Danish biotech Orbis Medicines has secured €90M ($94M) in Series A funding to accelerate the development of its innovative oral macrocycle drug platform. The funding round, led by New Enterprise Associates (NEA), attracted significant investment from pharmaceutical giant Eli Lilly, Cormorant, and the Export and Investment Fund of Denmark.
This substantial investment follows Orbis's February 2024 launch, which was backed by €26M in seed funding from Novo Holdings and Forbion. The company's mission centers on transforming injectable biologics into oral medications, particularly for chronic disease management.
Advancing Macrocycle Drug Development
Orbis's proprietary ᶠCycles platform tackles fundamental challenges in macrocycle drug development. These large, ring-like compounds, composed of amino acids and other building blocks, have shown promising therapeutic potential due to their selective binding capabilities. Notable examples include the immunosuppressant cyclosporine and the antibiotic erythromycin.
Traditional macrocycle development has faced significant hurdles in achieving optimal stability, absorption, and bioavailability. Orbis's technology aims to overcome these limitations, potentially revolutionizing how patients receive their medications.
Strategic Partnerships and Expansion
The company has established key strategic partnerships to advance its development programs. A notable collaboration with Vivtex, announced in September 2024, leverages their gastrointestinal robotic interface system (GI-ORIS) to evaluate gut permeability – a crucial factor in determining oral bioavailability for the ᶠCycles portfolio.
Orbis has also expanded its operational footprint by joining Symbion's new biotech startup hub in Fuglebakken, Copenhagen, strengthening its research and development capabilities.
Industry Momentum and Competition
The macrocycle drug development space is experiencing significant growth and investment. Industry leader MSD is currently conducting Phase III trials of MK-0616 (enlicitide decanoate), a macrocyclic peptide drug targeting PCSK9 for hypercholesterolemia treatment. Market projections suggest potential revenues of $1.5B by 2030 for this candidate.
Other significant developments in the space include MSD's $220M deal with AI-focused biotech Unnatural Products (UNP) and Circle Pharma's successful $54M Series D funding round in July 2024, followed by a partnership with Boehringer Ingelheim.
"We have a clear strategy for rapid value creation that leverages the unique capabilities of our ᶠGen platform and are excited to advance this important new class of drugs for patients," stated Orbis CEO Morten Graugaard, highlighting the company's commitment to revolutionizing drug delivery methods.
