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Jazz roots helped Orbus raise series A for orphan play with generic candidate

August 24, 2015 7:00 AM UTC

Some of the founders and backers of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) are taking a new shot at the Orphan disease space with Orbus Therapeutics Inc. Following last week's $32.5 million series A round, Orbus hopes to take a generic cytostatic compound into Phase III testing and carve out a niche in a rare form of brain cancer.

Orbus was founded in 2012 by President and CEO Bob Myers and COO Jason Levin. Until last week, the duo has been funding the company out of their own checkbooks, according to Myers. ...