Orvida Pharma Announces Interim Financing Led by Recordati to Advance Ontivatrep Development for Rare Genetic Skin Diseases

Proceeds to support continued clinical development of ontivatrep, an oral TRPV3 inhibitor, with Phase 1b topline results in Olmsted syndrome expected by the end of 2026

NESS ZIONA, Israel, Sept. 15, 2026 (GLOBE NEWSWIRE) -- Orvida Pharma, a clinical-stage biotechnology company developing first- and best-in-class treatments for rare and severe genetic skin diseases, today announced the completion of an interim financing led by Recordati, a global pharmaceutical group headquartered in Milan, Italy, with a dedicated Rare Diseases business, alongside continued participation from Orvida’s existing shareholders.

The financing provides additional resources to support the continued development of Orvida’s lead investigational therapy, ontivatrep (formerly KM-023), a highly specific and selective oral TRPV3 inhibitor. The financing will also support the advancement of the Company’s broader pipeline of programs in additional rare genetic skin disease indications.

“We are very pleased to welcome Recordati as an investor in Orvida and grateful for the continued support of our existing shareholders,” said David Aviezer, PhD, MBA, Chief Executive Officer of Orvida Pharma. “Recordati’s investment brings an important new pharmaceutical investor to Orvida and strengthens our ability to advance ontivatrep as we approach an important milestone: the first clinical data from patients with Olmsted syndrome. With favorable Phase 1a safety data supporting the program and ontivatrep now being evaluated in patients for the first time, we are focused on delivering the clinical data needed to guide its continued development. We look forward to building on this momentum and working toward advancing a potential new treatment option for patients living with Olmsted syndrome.”

Ontivatrep is being developed for Olmsted syndrome, severe keratodermas and ichthyosis, rare genetic skin diseases characterized by significant unmet medical need. Olmsted syndrome is a rare and severe genetic skin disorder that causes painful, thickened skin, particularly on the palms and soles, and can significantly impair mobility and quality of life and, in some cases can be life-threatening. There are currently no approved therapies for Olmsted syndrome.

In April 2026, Orvida reported favorable Phase 1a safety data for ontivatrep from a randomized, placebo-controlled study in 40 healthy volunteers. The Company has since initiated the Phase 1b clinical trial in patients with Olmsted syndrome in Europe and the U.S. The study is designed to evaluate the safety, tolerability and pharmacokinetics of ontivatrep, as well as exploratory measures of clinical activity, following 12 weeks of twice-daily treatment. Topline results are expected in the fourth quarter of 2026.

Orvida will deliver a corporate presentation during the BIO-Europe 2026 conference, taking place November 9–11, 2026, in Cologne, Germany, and will also participate in the Jefferies Global Healthcare Conference in London, November 16–19, 2026. The Company will be available for one-on-one meetings with investors and pharma companies at both conferences.

About Orvida Pharma

Orvida Pharma (formerly Kamari Pharma) is a clinical-stage biotechnology company developing first- and best-in-class treatments for rare and severe genetic skin diseases. The Company’s lead investigational candidate, ontivatrep, is a novel, highly specific, and selective oral TRPV3 inhibitor being developed for the treatment of Olmsted syndrome, severe keratodermas and ichthyosis. Orvida’s management team comprises industry leaders with deep expertise in drug discovery, dermatological pharmaceutical development, and rare disease therapeutics.

About Recordati

Recordati is an international pharmaceutical group listed on the Italian Stock Exchange (XMIL: REC), with roots dating back to a family-run pharmacy in Northern Italy in the 1920s. The group is uniquely structured to provide treatments across Specialty & Primary Care, Consumer Healthcare and Rare Diseases. Its fully integrated operations span clinical development, manufacturing of active ingredients and finished products, commercialization and licensing. Recordati operates in approximately 150 countries across EMEA, the Americas and APAC, with around 4,700 employees.

Contact Information

Investors and Media
Marcy Nanus
Managing Partner
Trilon Advisors, LLC
mnanus@trilonadvisors.com