DUBLIN--(BUSINESS WIRE)--Oranda Therapeutics, a new Irish headquartered rare disease company with an innovative, fast to market, commercial approach, today announces the launch of their Series A Funding round to coincide with a period of exclusivity to finalise a licensing agreement for EMEA commercialisation rights for a novel medicine undergoing evaluation for treatment of hyperphagia in patients with Prader-Willi syndrome (PWS) with potential peak sales of over €100m.
The Company has entered into exclusive negotiations for a novel medicine, currently being evaluated in a Phase 2b study for the treatment of hyperphagia Prader-Willi syndrome (PWS). Subject to study outcome, this medicine is scheduled to commence a pivotal Phase 3 study in 2025.
Additionally, the Company has secured a portfolio of established rare disease medicines for commercialisation with the first launch planned for H1 2026.
Commenting on the announcement, Oranda Co-founder and CEO, Ahmed Al-Derzi, said: “We see an opportunity to improve the lives of those living with rare diseases, by expanding access to both established and novel rare disease medicines. Our shareholders will benefit from our team’s agility and vast experience in commercial excellence. We aim to be the partner of choice for BioPharma organisations with rare disease medicines, with our core mission of improving the lived experience of patients and their families.”
John Irwin, Oranda’s Co-founder and CCO, added: “We have seen a huge increase in products approved to treat orphan diseases over the last 20 years. Yet research shows, that only 37 per cent of these medicines are widely available throughout Europe. Our aim at Oranda Therapeutics, is to expand patient access to these established rare disease medicines, whilst simultaneously investing in the development and commercialisation of novel rare disease medicines in areas where we have domain expertise.”
Oranda is seeking funds for asset acquisition and the scale-up of its European commercial operations. Investors can benefit from timely exposure to the European rare disease market, a highly experienced leadership team, a portfolio of near-term commercial opportunities and a lead pipeline asset.
https://www.orandatherapeutics.com/
About the Founders
The leadership team at Oranda have led more than 20 successful European rare disease medicine launches. Ahmed Al-Derzi, CEO, is an experienced entrepreneur and business developer with more than 25 years in the industry. Previously, as Group CEO of Consilient Health, he was responsible for taking the business from a start-up to 100 employees, €70m in revenues and a presence in eight markets. John Irwin, CCO, brings more than 20 years’ experience in commercialising high-value orphan medicines in Europe and beyond, combined with a track record of developing and delivering initiatives to secure patient access for rare disease medicines.
About Prader-Willi syndrome
Prader-Willi syndrome (PWS) is a rare, complex genetic disorder that affects both males and females from birth and throughout their lives. It causes a wide range of physical symptoms, mild to moderate learning difficulty, and emotional and social immaturity, which can lead to challenging behaviours.
PWS is characterised by an overwhelming and insatiable chronic hunger (hyperphagia) which, without rigorous food management and exercise regimes, leads to incessant food seeking and life-threatening obesity. PWS occurs randomly in about 1:22,000 births in Europe. There are currently no approved therapies for the treatment of hyperphagia or behavioural aspects of the disorder.
Contacts
For more information on Oranda, please contact: info@orandatherapeutics.com
For media enquiries, please contact Richard Oakley at Oxygen Health Communications - richard@oxygenmediacomms.com
