Orbis Medicines, a leader in oral macrocycle drug discovery, today announces the close of a EUR 90 million Series A funding round, bringing the total amount raised by the company to EUR 116 million. The funds will support the development of Orbis’ pipeline of next-generation oral macrocycle drugs, called ‘nCycles.’ This financing was led by NEA (New Enterprise Associates) with participation from new investors including Eli Lilly and Company, Cormorant, the Export and Investment Fund of Denmark and founding investors Novo Holdings and Forbion. Morten Graugaard has been named the Chief Executive Officer of Orbis Medicines following nearly three years serving as Executive Chair of its Board of Directors. Mr. Graugaard brings more than 20 years of experience in life sciences including venture investing, R&D, business development, corporate development and strategy to Orbis’ leadership team.
Orbis Medicines is focused on pioneering a new era for oral macrocycle drug discovery. Macrocycles are a large and diverse family of compounds with highly desirable therapeutic properties but historically have been challenging to develop as oral drugs. Orbis Medicines’ programs are focused on high-value oral alternatives to blockbuster biologic drugs and targets to maximize value for patients.
