Enterprise Therapeutics raises £29 million ($41 million USD) funding

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Brighton, UK – 12 April 2018: Enterprise Therapeutics Ltd (Enterprise), a biopharmaceutical company dedicated to the research and development of novel therapies for the treatment of respiratory diseases, today announced that it has closed an oversubscribed £29 million ($41 million USD) Series B round co-led by Versant Ventures and Novartis Venture Fund. The
syndicate also included new investor Forbion, founding investor Epidarex Capital and existing investor IP Group.

The investment will fund the Company’s drug discovery pipeline of muco-regulatory therapies into clinical development, enabling new treatment options for cystic fibrosis, chronic obstructive pulmonary disease and severe asthma.

Enterprise Therapeutics is developing muco-regulatory therapies to treat patients with respiratory diseases of high unmet medical need, where mucus obstruction reduces lung function, leading to difficulty in breathing and recurrent lung infections. These novel therapies target the ion channels TMEM16A and ENaC, to increase the hydration and clearance of mucus. Enterprise Therapeutics has also identified novel targets and compounds that reduce mucus production, an approach that complements mucus hydration therapies.

Commenting on the fundraising, Dr John Ford, CEO, Enterprise Therapeutics, said: “Attracting this syndicate of leading life science investors is a reflection of what the Company has achieved to date and the strength of our pipeline. At Enterprise, we believe new therapies that target the underlying mechanisms of mucus congestion are essential to reduce the frequency of
lung infections and improve patient quality of life.”

Dr Alex Mayweg, Partner, Versant Ventures, commented: “We are very encouraged by progress the Enterprise team made in generating candidates for highly sought-after but challenging targets. This financing should enable introduction of novel therapeutics for patients with cystic fibrosis and other respiratory diseases.”

Dr David Morris, Venture Partner, Novartis Venture Fund, commented: “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. We believe this additional round of funding puts the Company in a strong position as it continues to progress towards the clinic.”

“Forbion focuses on supporting novel approaches that have the potential to truly impact the future of medicine” commented Dr Geert-Jan Mulder, Managing Partner, Forbion. “As Enterprise Therapeutics has both a highly innovative R&D pipeline and an experienced leadership team, the Company in our view is well positioned to become a key player in the field of novel respiratory medicine.”

Enterprise Therapeutics receives funding from Cystic Fibrosis Trust

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Award will support research into the use of bronchosphere technology as innovative treatment

Brighton, UK – 05 April, 2017: Enterprise Therapeutics Ltd, a drug discovery company dedicated to the research and development of novel therapies for the treatment of respiratory diseases, has won funding from the Cystic Fibrosis Trust to identify new drug mechanisms for the treatment of cystic fibrosis (CF).

The funding will be used to support pioneering research, leveraging Enterprise Therapeutics’ bronchosphere technology platform. Bronchospheres are a miniaturised model of the human airway. This innovative model can be used to support high-throughput drug and target discovery and will be used to facilitate the development of new classes of therapeutics for the treatment of cystic fibrosis.

Over 10,500 people are currently living with CF in the UK. This genetic condition causes the lungs to become clogged with mucus, making it difficult to breathe. People living with CF have a significantly reduced life-expectancy; median age of death is just 28 years. Quality of life is also extremely poor due to high treatment burden and susceptibility to chronic lung infections that result in frequent hospitalisations.

Commenting on this new partnership, Dr John Ford, CEO, Enterprise Therapeutics, said: “We are delighted to have the opportunity to collaborate with the Cystic Fibrosis Trust on this important project. The Trust’s funding will enable critical research to be undertaken to drive a greater scientific understanding of CF and support development of innovative treatments for this challenging genetic disease.”

Dr Janet Allen, Director of Strategic Innovation at the Cystic Fibrosis Trust commented: “This exciting approach will bring hope to the many people living with CF in the UK. We look forward to working with Enterprise Therapeutics and believe that their technology will bring us a step closer to identifying effective new medicines that may improve the lives of people with CF and those who care for them.”

Enterprise Therapeutics Announces £4 million ($5 million USD) Fundraising

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Brighton, UK – 10th November, 2016: Enterprise Therapeutics Ltd, a drug discovery company dedicated to the research and development of novel therapies for the treatment of respiratory diseases, today announced that it has closed a £4 million ($5 million USD) financing. The funding was led by existing investors Epidarex Capital and Imperial Innovations and will be used to accelerate the Company’s three drug discovery projects towards drug candidate selection.

Enterprise Therapeutics is developing novel muco-regulatory therapies for patients suffering with cystic fibrosis (CF), Chronic Obstructive Pulmonary Disease (COPD) and severe asthma. To achieve this, the Company is targeting mechanisms that increase the clearance of mucus or reduce levels of mucus production in order to alleviate the symptoms and complications
associated with respiratory disease.

