Orbis Medicines Secures EUR 90 Million for Oral Macrocycles Development

Orbis Medicines, based in Copenhagen, Denmark, has successfully secured a substantial EUR 90 million in a Series A funding round, increasing their total capital raised to EUR 116 million. This financial milestone is set to propel the company's efforts in developing its pioneering class of drugs known as 'nCycles,' part of their oral macrocycle drug discovery program. The latest financing was spearheaded by New Enterprise Associates (NEA) and included participation from fresh investors such as Eli Lilly and Company, Cormorant, and the Export and Investment Fund of Denmark, along with founding investors Novo Holdings and Forbion.

The leadership at Orbis Medicines has also seen a significant change, with Morten Graugaard stepping into the role of Chief Executive Officer after serving almost three years as the Executive Chair of the company's Board of Directors. Graugaard brings over two decades of expertise in life sciences, spanning venture investing, research and development, and strategic corporate development, adding a wealth of experience to the company’s executive team.

Orbis Medicines is at the forefront of a new wave in oral macrocycle drug discovery. Macrocycles, a diverse and complex group of compounds, have posed challenges historically in developing oral medications despite their promising therapeutic potential. Orbis aims to overcome these hurdles by creating high-value oral alternatives to current blockbuster biologic drugs, aiming to deliver maximum benefit to patients.

Graugaard, newly appointed as CEO, emphasized the importance of the backing from their investors, which he sees as a testament to the groundbreaking science and promising future of Orbis Medicines. The company is pushing the boundaries of macrocycle capabilities by making them orally available. This method is particularly favored by patients, healthcare providers, and systems, especially for chronic conditions. The strong interest from investors illustrates a market demand for nCycles as a novel oral approach to not only validated biologic targets but also challenging targets that are not accessible by other drug modalities. With a strategic plan to generate rapid value, Orbis plans to utilize the unique features of their nGen platform to advance this innovative class of drugs for patient benefit.

Ed Mathers, a partner at NEA, expressed enthusiasm for supporting Orbis Medicines as they move towards clinical applications while pursuing their long-term goals as a leader in the field. Mathers also congratulated Morten Graugaard on his new appointment, highlighting Graugaard’s significant contributions to Orbis as Chair, which have positioned him well to lead the company through its critical growth phase and realize the potential of nCycles.

Orbis Medicines is committed to transforming oral macrocycle drug discovery through its nGen platform, which systematically delivers macrocycle candidates, termed nCycles. These are tailored for oral bioavailability, a factor that has traditionally impeded the therapeutic development of such molecules. The initial focus of Orbis' pipeline is on nCycle candidates targeting areas validated by injectable blockbuster biologic drugs. In 2024, Orbis gained EUR 26 million in a series seed round, with Novo Holdings and Forbion co-leading this investment. The company's proof-of-concept work has gained recognition in prominent scientific publications like Nature Communications and Nature Chemical Biology.

The nGen platform is a highly sophisticated technology that generates nCycles, a new class of macrocycle compounds, optimized for effective oral absorption and cell permeability. It integrates multiple proprietary components in a "lab in a loop" setup, starting with massive compound libraries. This efficient system can create and test up to 100,000 different synthetic macrocycles within weeks, enabling the discovery of candidates suitable for oral administration and intracellular effects. By combining extensive real-compound data with machine learning, Orbis Medicines has developed an industry-leading platform that minimizes risk and accelerates development in this exciting field.