Orphazyme raises €80m in oversubscribed IPO

Due to multiple oversubscription, Orphazyme Aps achieved a post-money market capitalisation of €214. In June, the company had closed a €14m Series B financing series including LSP and the ALS Investment Fund joining the investor syndicate comprising of Kurma Partners, Idinvest Partners, Novo A/S, Sunstone Capital and Aescap Venture.

After the IPO, Orphazyme’s major shareholder Novo Holdings A/S holds 13.6% of the total share capital and voting rights, Orpha Pooling B.V. is second with 12.2%, followed by Sunstone Life Science Ventures with 9.1% and Aescap Venture Management B.V. with 8.9% of the total share capital and voting rights. Kurma Partners, Idinvest Partners, and LSP hold less than 5% in the company.

Orphazyme ApS is a Danish one product company whose candidate drug arimoclomol is being tested in Phase I-III trials https://www.orphazyme.com/clinical-programme/  against the lysosomal storage disease Niemann-Pick disease type C. Other indications include Gaucher disease and the neuromuscular disorders sporadic Inclusion Body Myositis (siBM) and Amyotrophic Lateral Sclerosis (ALS). Arimoclomol works by stimulating stressed cells to produce the Heat Shock Protein 70 (HSP70), which in turn helps cells to correctly process accumulated waste products that have reached toxic levels and triggers refolding of proteins into its functional form.

According to the brand-new BIOCOM capital market report, €2.49bn were raised by European biotech firms in 2017, an increase of 23% compared to 2016. The report provides in-depth analyses all of the European biotech firms listed on one of the 14 trading centres in Europe or on the US Nasdaq.