A drug discovery company from Brighton has raised £4 million to fund research into treatments for respiratory diseases.
Enterprise Therapeutics, which is based at the Sussex Innovation Centre, on the Sussex University campus at Falmer, said: “The proceeds will consolidate and accelerate the drug discovery and target identification programs initiated by Enterprise Therapeutics earlier in 2015.”
The company aims to help people with cystic fibrosis, chronic obstructive pulmonary disease (COPD) and severe asthma.
The latest funds include £2 million from a new investor, Imperial Innovations, and an extra £400,000 from founding investor Epidarex Capital.
The company said: “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.”
Martin Gosling, from Enterprise Therapeutics, said: “We are extremely excited to have secured additional funding from experienced and enabling partners who will help us to shape and grow our company.”
Liz Roper, partner at Epidarex Capital, said: “Epidarex is delighted to be able to expand on its lead investment and to welcome Imperial Innovations as a partner in Enterprise Therapeutics’ current financing round.
“The drug discovery programs initiated by Enterprise are progressing at speed and these funds will ensure key milestones are achieved more rapidly.”
Rob Woodman, director of healthcare ventures at Imperial Innovations, said: “Respiratory disease remains an area of high unmet medical need with patient numbers increasing year on year.
“Enterprise Therapeutics’ strategy has the potential to deliver differentiated therapies to bring benefit to patients across a variety of indications.”
Enterprise Therapeutics is an early stage drug discovery company formed in May 2014.
It said that its founders had significant expertise in industrial drug discovery, respiratory biology and ion channel pharmacology.
And it added: “The company benefits from a close working relationship with the School of Life Sciences at the University of Sussex.”