Enterprise Therapeutics Raises £29M To Advance Respiratory Assets
UK biopharma Enterprise Therapeutics raises £29M in a series B round co-led by Versant Ventures and Novartis Venture Fund to advance pipeline of novel respiratory disease treatments into clinical development.
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While Vertex appears to have the cystic fibrosis market covered with its CFTR modulators, Enterprise has been exploring another channel, TMEM16A, in the hope of developing compounds that could possibly be used by everybody with the lethal genetic disease.
Private Company Edition: Investments by CIRM, the GHIT fund and the European Investment Bank back early-stage science and treatments for neglected diseases. Also, Versant Ventures raises $700m in two funds. In VC deals, Akero raised $70m, Impel NeuroPharma brought in $67.5m.
Pharma and biotech companies raised $4.6bn in the first quarter, exceeding the 2017 quarterly average by $1.4bn. But while the money invested soared, the number of companies funded sank. In public financings, MorphoSys commences US IPO and Mylan sells $1.5bn in notes.