VC firms back £29m series-B for Enterprise Therapeutics

New investors included healthcare-focused VC firms Forbion, Versant Ventures and Novartis Venture Fund. Existing investors Epidarex Capital and IP Group also took part. Forbion drew capital for the investment from its €200m vehicle, Forbion Capital Fund III.

The fresh capital will be used to progress the company's muco-regulatory therapies into clinical development.

Forbion's Geert-Jan Mulder, Versant's Alexander Mayweg and Novartis partner David Morris have all joined the company's board.

Previous funding
Epidarex and Imperial Innovations provided the company with £4m in seed funding in 2015, and invested a further £4m in the company's series-A in November 2016.

The Cystic Fibrosis Trust also awarded funding to the company in April 2017.

Company
Founded in 2014 and headquartered in Falmer, Enterprise Therapeutics is a biopharmaceutical company dedicated to the research and development of novel therapies for the treatment of respiratory diseases. Its therapies target the underlying mechanisms of mucus congestion to increase hydration and the clearance of mucus in cystic fibrosis, chronic obstructive pulmonary disease and severe asthma patients.

The company generated a loss of £2.3m and employed five people in 2017, according to publicly available documents.

People
Forbion – Geert-Jan Mulder (managing partner).
Versant Ventures – Alexander Mayweg (partner).
Novartis Venture Fund – David Morris (partner).
Enterprise Therapeutics – John Ford (CEO).

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• Topics
• Early-stage
• UK / Ireland
• Healthcare
• Venture
• United Kingdom