UK-based Enterprise Therapeutics Ltd, a drug discovery company focused on respiratory diseases, has received $2.4 million in Series A funding. The investor was Epidarex Capital.
Brighton, Sussex, February 16th 2015 – ENTERPRISE THERAPEUTICS Ltd, a drug discovery company focused on new therapeutics for respiratory diseases, 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”.
About Enterprise Therapeutics
Enterprise Therapeutics is an early stage drug discovery company formed in May 2014. Its founders have significant expertise in drug discovery, respiratory biology and ion channel pharmacology. The company benefits from a close working relationship with the School of Life Sciences at the University of Sussex.
About Epidarex Capital
Epidarex Capital invests in early-stage, high growth life science and health technology companies in under-ventured markets within the UK and US. Epidarex was created to meet the need for more sector-specific risk capital for young companies, including spin-outs from leading research universities. The fund’s international management team has a track record of successfully partnering with top scientists and entrepreneurs to develop highly innovative products for the global healthcare market. For further information please visit www.epidarex.com
About Cystic Fibrosis (CF)
CF is the most common lethal genetic disease amongst Caucasians with an estimated global patient population of 100,000. The average life expectancy, although improving, is approximately 40 years.
About Chronic Obstructive Pulmonary Disease (COPD)
COPD is a chronic disease characterised by a progressive and irreversible decrease in lung function. Globally, COPD is reported to affect over 300 million people and in 2012 was the world’s third highest killer.
About Severe Asthma
Patients with severe asthma are either refractory or poorly managed by current therapies (including bronchodilators and steroids). Severe asthma patients comprise around 5% of the estimated 300 million asthma sufferers, globally.