Orphazyme ApS, a Copenhagen, Denmark-based biopharmaceutical company that develops innovative medicines for the treatment of a family of genetic disorders called lysosomal storage diseases, completed a €14m Series A financing round.
The company intends to use the funds to progress its 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, which affect mostly children, who often die at a young age, many within a few years from birth. Other patients live longer, but ultimately die following years of suffering from defects in various organs such as the kidneys, liver, heart and CNS.
Led by CEO Anders Hinsby, Orphazyme is based on the discoveries emerging from the academic laboratory of its scientific founders Professor Marja Jäättela and Dr. Thomas Kirkegaard Jensen from the Danish Cancer Society (Kræftens Bekæmpelse). It has established collaborations with important academic institutions in Europe and the USA.
In conjunction with the closing, Dr. Kim Dueholm and Dr. Peter Moldt, both Partners at Novo Ventures, and Dr. Hakan Goker, Principal at Aescap Venture, will join the company’s Board of Directors.