Orphazyme, a Danish late-stage biotech developing protein therapies for rare neurodegenerative diseases, filed on Friday with the SEC to raise up to $115 million in an initial public offering. The company is currently listed on the Nasdaq Copenhagen under the symbol "ORPHA."
Orphazyme is developing heat shock proteins to develop novel therapies for neurodegenerative orphan diseases. The company submitted an NDA for product candidate arimoclomol with the FDA for Niemann-Pick disease Type C (NPC) in July 2020, and it plans to submit a marketing authorization application to the EMA in the 2H20. In its Phase 2/3 trial of arimoclomol in NPC, the company observed evidence of slowing of disease progression.
The Copenhagen, Denmark-based company was founded in 2009 and plans to list on the Nasdaq under the symbol ORPH. Orphazyme filed confidentially on June 30, 2020. BofA Securities, Cowen and Guggenheim Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