Commenting on the fundraising, Dr John Ford, CEO, Enterprise Therapeutics, said: “Respiratory disease remains an area of high unmet medical need especially in the area of CF where existing therapies do not treat all patients. This additional funding will allow us to advance our research projects and move closer towards our goal of evaluating the efficacy of muco-regulatory drugs in patients. I look forward to working with the team and our investors in this important next
stage of growth.”

Dr Liz Roper, Investor Director, Epidarex, commented: “Based on excellent achievement of project milestones across all three discovery projects at Enterprise Therapeutics we are providing this additional investment to put the company in a strong position as it continues to progress towards the clinic. We are committed to the novel muco-regulatory approach that
Enterprise is taking to combat respiratory diseases.”

Dr Rob Woodman, Investor Director, Imperial Innovations commented: “Enterprise Therapeutics has made significant progress in the 18 months since Imperial Innovations first invested. We believe that the Company has the potential to become a leading player in respiratory disease.”

Enterprise Therapeutics appoints Dr John Ford as CEO

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Brighton, UK – October 17, 2016 – Enterprise Therapeutics Ltd, a drug discovery company dedicated to the research and development of novel therapies for the treatment of respiratory diseases, today announced that it has appointed Dr John Ford as CEO with immediate effect.

Enterprise Therapeutics is developing novel muco-regulatory therapies for patients suffering with Chronic Obstructive Pulmonary Disease (COPD), Cystic Fibrosis (CF), and severe asthma. To achieve this the Company is targeting mechanisms that increase the clearance of mucus or reduces levels of mucus production in order to alleviate the symptoms and complications associated with respiratory disease.

Dr Ford is a successful biotechnology entrepreneur who has co-founded Xention, Ario Pharma and Metrion Biosciences. Recently, he was a member of the Executive Team at Dezima that developed TA-8995 for dyslipidaemia and later sold the company to Amgen in 2015 for up to $1.55b. He obtained his BSc and PhD at the University of Leeds, where he worked on the structure and function of TRP channels. Dr Ford has over 18 years’ ion channel research, drug discovery and drug development experience.

Commenting on the appointment, Dr Peter Finan, Chairman Enterprise Therapeutics, said: “John’s experience in ion channels, drug development, and biotech fundraising position him uniquely to lead Enterprise Therapeutics moving forward. His expertise will complement the existing team and we are thrilled to have him on board.”

Dr John Ford commented: “I am delighted to have joined Enterprise Therapeutics at an exciting time for the company. Respiratory disease remains an area of high unmet medical especially in the area of Cystic Fibrosis where existing treatments do not treat all patients. Our mission is to discover new disease modifying therapies that target the underlying mechanisms of mucus congestion, which will reduce the frequency of lung infections and improve patient quality of life. I look forward to working with the team and our investors in this important next stage of growth.”.

About Enterprise Therapeutics

Enterprise Therapeutics is an early stage drug discovery company formed in May 2014. Its founders have significant expertise in drug discovery, respiratory biology and ion channel pharmacology. The company benefits from a close working relationship with the School of Life Sciences at the University of Sussex. For further information please contact Professor Martin Gosling (martin@enterprisetherapeutics.com).

About Epidarex Capital

Epidarex Capital invests in early-stage, high growth life science and health technology companies in under-ventured markets within the UK and US. Epidarex was created to meet the need for more sector-specific risk capital for young companies, including spin-outs from leading research universities. The fund’s international management team has a track record of successfully partnering with top scientists and entrepreneurs to develop highly innovative products for the global healthcare market. For further information please visit www.epidarex.com

About Imperial Innovations

Innovations supports scientists and entrepreneurs in the commercialisation of their ideas through the licensing of intellectual property, by leading the formation of new companies, providing facilities in the early stages, providing investment and encouraging co-investment to accelerate development, providing operational expertise and recruiting high-calibre management teams. It also runs an incubator in London that is the initial home for many of its technology spin-outs. For further information please visit www.imperialinnovations.co.uk

About Cystic Fibrosis (CF)

CF is the most common lethal genetic disease amongst Caucasians with an estimated global patient population of 100,000. The average life expectancy, although improving, is approximately 40 years.

About Chronic Obstructive Pulmonary Disease (COPD)

COPD is a chronic disease characterised by a progressive and irreversible decrease in lung function. Globally, COPD is reported to affect over 300 million people and in 2012 was the world’s third highest killer.

About Severe Asthma

Patients with severe asthma are either refractory or poorly managed by current therapies (including bronchodilators and steroids). Severe asthma patients comprise around 5% of the estimated 300 million asthma sufferers, globally.

New drug discovery company announces additional funding to tackle chronic respiratory disease

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Brighton, Sussex, May 20th 2015 – ENTERPRISE THERAPEUTICS Ltd, a drug discovery company focused on new therapeutics for respiratory diseases, today announced that it 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. The proceeds will consolidate and accelerate the drug discovery and target identification programs initiated by Enterprise Therapeutics earlier in 2015. The company is based at the Sussex Innovation Centre, University of Sussex.

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, 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”.

