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Orphazyme Raises Funds, Approaching Markets With Novel Niemann-Pick Therapy

Lead Compound A Heat Shock Protein Amplifier

 
• By John Davis

Denmark’s Orphazyme has raised more funds to market its lead product, the heat shock protein amplifier, arimoclomol, in the US and Europe, and to evaluate the compound for other lysosomal storage and neurodegenerative disorders.  

Shield
Arimoclomol Increases Chaperone Proteins, Shielding Cells From Damage • Source: Shutterstock

Denmark’s biotech Orphazyme A/S is raising between $83m and $97m from an offering of American Depositary Shares (ADSs) on NASDAQ in the US and a private placement in Europe, as it nears the market with its lead candidate, arimoclomol, for the ultra-orphan disease, Niemann-Pick disease Type C. 

It’s the second time this year that NASDAQ Copenhagen-listed Orphazyme has raised funds to support the development and commercialization of arimoclomol, which the company characterizes as a “pipeline-in-a-product”; in February 2020 the company completed an

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