Orbis Medicines receives funding for the development of oral biologics

Orbis Medicines, a biotechnology company based in Denmark, has recently achieved a significant milestone in its funding journey. The company has successfully secured €90 million ($94 million) in a Series A funding round, marking a substantial boost to its financial resources. This impressive sum will be directed towards advancing the development of Orbis Medicines' innovative oral macrocycle drugs, which the company has branded as ⁿCycles.

The funding round was spearheaded by New Enterprise Associates (NEA), a prominent venture capital firm. Several new investors also participated in this round, including pharmaceutical giant Eli Lilly, investment firm Cormorant, and the Export and Investment Fund of Denmark. This recent influx of capital builds upon Orbis Medicines' previous funding success, where they raised €26 million ($28 million) in seed funding from Novo Holdings and Forbion when the company launched in February 2024.

Orbis Medicines, under the leadership of CEO Morten Graugaard, is tackling a significant challenge in the pharmaceutical industry. The company's primary focus is on creating oral alternatives to injectable biologics, particularly for the treatment of chronic diseases. This ambitious goal centers around the development of macrocycles, which are large ring-like compounds composed of amino acids or other building blocks.

Macrocycles have long been recognised for their strong therapeutic potential, primarily due to their ability to bind selectively to biological targets. Notable examples of successful macrocycle drugs include the immunosuppressant cyclosporine and the antibiotic erythromycin. However, the development of macrocycles into oral drugs has historically been hindered by challenges related to stability, absorption, and bioavailability.

In pursuit of its goals, Orbis Medicines has been strategically expanding its operations and forming key partnerships. In September 2024, the company announced a research collaboration with Vivtex to leverage its gastrointestinal robotic interface system (GI-ORIS). This platform is designed to assess gut permeability, a crucial factor in determining the oral bioavailability of Orbis' ⁿCycles portfolio. The following month, Orbis Medicines further expanded its operations by joining Symbion's new biotech startup hub in Fuglebakken, Copenhagen, signalling its commitment to growth and innovation.

The macrocycle space has been gaining momentum across the pharmaceutical industry. Major players like MSD (Merck Sharp & Dohme) are making significant strides in this area. MSD is currently in late-stage clinical development for a macrocyclic peptide drug called MK-0616 (enlicitide decanoate), which targets PCSK9 in patients with hypercholesterolemia. According to GlobalData, this candidate is projected to generate $1.5 billion by 2030 if approved, underscoring the potential of macrocycle drugs in the market.

MSD has further demonstrated its interest in macrocycles by entering into a $220 million deal with Unnatural Products (UNP), an AI-based biotech company developing macrocyclic candidates. Other companies in the field are also making progress, such as Circle Pharma, which raised $54 million in a Series D round in July 2024 and subsequently signed a deal with Boehringer Ingelheim in October of the same year.

Reflecting on the company's recent funding success and future prospects, Orbis Medicines CEO Morten Graugaard stated, "We have a clear strategy for rapid value creation that leverages the unique capabilities of our ⁿGen platform and are excited to advance this important new class of drugs for patients."

This statement underscores the company's confidence in its approach and the potential impact of its ⁿCycles technology on patient care.

The substantial funding secured by Orbis Medicines represents a significant vote of confidence in the company's innovative approach to drug development. As the field of macrocycle drug development continues to evolve, Orbis Medicines appears well-positioned to play a leading role in bringing new oral treatment options to patients with chronic diseases.