatment options exist for this family of serious genetic disorders, of which most are currently untreatable and often fatal, thus representing a significant unmet medical need. Orphazyme has applied its discovery capabilities to building a proprietary platform used for a novel and paradigm-changing approach to developing new treatments for these serious diseases.
Therapeutic area: Rare diseases
