£26m for Cystic Fibrosis Drug Trial
Enterprise Therapeutics Ltd. has raised £26m for the Phase IIa trial of ETD001, a novel cystic fibrosis treatment, with investment led by Panakes Partners and participation from existing investors.
With funding led by Panakes Partners and involvement from current investors, Enterprise Therapeutics Ltd. has received £26m (~€30.5m) for the Phase IIa study of ETD001, a new therapy for cystic fibrosis. ETD001 is a unique low molecular weight compound designed to target the ENaC ion channel, which plays a key role in airway hydration and mucus clearance. It promises to be a long-acting treatment that could significantly improve lung function in cystic fibrosis patients, particularly those who are either not eligible for or not receiving CFTR modulators.
The round was spearheaded by new investor Panakes Partners and saw participation from all existing backers, including Versant Ventures, Novartis Venture Fund, Forbion, Epidarex Capital, and IP Group. Dr. Rob Woodman of Panakes has joined the company’s Board of Directors. Based in Brighton, UK, Enterprise is focused on developing innovative treatments for respiratory diseases and aims to improve lung function and reduce morbidity in conditions like cystic fibrosis and chronic obstructive pulmonary disease. The recent investment will also support Enterprise’s expansion into Italy, where it plans to add clinical investigator sites and advance other preclinical programmes targeting mucus congestion.
