Forendo Pharma Acquisition, Valuation, Funding & Investors

Forendo Pharma was acquired by Organon Pharma Indonesia for $955M in November 2021.

Forendo Pharma acquisition price

$955M

Acquired by Organon Pharma Indonesia · Nov 2021

Cumulative funding Forendo Pharma raised

$27M

across 4 funding rounds

Key investors in Forendo Pharma

  • Novo Holdings
  • M Ventures
  • Novartis Venture Fund
  • KDventures
  • Vesalius Biocapital Partners
  • Innovestor
  • Sunstone Life Science Ventures
  • Finnvera Venture Capital

Forendo Pharma Overview

About Forendo Pharma

Forendo Pharma is a Turku, Finland-based clinical-stage biotech founded in 2009 that develops steroid-mimicking drugs for endometriosis, uterine fibroids, and male hypogonadism. Its lead candidate, FE 999266, completed Phase II trials for adenomyosis and partners with Mitsubishi Tanabe for Asian rights. With 30 employees, the company raised €40 million in Series B funding and operates labs in Finland focusing on tissue-selective hormone therapies.


Founded

2013

HQ

FinlandTurku

Status

Acquired

Customer focus

B2B

Revenue model

Product sales, Licensing

Valuation

$955M (acquired Nov 2021)

Forendo Pharma Acquisition

Forendo Pharma was acquired by Organon Pharma Indonesia for $955M on 11 November 2021.

Before the acquisition Forendo Pharma had raised $27M across 4 funding rounds.

Forendo Pharma acquisition details
AcquirerDateTypePrice
  • Organon Pharma Indonesia
11 Nov 2021Strategic M&A$955M

Forendo Pharma Funding History

Forendo Pharma has raised a total of $27M across 4 funding rounds.

Forendo Pharma's first fundraising round was a $2M Series A in June 2013. The most recent completed round was a $6M Series A in July 2019.

Forendo Pharma funding rounds

Forendo Pharma funding rounds
DateStageInvestorsRaisedDeal Summary
Jul 2019Series ASunstone Life Science Ventures (lead); M Ventures; Novartis Venture Fund; Novo Holdings; Vesalius Biocapital Partners$6MForendo Pharma is a drug development company based in Turku, Finland, specializing in organ-specific hormone mechanisms for gynecological and urological conditions. The company's lead program is FOR-6219, an HSD17B1 inhibitor for endometriosis treatment, which commenced a Phase 1b proof-of-mechanism study in August 2019 to demonstrate efficacy in premenopausal women. The pipeline also includes a phase 2 candidate, Fispemifene, a novel SERM for male urological conditions, and discovery-stage programs. While Forendo Pharma received investments from multiple VC firms including Sunstone Life Science Ventures, Novo Holdings, M Ventures, Novartis Venture Fund, and Vesalius Biocapital Partners around July 2019, specific valuation and financial metrics for that funding round are not available in public sources.
Sep 2018SeedVesalius Biocapital Partners (lead); M Ventures; Novartis Venture Fund; Novo Holdings; KDventures; Innovestor$5M-
Oct 2014Series AM Ventures (lead); Novartis Venture Fund (lead); Novo Holdings; Finnvera Venture Capital; KDventures$15M-
Jun 2013Series AKDventures$2M-

Who has invested in Forendo Pharma?

8 investors have backed Forendo Pharma across its funding rounds, including Novo Holdings, M Ventures, Novartis Venture Fund, KDventures, Vesalius Biocapital Partners and Innovestor.

Lead investors include Sunstone Life Science Ventures, Vesalius Biocapital Partners, M Ventures and Novartis Venture Fund.


Forendo Pharma Investors

Investors in Forendo Pharma by funding rounds participated
InvestorHQRoundsRoleFirst check
M VenturesNetherlandsAmsterdam3LeadOct 2014
Novartis Venture FundSwitzerlandBeijing3LeadOct 2014
Novo HoldingsDenmarkCopenhagen3ParticipantOct 2014
KDventuresSwedenStockholm3ParticipantJun 2013
Vesalius Biocapital PartnersLuxembourgLuxembourg City2LeadSep 2018
Finnvera Venture CapitalFinlandKuopio1ParticipantOct 2014

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Forendo Pharma Competitors

Forendo Pharma competitors include listed companies like Solid Biosciences, Changchun BCHT, Zhejiang Ausun and Chengdu Kanghua, and private ones like InduPro and Bionyra.

Public and private companies comparable to Forendo Pharma
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Solid BiosciencesUnited StatesUnited StatesPublicly listed-($183M)$951M-
InduProUnited StatesSeattle, WAPrivate--$950M-
Changchun BCHTChinaChinaPublicly listed$90M($30M)$941M10.9x
Zhejiang AusunChinaChinaPublicly listed$118M$29M$941M6.5x
Chengdu KanghuaChinaChinaPublicly listed$174M$50M$974M4.4x
BionyraFranceParisPrivate--$985M-

Forendo Pharma Public Comps

Forendo Pharma is no longer listed, but its public comps include Solid Biosciences, Changchun BCHT, Zhejiang Ausun, Chengdu Kanghua, Mega Lifesciences, Kaken Pharmaceutical, Pacira BioSciences, Daewoong Pharmaceutical, SpyGlass Pharma and Sana Biotechnology.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Solid Biosciences-($183M)--(3.2x)(2.7x)
Changchun BCHT$90M($30M)10.7x10.9x(32.5x)(36.5x)
Zhejiang Ausun$118M$29M7.1x6.5x28.9x15.3x
Chengdu Kanghua$174M$50M4.7x4.4x16.6x16.3x
Mega Lifesciences$425M$82M2.0x1.9x10.2x8.4x
Kaken Pharmaceutical$494M$35M1.4x1.3x19.4x15.4x
Pacira BioSciences$726M$100M1.6x1.5x11.4x6.2x
Daewoong Pharmaceutical$1.1B$184M1.4x1.4x8.6x7.8x

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Common questions about Forendo Pharma

When was Forendo Pharma founded?Forendo Pharma was founded in 2013.
Where is Forendo Pharma headquartered?Forendo Pharma is headquartered in Turku, Finland.
Is Forendo Pharma publicly listed?No, Forendo Pharma was acquired by Organon Pharma Indonesia in November 2021.
Who acquired Forendo Pharma?Forendo Pharma was acquired by Organon Pharma Indonesia in November 2021.
How much was Forendo Pharma acquired for?Forendo Pharma was acquired for $955M in November 2021.
How much funding has Forendo Pharma raised?Forendo Pharma has raised $27M across 4 funding rounds.
What was Forendo Pharma's last funding round?Forendo Pharma's last funding round was a $6M Series A in July 2019, led by Sunstone Life Science Ventures.
Who are Forendo Pharma's investors?Forendo Pharma's investors include M Ventures, Novartis Venture Fund, Novo Holdings, KDventures, Vesalius Biocapital Partners, Finnvera Venture Capital, Innovestor and Sunstone Life Science Ventures.
Which companies are comparable to Forendo Pharma?Companies comparable to Forendo Pharma include Solid Biosciences, InduPro, Changchun BCHT, Zhejiang Ausun, Chengdu Kanghua and Bionyra.

See companies similar to Forendo Pharma

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