Enterprise Therapeutics, a Brighton, UK-based biopharmaceutical company dedicated to the discovery and development of novel therapies for respiratory disease, raised £26M in Series B follow-on funding.
The round was led by Panakes Partners. Existing investors Versant Ventures, Novartis Venture Fund, Forbion, Epidarex Capital and IP Group also participated. Alongside the financing, Dr Rob Woodman, Partner at Panakes, joins Enterprise’s Board of Directors.
The company intends to use the funds to accelerate the Phase 2a clinical trial of its lead program, ETD001, to deliver clinical proof of concept to treat cystic fibrosis and expand clinical activities into Italy via addition of clinical investigator sites and progression of its other preclinical programs targeting mucus congestion.
Led by CEO Dr John Ford, CEO, Enterprise Therapeutics is a biopharmaceutical company dedicated to the discovery and development of novel therapies to improve the lives of patients suffering from respiratory disease. Its lead program, ETD001, is a novel low molecular weight compound that targets the ENaC ion channel in the airway epithelium, increasing the hydration and clearance of mucus. ETD001 has been designed to be long acting, delivering durable target engagement, which is expected to drive substantial improvements in lung function. The trial will involve a cross-over design study assessing FEV1 lung function in people with cystic fibrosis who are either ineligible for or are not receiving CFTR modulators.
FinSMEs
30/01/2024