Raises Series B round co-led by Versant Ventures and Novartis Venture Fund, with Forbion, Epidarex and IP Group completing the syndicate
Funding will advance pipeline of novel treatments for respiratory diseases (cystic fibrosis, chronic obstructive pulmonary disease and asthma) into clinical development, including Phase 2 proof of concept
Enterprise Therapeutics today announced that it has closed an oversubscribed £29 million ($41 million USD) Series B round 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 investment will fund the Company's drug discovery pipeline of muco-regulatory therapies into clinical development, enabling new treatment options for cystic fibrosis, chronic obstructive pulmonary disease and severe asthma.
Enterprise Therapeutics is developing muco-regulatory therapies to treat patients with respiratory diseases of high unmet medical need, 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. Enterprise Therapeutics has also identified novel targets and compounds that reduce mucus production, an approach that complements mucus hydration therapies.