The Penningtons Manches life sciences team has advised Enterprise Therapeutics Ltd, a Brighton-based, early stage drug discovery company, on its launch to discover and develop new ‘first in class’ therapeutics for respiratory diseases.
Formed in May 2014, Enterprise Therapeutics has secured £1.6m ($2.4m) in initial Series-A financing from Epidarex Capital to fund low molecular weight drug discovery and new target identification programs.
The company is based at the University of Sussex where it has a close working relationship with the School of Life Sciences. Its founders have significant expertise in drug discovery, respiratory biology and ion channel pharmacology.
Penningtons Manches corporate partner, Patrick Baddeley, advised on the corporate aspects of the transaction including the investment agreement, articles of association and other ancillary documents while commercial and IP partner, Kerry Sharp, reviewed the Research Collaboration Agreement with the University of Sussex, to whom the initial R & D work is being outsourced.
Respiratory diseases such as 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, one of the most common lethal genetic diseases amongst Caucasians with an estimated global patient population of 100,000. The average life expectancy, although improving, is approximately 40 years.
Further information on Enterprise Therapeutics can be found here.