Orphazyme, a Danish late-stage biotech developing protein therapies for rare neurodegenerative diseases, raised $84 million by offering 7.6 million ADS equivalents at $11, below the as-converted last close of its shares on the Nasdaq Copenhagen (ORPHA). At pricing, the company raised -16% less in proceeds than anticipated.
Orphazyme plans to list on the Nasdaq under the symbol ORPH. BofA Securities, Cowen and Guggenheim Securities acted as lead managers on the deal.
