Brighton, UK-based Enterprise Therapeutics has raised £29 million to help it advance its experimental therapies for respiratory diseases.
The Series B round was co-led by Versant Ventures and Novartis Venture Fund, with the syndicate also including new investor Forbion, founding investor Epidarex Capital and existing investor IP Group.
Enterprise is working on muco-regulatory therapies addressing conditions where mucus obstruction reduces lung function, leading to difficulty in breathing and recurrent lung infections.
The therapies target the ion channels TMEM16A and ENaC, to increase the hydration and clearance of mucus.
The company said the cash will help to bring its drug discovery pipeline into clinical development, progressing potential new treatments for cystic fibrosis, chronic obstructive pulmonary disease and severe asthma.
“Our focus is on finding solutions for unmet needs and clinical impact, an area where Enterprise Therapeutics is making excellent progress for respiratory disease patients,” said Dr David Morris, Venture Partner, Novartis Venture Fund.
“We believe this additional round of funding puts the company in a strong position as it continues to progress towards the clinic.”