Forbion participates in £29M Series B Financing of Enterprise Therapeutics to Advance its Ion Channel Modulators for the treatment of Cystic-fibrosis, COPD and severe asthma
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Advancing Enterprise’s drug candidates through human proof-of-concept and safety studies
Forbion, one of the leading European life science venture capital firms, today announces that it participated together with new investors Versant Ventures and Novartis Venture Fund and existing investors Epidarex Capital and IP Group in an oversubscribed £29M investment round in the UK biotech company Enterprise Therapeutics. The investment will fund the Company’s drug discovery pipeline of muco-regulatory therapies into clinical development, enabling new treatment options for cystic fibrosis, chronic obstructive pulmonary disease (COPD) and severe asthma.
Enterprise Therapeutics 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 novel therapies target the ion channels TMEM16A and ENaC, to increase the hydration and clearance of mucus. Enterprise Therapeutics has also identified novel targets and compounds that reduce mucus production, an approach that complements mucus hydration therapies.
Forbion focuses on supporting novel approaches that have the potential to truly impact the future of medicine” commented Geert-Jan Mulder, Managing Partner, Forbion. “As Enterprise Therapeutics has both a highly innovative R&D pipeline and an experienced leadership team, the Company in our view is well positioned to become a key player in the field of respiratory medicine.
Commenting on the fundraising, Dr John Ford, CEO, Enterprise Therapeutics, 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. John Ford was previously an executive at Forbion’s portfolio companies Dezima Pharma, Ario and Xention.