Enterprise Therapeutics, a drug discovery company focused on new therapeutics for respiratory diseases, today announced that it has secured an additional £2.4m in Series-A financing. The funds are comprised of £2m by new investor Imperial Innovations, and a £0.4m increase by founding investor Epidarex Capital, bringing the total Series-A round to £4m. The proceeds will consolidate and accelerate the drug discovery and target identification programs initiated by Enterprise Therapeutics earlier this year.
Enterprise Therapeutics' focus is the discovery of novel disease modifying medications that target key drivers of respiratory disease pathology and progression in cystic fibrosis, chronic obstructive pulmonary disease (COPD) and severe asthma. These include targeting the underlying mechanisms of mucus congestion and lung dysfunction.
"We are extremely excited to have secured additional funding from experienced and enabling partners who will help us to shape and grow our company", said Martin Gosling, CSO of Enterprise Therapeutics.
Liz Roper, Partner at Epidarex Capital said "Epidarex is delighted to be able to expand on its lead investment and to welcome Imperial Innovations as a partner in Enterprise Therapeutics’ current financing round. The drug discovery programs initiated by Enterprise are progressing at speed and these funds will ensure key milestones are achieved more rapidly."
Rob Woodman, Director of Healthcare Ventures at Imperial Innovations, commented: "Respiratory disease remains an area of high unmet medical need with patient numbers increasing year on year. Enterprise Therapeutics' strategy has the potential to deliver differentiated therapies to bring benefit to patients across a variety of indications".