Orphazyme burned through millions of dollars in futile fight for success

Biotech is an expensive business, something Orphazyme can attest to. Over the years, it spent hundreds of millions of dollars developing its main asset, without ever crossing the finish line.

Photo: Nikolaj Skydsgaard/Reuters/Ritzau Scanpix

Despite its best efforts, biotech firm Orphazyme never managed to make an approved drug out of its candidate arimoclomol. This was despite the firm spending billions of kroner on the candidate.

To be exact, Orphazyme has reported bottom-line deficits of a total of DKK 2.17bn (USD 313m) since its first financial report was released for the 2009/2010 accounting year, MedWatch has calculated based on an analysis of publicly available Orphazyme annual reports.

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