Opko Health

Opko Health

OPK
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Private Company

Total funding raised: $135M

Market Cap: $849.5MFounded: 2007HQ: Miami, United States

Overview

OPKO Health is a unique, fully-integrated biopharmaceutical and diagnostics company founded in 2007. Its core strategy combines the steady, high-volume revenue of its BioReference Laboratories diagnostics business with targeted therapeutic R&D in multispecific antibodies and long-acting delivery technologies. Key achievements include the global commercialization of NGENLA™ (somatrogon) with Pfizer and the marketing of RAYALDEE® for secondary hyperparathyroidism, while its research subsidiary, ModeX Therapeutics, advances a novel pipeline with partners like Merck and Regeneron. This hybrid model aims to de-risk drug development while pursuing transformative medicines for complex diseases.

EndocrinologyNephrologyOncologyInfectious Diseases

Technology Platform

Proprietary multispecific antibody platform capable of targeting up to six distinct pathways in a single molecule, and a nanoparticle vaccine platform designed to enhance antigen presentation and immunogenicity.

Funding History

4
Total raised:$135M
Debt$100M
IPOUndisclosed
Series B$25M
Series A$10M

Opportunities

The global shift to long-acting growth hormone formulations and expansion into adult GHD presents a near-term revenue growth opportunity for NGENLA™.
The multispecific antibody platform, validated by partnerships with Merck and Regeneron, offers a long-term, high-upside opportunity to create transformative therapies for complex cancers and infectious diseases in a rapidly advancing field.

Risk Factors

Clinical failure of the novel multispecific antibody pipeline (e.g., MDX2004) is a major risk, as is dependency on partners like Pfizer for commercialization success.
The company's financial model relies on efficiently managing a low-margin, highly competitive diagnostics business to fund R&D, creating execution complexity and continuous cash flow pressure.

Competitive Landscape

OPKO faces intense competition across all segments: in long-acting growth hormone from Novo Nordisk, in secondary hyperparathyroidism from Amgen and generics, and in multispecific antibodies from well-capitalized giants like Regeneron and Roche. Its diagnostics business competes directly with giants LabCorp and Quest Diagnostics on scale and cost.

Company Timeline

2007Founded

Founded in Miami, United States

2009Series B

Series B: $25.0M

2013IPO

Initial Public Offering

2017Debt

Debt: $100.0M