Orbis Medicines, an oral macrocycle drug discovery company, closed a €90 million Series A funding round, bringing the total amount raised by the company to €116 million. The funds will support the development of Orbis’ pipeline of next-gen oral macrocycle drugs, called ‘nCycles.’

This financing was led by New Enterprise Associates with participation from new investors including Eli Lilly and Co., Cormorant, the Export and Investment Fund of Denmark and founding investors Novo Holdings and Forbion.

Morten Graugaard has been named the Chief Executive Officer of Orbis Medicines following three years serving as Executive Chair of its Board of Directors. Mr. Graugaard brings more than 20 years of experience in life sciences including venture investing, R&D, business development, corporate development and strategy to Orbis’ leadership team.

Orbis Medicines is focused on pioneering a new era for oral macrocycle drug discovery. Macrocycles are a large and diverse family of compounds with highly desirable therapeutic properties but historically have been challenging to develop as oral drugs. Orbis Medicines’ programs are focused on high-value oral alternatives to blockbuster biologic drugs and targets to maximize value for patients.

“The support from this particular group of investors is further validation of the exemplary science and exciting potential of Orbis Medicines. The company is advancing the potential of macrocycles by developing orally available nCycles,” said Morten Graugaard, newly appointed Orbis CEO. “The interest we have received demonstrates the market appetite for nCycles as an oral approach to both validated biologic targets and targets undruggable by other modalities. We have a clear strategy for rapid value creation that leverages the unique capabilities of our nGen platform and are excited to advance this important new class of drugs for patients.”