Enterprise Therapeutics Ltd, a drug discovery company focused on new therapeutics for respiratory diseases, today announced that it has secured £1.6m ($2.4m) in initial Series-A financing from Epidarex Capital. The proceeds will fund, in parallel, low molecular weight drug discovery and new target identification programs. The company will be based at the University of Sussex.
Respiratory diseases including cystic fibrosis, chronic obstructive pulmonary disease (COPD) and severe asthma represent a major unmet medical need and a significant health burden in both the developed and developing world. Current standard of care medications treat the symptoms of these debilitating diseases by dilating the airways and/or dampening inflammation. Enterprise Therapeutics’ focus is the discovery of novel disease modifying medications that target key drivers of disease pathology and progression. These include targeting the underlying mechanisms of mucus congestion. Enterprise’s lead indication will be cystic fibrosis.
Martin Gosling, CSO of Enterprise Therapeutics commented, “We are delighted that Epidarex Capital has recognised the potential of Enterprise Therapeutics’ drug discovery approach and capabilities. We look forward to working together to discover and develop first in class therapies with the potential to impact the millions of patients with respiratory diseases”.
Liz Roper, Partner at Epidarex Capital stated “Epidarex is excited to have led Enterprise Therapeutics’ initial financing, an investment aligned with our strategy of facilitating the growth and development of high potential, early stage life science companies in the UK and the US. We believe that the significant drug discovery experience and expertise of the company’s founders combined with the novel approach Enterprise is pursuing should deliver differentiated and badly needed therapies”.