Enterprise Therapeutics Ltd, a Brighton, England, UK-based biopharmaceutical company dedicated to the research and development of novel therapies for the treatment of respiratory diseases, closed an oversubscribed £29m ($41m) Series B funding.
The round was co-led by Versant Ventures and Novartis Venture Fund. The syndicate also included new investor Forbion, founding investor Epidarex Capital and existing investor IP Group.
The company intends to use the funds to advance its drug discovery pipeline of muco-regulatory therapies into clinical development, enabling new treatment options for cystic fibrosis, chronic obstructive pulmonary disease and severe asthma.
Led by Dr John Ford, CEO, Enterprise Therapeutics is developing muco-regulatory therapies to treat patients with respiratory diseases, where mucus obstruction reduces lung function, leading to difficulty in breathing and recurrent lung infections. These novel therapies target the ion channels TMEM16A and ENaC, to increase the hydration and clearance of mucus.
The company has also identified novel targets and compounds that reduce mucus production, an approach that complements mucus hydration therapies.