Enterprise Therapeutics closes £26 million ($33.1 million) Series B follow-on financing

Enterprise Therapeutics Ltd (Enterprise), a biopharmaceutical company dedicated to the discovery and development of novel therapies to improve the lives of patients suffering from respiratory disease, today announced that it has closed a £26 million ($33.1 million USD) Series B follow-on financing round, 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 investment will fund the Phase 2a clinical trial of the Company’s lead programme, ETD001, to deliver clinical proof of concept to treat cystic fibrosis. ETD001, a novel low molecular weight compound with first-in-class potential, 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.

Enterprise’s pipeline of disease-modifying therapies targets the underlying mechanisms of mucus congestion, to enhance the clearance of mucus from the airways, restore lung function, and ultimately to reduce morbidity and mortality in chronic respiratory diseases of high unmet medical need, such as cystic fibrosis, chronic obstructive pulmonary disease and severe asthma. Enterprise has established an Italian subsidiary to support R&D activities. This funding will enable the expansion of the Company’s clinical activities into Italy via addition of clinical investigator sites and progression of its other preclinical programmes targeting mucus congestion.

We have made tremendous progress to date in developing novel therapeutics for patients suffering from chronic respiratory diseases. Such medicines are essential to reduce the frequency of lung infections and improve patient quality of life. On behalf of Enterprise’s leadership team, I would like to thank all our investors, both historical and new, for their recognition of the strength of Enterprise’s pipeline, and welcome Rob as a valuable addition to the Board.”

Dr John Ford, CEO, Enterprise Therapeutics

Dr Rob Woodman, Partner, Panakes, commented: “Knowing the quality and track record of the Enterprise team, I am delighted to now be part of the next stage of its development. We strongly believe that Enterprise’s approach offers the potential to impact the future of therapeutics for a range of respiratory diseases, including cystic fibrosis, and that the Company is well positioned to be a leader in the field.”


Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Enterprise Therapeutics Ltd. (2024, January 31). Enterprise Therapeutics closes £26 million ($33.1 million) Series B follow-on financing. News-Medical. Retrieved on April 15, 2024 from https://www.news-medical.net/news/20240131/Enterprise-Therapeutics-closes-c2a326-million-(24331-million)-Series-B-follow-on-financing.aspx.

  • MLA

    Enterprise Therapeutics Ltd. "Enterprise Therapeutics closes £26 million ($33.1 million) Series B follow-on financing". News-Medical. 15 April 2024. <https://www.news-medical.net/news/20240131/Enterprise-Therapeutics-closes-c2a326-million-(24331-million)-Series-B-follow-on-financing.aspx>.

  • Chicago

    Enterprise Therapeutics Ltd. "Enterprise Therapeutics closes £26 million ($33.1 million) Series B follow-on financing". News-Medical. https://www.news-medical.net/news/20240131/Enterprise-Therapeutics-closes-c2a326-million-(24331-million)-Series-B-follow-on-financing.aspx. (accessed April 15, 2024).

  • Harvard

    Enterprise Therapeutics Ltd. 2024. Enterprise Therapeutics closes £26 million ($33.1 million) Series B follow-on financing. News-Medical, viewed 15 April 2024, https://www.news-medical.net/news/20240131/Enterprise-Therapeutics-closes-c2a326-million-(24331-million)-Series-B-follow-on-financing.aspx.


The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of News Medical.
Post a new comment

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.