Enterprise Therapeutics, 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 financing deal. 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 mecahnisms 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 of Enterprise Therapeutics, said: "Respiratory disease remains an are of high unmet medical need especially in the area of CF where existing therapies do no treat all patients. This additional funding will allow us to advance our research projects and mover 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 of Epidarex, also commented: "Based on excellent achievement of project milestones across all the 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-regulatoru approach that Enterprise is taking to combat respiratory diseases."
"Enterprise Therapuetics has made significant progress in the 18 months since Imperial Innovations first invested", said Dr Rob Woodman, Investor Director of Imperial Innovations. "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