VC-backed Orphazyme Buys CytRx Assets

Copenhagen-based Orphazyme ApS, which is backed by Novo A/S and Sunstone Capital, has acquired the molecular chaperone assets of publicly traded biopharmaceutical company CytRx Corporation. Formed in 2009, Orphazyme develops molecular chaperone therapies to treat rare genetic lysosomal diseases. The company could pay up to $120 million for the CytRx assets, in addition to certain royalty payments.

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