Enterprise Therapeutics Ltd, a drug discovery company focused on new therapeutics for respiratory diseases, has secured an additional £2.4m ($3.6m) in Series-A financing. The funds are comprised of £2m by new investor, Imperial Innovations and £0.4m increase by founding investor Epidarex, bringing the total Series-A round to £4m.
Patrick Baddeley, a Penningtons Manches corporate partner, acted for Enterprise Therapeutics, a company formed in May 2014 and based at the Sussex Innovation Centre, University of Sussex. Patrick specialises in the life sciences industry and sits on the Advisory Board of OBN, the UK’s leading membership organisation which supports the UK’s emerging life science companies.
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.
The additional funding will consolidate and accelerate the drug discovery and target identification programs initiated by the company earlier in 2015.
Martin Gosling, CSO of Enterprise Therapeutics commented: “We are extremely excited to have secured additional funding from experienced and enabling partners who will help us to shape and grow our company and were glad of Patrick’s invaluable advice and support throughout the process”.