Enobia Pharma Inc., a Montreal, CAnada-based clinical stage biotech company focused on developing novel therapeutics for serious bone disorders, has raised US$40m in funding.
The company intends to use the proceeds to fund the ongoing development of ENB-0040, its enzyme replacement therapy (ERT) for hypophosphatasia, a rare and potentially life threatening genetic bone disorder for which there is no currently approved therapy.
Enobia has completed two 6-month clinical studies in hypophosphatasia; a phase I/II study initiated in October 2008 in infants and young children with life threatening hypophosphatasia, and a phase II study in children aged 5-12. The company, which is currently in Phase IIb clinical development, is also enrolling additional infants and children under the age of 5.
ENB-0040 manufactured at commercial scale is now being used in clinical trials.