BRIEF — Respiratory diseases firm's funding round raises £29 million

Enterprise Therapeutics, a UK-based biopharma company dedicated to the research and development of new respiratory diseases therapies, has closed an oversubscribed £29 million ($41 million) Series B round co-led by Versant Ventures and Novartis Venture Fund.

The syndicate also included new investor Forbion, founding investor Epidarex Capital and existing investor IP Group.

This investment will fund Enterprise’s drug discovery pipeline of muco-regulatory therapies into clinical development, enabling new treatment options for cystic fibrosis, chronic obstructive pulmonary disease and severe asthma.

Enterprise is developing muco-regulatory therapies to treat patients with respiratory diseases of high unmet medical need, where mucus obstruction reduces lung function, leading to difficulty in breathing and recurrent lung infections.

These therapies target the ion channels TMEM16A and ENaC, to increase the hydration and clearance of mucus. The company has also identified new targets and compounds that reduce mucus production, an approach that complements mucus hydration therapies.

John Ford, Enterprise’s chief executive, said: “Attracting this syndicate of leading life science investors is a reflection of what the company has achieved to date and the strength of our pipeline.

“At Enterprise, we believe new therapies that target the underlying mechanisms of mucus congestion are essential to reduce the frequency of lung infections and improve patient quality of life.”