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09 Sep 2011

Orphazyme raises 14 million euro

Orphazyme ApS has successfully completed 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.

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