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Enterprise Therapeutics Ltd, a drug discovery company dedicated to the research and development of novel therapies for the treatment of respiratory diseases, today announced that it has closed a £4 million ($5 million USD) financing. The funding was led by existing investors Epidarex Capital and Imperial Innovations and will be used to accelerate the Company’s three drug discovery projects towards drug candidate selection.
Enterprise Therapeutics is developing novel muco-regulatory therapies for patients suffering with cystic fibrosis (CF), Chronic Obstructive Pulmonary Disease (COPD) and severe asthma. To achieve this, the Company is targeting mechanisms that increase the clearance of mucus or reduce levels of mucus production in order to alleviate the symptoms and complications associated with respiratory disease.
Commenting on the fundraising, Dr John Ford, CEO, Enterprise Therapeutics, said: “Respiratory disease remains an area of high unmet medical need especially in the area of CF where existing therapies do not treat all patients. This additional funding will allow us to advance our research projects and move closer towards our goal of evaluating the efficacy of muco-regulatory drugs in patients. I look forward to working with the team and our investors in this important next stage of growth.”
Dr Liz Roper, Investor Director, Epidarex, commented: “Based on excellent achievement of project milestones across all three discovery projects at Enterprise Therapeutics we are providing this additional investment to put the company in a strong position as it continues to progress towards the clinic. We are committed to the novel muco-regulatory approach that Enterprise is taking to combat respiratory diseases.”
Dr Rob Woodman, Investor Director, Imperial Innovations commented: “Enterprise Therapeutics has made significant progress in the 18 months since Imperial Innovations first invested. We believe that the Company has the potential to become a leading player in respiratory disease.”
For more information about Enterprise Therapeutics, visit www.enterprisetherapeutics.com
Notes for Editors:
For further information please contact:
Lorna Cuddon, Zyme Communications
Tel: +44 (0)7811996942
About Enterprise Therapeutics www.enterprisetherapeutics.com
Enterprise Therapeutics is a drug discovery company dedicated to the research and development of novel therapies for the treatment of respiratory diseases. The company is backed by Epidarex Capital and Imperial Innovations and based in the UK.
In diseases such as cystic fibrosis, asthma and COPD the lungs become congested with mucus leading to difficulty in breathing. Enterprise Therapeutics’ scientific strategy is aimed at discovering new disease modifying therapies that target the underlying mechanisms of mucus congestion which will reduce the frequency of lung infections and improve patient quality of life.
These novel muco-regulatory therapies will be achieved through targeting TMEM16A and ENaC to increase the hydration and clearance of mucus. Enterprise has also identified novel targets and compounds that reduce mucus production, an approach that complements mucus hydration therapies.
Its management team has significant expertise in drug discovery, drug development, respiratory biology and ion channel pharmacology. The Company benefits from a close working relationship with the School of Life Sciences at the University of Sussex.
About Cystic Fibrosis (CF)
CF is the most common lethal genetic disease of Caucasians with an estimated 100,000 patients worldwide. The average life expectancy, although improving, is approximately 40 years.
About Chronic Obstructive Pulmonary Disease (COPD)
COPD is a chronic disease characterised by a progressive and irreversible decrease in lung function. Globally, COPD is reported to affect over 300 million people and in 2012 was the world’s third highest killer. The estimated economic cost of COPD is >$2 trillion.
About Severe Asthma
Patients with severe asthma are either refractory or poorly managed by current therapies (bronchodilators, steroids). Severe asthma patients comprise around 5% of the estimated 300 million global asthma patients.
About Epidarex Capital
Epidarex Capital invests in early-stage, high growth life science and health technology companies in under-ventured markets within the UK and US. Epidarex was created to meet the need for more sector-specific risk capital for young companies, including spin-outs from leading research universities. The fund’s international management team has a track record of successfully partnering with top scientists and entrepreneurs to develop highly innovative products for the global healthcare market. For further information please visit www.epidarex.com
About Imperial Innovations
Innovations supports scientists and entrepreneurs in the commercialisation of their ideas through the licensing of intellectual property, by leading the formation of new companies, providing facilities in the early stages, providing investment and encouraging co-investment to accelerate development, providing operational expertise and recruiting high-calibre management teams. It also runs an incubator in London that is the initial home for many of its technology spin-outs. For further information please visit www.imperialinnovations.co.uk