Enterprise Therapeutics, a drug discovery company dedicated to the research and development of novel therapies for the treatment of respiratory diseases, has announced that it has closed a £4 million 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 mucoregulatory 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 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 mucoregulatory 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.”