Orphazyme Valuation, Funding & Investors

Orphazyme is valued at $246M as of November 2017.

Last Orphazyme valuation

$246M

Undisclosed stage · Nov 2017

Last Orphazyme funding round

$95M

Undisclosed stage · Nov 2017

Cumulative funding Orphazyme raised

$134M

across 3 funding rounds

Key investors in Orphazyme

  • Idinvest Partners
  • Kurma Partners
  • Sunstone Life Science Ventures
  • Aescap Venture
  • Novo Holdings
  • EQT

Orphazyme Overview

About Orphazyme

Orphazyme is a biopharmaceutical company focused on lysosomal storage diseases. The firm develops therapies emerging from research at the Danish Cancer Society, collaborating with institutions in Europe and the US. Copenhagen-based Orphazyme advances enzyme activators for genetic disorders.


Founded

2009

HQ

DenmarkCopenhagen

Status

Privately held

Customer focus

B2B

Revenue model

Licensing

Valuation

$246M (Nov 2017)

Orphazyme Valuation

Orphazyme is currently valued at $246M, based on its undisclosed-stage round in November 2017.

The $95M round was led by Kurma Partners, with participation from EQT, Novo Holdings, Aescap Venture, Idinvest Partners and Sunstone Life Science Ventures.

Orphazyme's valuation has grown 1.0x from $245M at its Series A in March 2017 to $246M in November 2017, across 2 priced rounds.

Orphazyme valuation by funding round

Orphazyme valuation by funding round
DateStageValuation
Nov 2017Undisclosed stage$246M
Mar 2017Series A$245M

Orphazyme Funding History

Orphazyme has raised a total of $134M across 3 funding rounds.

Orphazyme's first fundraising round was a $24M Series B in January 2015. The most recent completed round was a $95M undisclosed-stage round in November 2017.

Orphazyme funding rounds

Orphazyme funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2017Undisclosed stageKurma Partners (lead); EQT; Novo Holdings; Aescap Venture; Idinvest Partners; Sunstone Life Science Ventures$95M$246MOrphazyme A/S, a biopharmaceutical company headquartered in Copenhagen focused on developing therapies for rare diseases caused by protein misfolding or aggregation, particularly neuromuscular diseases like sporadic Inclusion Body Myositis (sIBM) and Amyotrophic Lateral Sclerosis (ALS), as well as lysosomal storage diseases such as Niemann-Pick disease type C (NPC) and Gaucher disease, completed its initial public offering (IPO) on Nasdaq Copenhagen on November 16, 2017. The IPO was several times oversubscribed, raising €80 million (DKK 600 million before overallotment), with a market capitalization of circa €214 million (DKK 1,594 million) at an initial pricing of 80 DKK per share. Kurma Partners, acting as lead investor in the prior Series B financing in January 2015 via Kurma Biofund II, highlighted the IPO as one of Europe's most successful biotech listings, confirming Orphazyme's potential in treatments like its lead candidate arimoclomol, which was in late-stage clinical development for four orphan indications. Pre-IPO major shareholders included Novo Holdings A/S (33.1%), Aescap Venture I U.A. (15.2%), Sunstone Life Science Ventures Fund II K/S (15.6%), LSP V-related Orpha Pooling B.V. (21.0%), Idinvest Partners funds (7.2%), and Kurma Biofund II (6.6%). Post-IPO ownership diluted these stakes, with Novo Holdings at around 19%, Aescap at 8.9%, Sunstone at 9.1%, Orpha Pooling at 13.6%, Idinvest at 4.2%, and Kurma at 4.5%, alongside issuance of new shares from pre-IPO warrants. The net proceeds of DKK 557.4 million from the IPO, combined with pre-IPO capital increases of DKK 156.8 million, bolstered the cash position to DKK 631.7 million by year-end 2017. Orphazyme planned to use IPO funds to advance arimoclomol through Phase II/III trials in NPC, ALS, and sIBM, a Phase II trial in Gaucher disease, and general R&D, aiming for regulatory registration in the EU and US followed by commercialization. Financials for 2017 showed R&D costs rising to DKK 99 million from DKK 55.8 million in 2016, driven by ongoing trials, IND transfers, and manufacturing, resulting in a net loss of DKK 126.2 million versus DKK 57.9 million prior year. The company had approximately 30 employees at IPO and held milestones like Rare Pediatric Disease Designation from the FDA.
Mar 2017Series ANovo Holdings; Aescap Venture; Kurma Partners; Idinvest Partners; ALS Investment Fund; LSP Health Economics Fund; Sunstone Life Science Ventures$15M$245MOrphazyme is a biopharmaceutical company developing arimoclomol as a potential treatment for orphan diseases including sporadic Inclusion Body Myositis (sIBM), Amyotrophic Lateral Sclerosis (ALS), Niemann-Pick disease type C (NPC), and Gaucher disease. The company focuses on therapies for protein-misfolding diseases and went public on Nasdaq Copenhagen on November 16, 2017, with initial pricing of 80 DKK per share, resulting in a market capitalization of approximately 1,594 million DKK (circa €214M). Kurma Partners acted as lead investor in the prior Series B financing in January 2015. In 2017, prior to the IPO, Orphazyme raised capital through increases totaling DKK 156.8 million, contributing to the cash position growth from DKK 14.3 million at end-2016 to DKK 631.7 million at end-2017, alongside IPO net proceeds of DKK 557.4 million. The company reported a net loss of DKK 126.2 million for 2017, up from DKK 57.9 million in 2016, driven by increased R&D costs of DKK 99.0 million (from DKK 55.8 million) for ongoing trials in NPC, Gaucher, ALS, and sIBM, plus general and administrative expenses rising to DKK 32.0 million due to IPO-related costs.
Jan 2015Series BKurma Partners (lead); Aescap Venture; Idinvest Partners; Sunstone Life Science Ventures$24M-Orphazyme ApS, a Copenhagen-based biopharmaceutical company, completed a 20 million Euro Series B financing round on January 9, 2015, led by Kurma Partners with participation from Idinvest Partners and existing investors Novo A/S, Sunstone Capital, and Aescap Venture. The funding supported the initiation of a Phase 2 trial for its lead compound arimoclomol, an orally available small molecule aimed at treating Niemann-Pick disease type C, a lysosomal storage disease, by harnessing the therapeutic potential of heat shock proteins for degenerative diseases. The company focused on severe, mostly fatal rare diseases with high unmet needs, particularly neuromuscular and lysosomal storage diseases. Kurma Partners highlighted Orphazyme's transition from discovery to clinical development, positioning it as a leader in heat shock protein therapies. CEO Anders Hinsby emphasized the commitment from new and existing investors to advance novel therapies for incurable diseases. Later developments included a EUR 14 million financing in 2017 with new investors LSP and ALS Investment Fund, an IPO on Nasdaq Copenhagen in November 2017 raising €80 million at a circa €214 million market capitalization (80 DKK per share), and further capital raises such as approximately DKK 745 million (EUR 100 million) in 2020. Arimoclomol was eventually approved in the US as Miplyffa for Niemann-Pick type C in 2024, though the 2015 investment did not yield financial returns for Kurma despite therapeutic impact.

