- Companies
- Forendo Pharma
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
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
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales, Licensing
Valuation
$955M (acquired Nov 2021)
Sectors
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.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 11 Nov 2021 | Strategic 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
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jul 2019 | Series A | Sunstone Life Science Ventures (lead); M Ventures; Novartis Venture Fund; Novo Holdings; Vesalius Biocapital Partners | $6M | Forendo 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 2018 | Seed | Vesalius Biocapital Partners (lead); M Ventures; Novartis Venture Fund; Novo Holdings; KDventures; Innovestor | $5M | - |
| Oct 2014 | Series A | M Ventures (lead); Novartis Venture Fund (lead); Novo Holdings; Finnvera Venture Capital; KDventures | $15M | - |
| Jun 2013 | Series A | KDventures | $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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Oct 2014 | ||
| 3 | Lead | Oct 2014 | ||
| 3 | Participant | Oct 2014 | ||
| 3 | Participant | Jun 2013 | ||
| 2 | Lead | Sep 2018 | ||
| 1 | Participant | Oct 2014 | ||
This data is available for Pro users. Sign up to see all 8 Forendo Pharma investors. Start Free Trial | ||||
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Start Free TrialForendo 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | - | ($183M) | $951M | - | ||
| Private | - | - | $950M | - | ||
| Publicly listed | $90M | ($30M) | $941M | 10.9x | ||
| Publicly listed | $118M | $29M | $941M | 6.5x | ||
| Publicly listed | $174M | $50M | $974M | 4.4x | ||
| Private | - | - | $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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | ($183M) | - | - | (3.2x) | (2.7x) | |||
| $90M | ($30M) | 10.7x | 10.9x | (32.5x) | (36.5x) | |||
| $118M | $29M | 7.1x | 6.5x | 28.9x | 15.3x | |||
| $174M | $50M | 4.7x | 4.4x | 16.6x | 16.3x | |||
| $425M | $82M | 2.0x | 1.9x | 10.2x | 8.4x | |||
| $494M | $35M | 1.4x | 1.3x | 19.4x | 15.4x | |||
| $726M | $100M | 1.6x | 1.5x | 11.4x | 6.2x | |||
| $1.1B | $184M | 1.4x | 1.4x | 8.6x | 7.8x | |||
This data is available for Pro users. Sign up to see all Forendo Pharma competitors and their valuation data. Start Free Trial | ||||||||
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. |
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