The Venture Codex

Led · Equity · Nov 2016

Enterprise Therapeutics focuses on discovery and development of therapies to improve outcomes for patients with chronic respiratory diseases by targeting underlying mechanisms of mucus congestion. Its lead programme, ETD001, is a novel low‑molecular‑weight, first‑in‑class candidate that targets the ENaC ion channel to increase airway hydration and mucus clearance and is designed for long‑acting, durable target engagement. The company plans a Phase 2a cross‑over clinical trial assessing FEV1 in people with cystic fibrosis who are ineligible for or not receiving CFTR modulators. Enterprise’s pipeline includes additional preclinical programmes addressing mucus congestion in cystic fibrosis, COPD and severe asthma. The company has established an Italian subsidiary to support R&D and will expand clinical investigator sites in Italy as part of its clinical activities. Funding from the raise is intended to enable progression of ETD001 to clinical proof of concept and advance other preclinical programmes. Enterprise Therapeutics develops muco-regulatory therapies aimed at treating respiratory diseases where mucus obstruction impairs lung function. Its drug discovery pipeline targets ion channels TMEM16A and ENaC to increase mucus hydration and clearance. The company has also identified novel targets and compounds that reduce mucus production, a complementary approach to hydration-focused therapies. Enterprise intends to advance its pipeline into clinical development using the newly raised funds. Its programs target high‑unmet‑need indications including cystic fibrosis, chronic obstructive pulmonary disease and severe asthma. Epidarex Capital has been involved with the company since an initial investment in 2014 and remains a backer. Enterprise Therapeutics is a drug discovery company focused on research and development of novel therapies for respiratory diseases. The company leverages its bronchosphere technology platform, a miniaturised model of the human airway. Bronchospheres are used to enable high-throughput drug and target discovery and to facilitate development of new classes of therapeutics for cystic fibrosis. Enterprise Therapeutics has won funding from the Cystic Fibrosis Trust to identify new drug mechanisms for CF and to support pioneering research. Company leadership commented that the Trust’s funding will enable critical research and drive greater scientific understanding of CF, and the Trust expressed optimism that the technology could bring hope to people living with CF. The company is based in Brighton, England. Enterprise Therapeutics focuses on discovering novel muco-regulatory therapies that either increase mucus clearance or reduce mucus production to alleviate symptoms and complications of respiratory diseases. Its programs target treatments for cystic fibrosis (CF), Chronic Obstructive Pulmonary Disease (COPD) and severe asthma. The company is advancing three discovery projects toward drug candidate selection. Management says the work aims to move into patient efficacy evaluation once candidates are selected. The announcement emphasizes recent milestone achievement across all three projects. The company is headquartered in Brighton, England. Enterprise Therapeutics is a Brighton, UK-based drug discovery company focused on developing novel disease-modifying therapeutics for respiratory diseases. It targets key drivers of pathology and progression in cystic fibrosis, chronic obstructive pulmonary disease (COPD) and severe asthma. The company was formed in May 2014 and is led by CSO Martin Gosling. Enterprise operates from the Sussex Innovation Centre at the University of Sussex. In early 2015 it initiated drug discovery and target-identification programs which it intends to consolidate and accelerate with new funding.

Led · Equity · Nov 2016

Resolver provides tools that automate complaint letter-writing, track grievance progress, and surface anonymised insights to businesses. The service is free to end users; Resolver monetises by selling anonymised communications data to companies to benchmark satisfaction. The company has amassed more than five million communications in its system and uses that dataset to identify customer issues and generate revenue. Resolver plans to apply AI and machine learning to that dataset to predict resolution chances and likely monetary outcomes from minimal user inputs, and to improve automated template emails. Management says the technology will suggest phrasing and terms that historically lead to better outcomes. The startup is targeting international expansion to Germany and the U.S. and is exploring licensing in smaller markets such as South Africa.

Participated · Equity · Oct 2016

Resolving Limited operates Resolver.co.uk, a free and independent UK website that helps consumers make complaints to brands, companies and organisations to obtain redress or refunds. On signing up users provide details of their issue and the platform advises them of their consumer rights, automatically prepares case submissions, stores communications and evidence, logs phone calls and reminds users to escalate to regulators or an Ombudsman. The service lists more than 30,000 companies and, at the time of the article, had 556,000 registered users across web and iOS/Android apps. By the end of 2016 the site expected to have helped resolve issues worth £100m+ and projected one million visitors a month by March 2017. The company intends to use the funds to develop artificial intelligence and machine-learning capabilities, double the team and grow traffic to more than 1.5m registered users within 12 months through investment in marketing, PR, content and social media. Launched by James Walker in September 2014 and based in Borough, south London, Resolving is engaged with consumer Ombudsmen, regulators and rights organisations and plans to expand internationally.

Led · Equity · Sep 2016

ThisWay Global is a Cambridge-based recruitment company developing a data analytics platform to better match quality candidates with job postings. The platform leverages novel sourcing methodology and a large-scale matching algorithm built on psychometric insights and machine learning. It can deliver matching profiles without personal identifiers such as names, sex, ethnicity, or university background to help corporates reduce undesired bias and improve diversity. The company intends to use the recently raised £1.6m to continue developing the platform and grow commercial traction. Led by founder and CEO Angela Hood, ThisWay was incubated at ideaSpace, Hauser Forum within the Institute for Manufacturing at the University of Cambridge. It is currently agreeing beta projects with several global companies to accelerate recruitment in certain fields and geographies and to address specific internal constraints.

Participated · Series A · Sep 2016

Artios Pharma is pioneering next-generation oncology medicines that exploit DNA damage response (DDR) mechanisms to selectively destroy hard-to-treat tumors. Its lead asset, the ATR inhibitor alnodesertib, has produced durable responses across eight solid tumor types, particularly in ATM-deficient cancers where no approved therapies currently exist. The company’s second clinical candidate, ART6043, is a DNA Polymerase θ inhibitor intended for BRCA-mutant, HER2-negative breast cancer patients eligible for PARP inhibitors, while additional pre-clinical programs include DDRi-antibody drug conjugates. Proceeds from the latest financing will broaden Phase 2 studies of alnodesertib in second-line pancreatic and third-line colorectal cancers—indications recently granted FDA Fast Track status—and will fund a randomized Phase 2 trial of ART6043. Management, led by newly appointed CEO Mike Andriole, believes these efforts will accelerate both assets toward registration. Following the $115 million Series D, the company is well-capitalized to advance its pipeline and transition toward commercial readiness.