Who has invested in Orphazyme?

8 investors have backed Orphazyme across its funding rounds, including Idinvest Partners, Kurma Partners, Sunstone Life Science Ventures, Aescap Venture, Novo Holdings and EQT.

Lead investors include Kurma Partners.


Orphazyme Investors

Investors in Orphazyme by funding rounds participated
InvestorHQRoundsRoleFirst check
Aescap VentureNetherlandsAmsterdam3ParticipantJan 2015
Kurma PartnersFranceParis3LeadJan 2015
Idinvest PartnersFranceParis3ParticipantJan 2015
Sunstone Life Science VenturesDenmarkCopenhagen3ParticipantJan 2015
Novo HoldingsDenmarkCopenhagen2ParticipantMar 2017
EQTSwedenStockholm1ParticipantNov 2017

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Orphazyme Competitors

Orphazyme competitors include listed companies like Acepodia, NervGen Pharma and AIM Vaccine, and private ones like BioTroy Therapeutics, DiNovA Medtech and VivaVision Biotech.

Public and private companies comparable to Orphazyme
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BioTroy TherapeuticsChinaXi'anPrivate--$246M-
DiNovA MedtechChinaHangzhouPrivate--$246M-
AcepodiaTaiwanTaiwanPublicly listed$6K($27M)$246M-
VivaVision BiotechChinaShanghaiPrivate--$245M-
NervGen PharmaCanadaCanadaPublicly listed-($32M)$245M-
AIM VaccineChinaChinaPublicly listed$174M($83M)$248M3.0x

Orphazyme Public Comps

Orphazyme is still privately-owned, but its public comps include Acepodia, Jacobson Pharma, NervGen Pharma, AIM Vaccine, Foghorn Therapeutics, Reig Jofré, Akebia Therapeutics, Dong-A ST, ALX Oncology and Camp4 Therapeutics.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Acepodia$6K($27M)25072.6x-(5.5x)-
Jacobson Pharma$200M$69M1.6x-4.6x-
NervGen Pharma-($32M)--(5.8x)(10.3x)
AIM Vaccine$174M($83M)2.9x3.0x(6.1x)-
Foghorn Therapeutics$31M($80M)4.0x3.8x(1.6x)(1.6x)
Reig Jofré$381M$32M1.0x0.9x11.8x9.3x
Akebia Therapeutics$236M$22M0.6x0.7x6.9x-
Dong-A ST$589M$6M0.8x0.8x84.0x10.1x

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Common questions about Orphazyme

When was Orphazyme founded?Orphazyme was founded in 2009.
Where is Orphazyme headquartered?Orphazyme is headquartered in Copenhagen, Denmark.
Is Orphazyme publicly listed?No, Orphazyme is a private, VC-backed company.
What is Orphazyme's valuation?Orphazyme was last valued at $246M in its undisclosed-stage round in November 2017.
How much funding has Orphazyme raised?Orphazyme has raised $134M across 3 funding rounds.
What was Orphazyme's last funding round?Orphazyme's last funding round was a $95M undisclosed-stage round in November 2017, led by Kurma Partners.
Who are Orphazyme's investors?Orphazyme's investors include Aescap Venture, Kurma Partners, Idinvest Partners, Sunstone Life Science Ventures, Novo Holdings, EQT, ALS Investment Fund and LSP Health Economics Fund.
Which companies are comparable to Orphazyme?Companies comparable to Orphazyme include BioTroy Therapeutics, DiNovA Medtech, Acepodia, VivaVision Biotech, NervGen Pharma and AIM Vaccine.

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