Orbis fundraise shows growing interest in macrocyclic drugs

The 90 million euros ($94 million) raised by Orbis Medicines in a series A round was not January’s biggest venture investment by a long stretch. That honor belonged to the whopping $410 million netted by UK obesity group Verdiva Bio, but what Orbis’s VC round does show is the growing interest in macrocyclics as a drug class.

Orbis’ haul comes courtesy of lead investor New Enterprise Associates (NEA), while big pharma validation was provided by new investor Eli Lilly (NYSE: LLY). Local support for the Danish company was given by founding investors Novo Holdings, Forbion and the Export and Investment Fund of Denmark.

Orbis, which was launched by Novo Holdings' seed investment team, will be using the money to advance its program of oral microcyclics. While macrocyclic drugs have been available for years – witness Pluvicto (lutetium-177 vipivotide tetraxetan), Novartis’ (NOVN: VX) radioligand therapy for prostate cancer – most are biologics, which have limitations, including their infusion and injectable administration.