Liz Roper, Partner at Epidarex Capital stated “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 Healthcare Ventures at Imperial Innovations commented “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”.

About Enterprise Therapeutics

Enterprise Therapeutics is an early stage drug discovery company formed in May 2014. Its founders have significant expertise in drug discovery, respiratory biology and ion channel pharmacology. The company benefits from a close working relationship with the School of Life Sciences at the University of Sussex. For further information please contact Professor Martin Gosling (martin@enterprisetherapeutics.com).

About Epidarex Capital

Epidarex Capital invests in early-stage, high growth life science and health technology companies in under-ventured markets within the UK and US. Epidarex was created to meet the need for more sector-specific risk capital for young companies, including spin-outs from leading research universities. The fund’s international management team has a track record of successfully partnering with top scientists and entrepreneurs to develop highly innovative products for the global healthcare market. For further information please visit www.epidarex.com

About Imperial Innovations

Innovations supports scientists and entrepreneurs in the commercialisation of their ideas through the licensing of intellectual property, by leading the formation of new companies, providing facilities in the early stages, providing investment and encouraging co-investment to accelerate development, providing operational expertise and recruiting high-calibre management teams. It also runs an incubator in London that is the initial home for many of its technology spin-outs. For further information please visit www.imperialinnovations.co.uk

About Cystic Fibrosis (CF)

CF is the most common lethal genetic disease amongst Caucasians with an estimated global patient population of 100,000. The average life expectancy, although improving, is approximately 40 years.

About Chronic Obstructive Pulmonary Disease (COPD)

COPD is a chronic disease characterised by a progressive and irreversible decrease in lung function. Globally, COPD is reported to affect over 300 million people and in 2012 was the world’s third highest killer.

About Severe Asthma

Patients with severe asthma are either refractory or poorly managed by current therapies (including bronchodilators and steroids). Severe asthma patients comprise around 5% of the estimated 300 million asthma sufferers, globally.

World class drug discovery team launches new company to tackle chronic respiratory disease

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Brighton, Sussex, February 12th 2015 – ENTERPRISE THERAPEUTICS Ltd, a drug discovery company focussed on novel therapeutics for respiratory diseases, today announced that it has secured £1.6m ($2.4m) in initial Series-A financing from Epidarex Capital. The proceeds will fund, in parallel, low molecular weight drug discovery and new target identification programs. The company will be based at the University of Sussex.

Respiratory diseases including cystic fibrosis, chronic obstructive pulmonary disease (COPD) and severe asthma represent a major unmet medical need and a significant health burden in both the developed and developing world. Current standard of care medications treat the symptoms of these debilitating diseases by dilating the airways and/or dampening inflammation. Enterprise Therapeutics’ focus is the discovery of novel disease modifying medications that target key drivers of disease pathology and progression. These include targeting the underlying mechanisms of mucus congestion. Enterprise’s lead indication will be cystic fibrosis.

Martin Gosling, CSO of Enterprise Therapeutics commented, “We are delighted that Epidarex Capital has recognised the potential of Enterprise Therapeutics’ drug discovery approach and capabilities. We look forward to working together to discover and develop first in class therapies with the potential to impact the millions of patients with respiratory diseases”.

Liz Roper, Partner at Epidarex Capital stated “Epidarex is excited to have led Enterprise Therapeutics’ initial financing, an investment aligned with our strategy of facilitating the growth and development of high potential, early stage life science companies in the UK and the US. We believe that the significant drug discovery experience and expertise of the company’s founders combined with the novel approach Enterprise is pursuing should deliver differentiated and badly needed therapies.”

About Enterprise Therapeutics

Enterprise Therapeutics is an early stage drug discovery company formed in May 2014. Its founders have significant expertise in drug discovery, respiratory biology and ion channel pharmacology. The company benefits from a close working relationship with the School of Life Sciences at the University of Sussex. For further information please contact Professor Martin Gosling (martin@enterprisetherapeutics.com).

About Epidarex Capital

Epidarex Capital invests in early-stage, high growth life science and health technology companies in under-ventured markets within the UK and US. Epidarex was created to meet the need for more sector-specific risk capital for young companies, including spin-outs from leading research universities. The fund’s international management team has a track record of successfully partnering with top scientists and entrepreneurs to develop highly innovative products for the global healthcare market. For further information please visit www.epidarex.com

About Cystic Fibrosis (CF)

CF is the most common lethal genetic disease amongst Caucasians with an estimated global patient population of 100,000. The average life expectancy, although improving, is approximately 40 years.

About Chronic Obstructive Pulmonary Disease (COPD)

COPD is a chronic disease characterised by a progressive and irreversible decrease in lung function. Globally, COPD is reported to affect over 300 million people and in 2012 was the world’s third highest killer. The estimated global economic cost of COPD is over $2 trillion.

About Severe Asthma

Patients with severe asthma are either refractory or poorly managed by current therapies (including bronchodilators and steroids). Severe asthma patients comprise around 5% of the estimated 300 million asthma sufferers, globally.