Versant, Novartis Venture lead £29M round for Enterprise

Respiratory company Enterprise Therapeutics Ltd. (Falmer, U.K.) raised £29 million ($40.9 million) in a series B round led by Versant Ventures and Novartis Venture Fund. Also participating were new investor Forbion and existing investors Epidarex Capital and IP Group.

Enterprise is developing ion channel-targeting molecules designed to clear mucus that impairs lung function in patients with respiratory diseases including cystic fibrosis, chronic obstructive pulmonary disease (COPD) and asthma. CEO John Ford told BioCentury the company hopes to begin Phase I testing next year of two programs: an inhibitor of epithelial sodium channel (ENaC), and an activator of anoctamin 1 calcium activated chloride channel (TMEM16A; ANO1). ...