Appointment brings significant commercial pharma experience as Enterprise Therapeutics’ two lead respiratory programmes are progressed towards the clinic
Brighton, UK: Enterprise Therapeutics Ltd (Enterprise), a biopharmaceutical company dedicated to the discovery and development of novel therapies to improve the lives of patients suffering with respiratory disease, today announced the appointment of Amit D. Munshi as Non-Executive Chairman of the Board of Directors. Amit’s appointment is significant for Enterprise, strengthening the ability of the leadership team as it transitions to a clinical stage development company, addressing areas of critical unmet needs in respiratory disease.
Mr. Munshi has more than 28 years of global biopharmaceutical industry experience in executive management, business development, product development and portfolio management, and has served on several private and public company boards. He is Director, President and Chief Executive Officer of Arena Pharmaceuticals, Inc., a Nasdaq-listed biopharmaceutical company which has a proprietary pipeline in mid-late stage clinical development. Previously, Mr. Munshi served as President and Chief Executive Officer of Epirus Biopharmaceuticals, Inc. and Percivia LLC. Prior to Epirus and Percivia, he was a co-founder and Chief Business Officer of Kythera Biopharmaceuticals, Inc., and held multiple leadership positions at Amgen, Inc. Mr. Munshi holds a B.S. in Economics and a B.A. in History from the University of California, Riverside, and an M.B.A. from the Peter F. Drucker School of Management at Claremont Graduate University.
Dr John Ford, CEO, Enterprise Therapeutics, said: “We are delighted that Amit has chosen to join as Chairman at this exciting time for the Company, as we prepare to take our two lead programmes into the clinic in the next 12 months. Amit brings a wealth of experience in product development, portfolio management and commercial strategy in both the US and EU that will be critical in driving the Company through the next phase of its development.”
Amit D. Munshi, Chairman, Enterprise Therapeutics, said: “Enterprise is led by an impressive management team with significant expertise and experience, and is backed by a high-profile syndicate of investors. I believe the Company and its therapeutic programmes have real potential to make a difference to the lives of respiratory disease patients.”
Enterprise Therapeutics is developing novel disease-modifying therapies which target underlying mechanisms of mucus congestion, enhancing the clearance of mucus from the airways, thereby restoring lung function and reducing morbidity and mortality in respiratory diseases. Enterprise’s programmes differentiate from the current standard of care as they aim to deliver disease-modifying, clinically effective candidates for a significant number of patients with respiratory diseases, including all CF patients, regardless of underlying mutations, and a large percentage of patients with COPD and severe asthma.
In April 2018 Enterprise 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.
About Enterprise Therapeutics
Enterprise Therapeutics is discovering and developing new therapies that target the underlying mechanisms of mucus congestion in the lungs, one of the main causes of difficulty in breathing and increased risk of infection in respiratory diseases such as cystic fibrosis and COPD. Reducing mucus congestion will reduce the frequency of lung infections and improve patient quality of life.
The Company’s novel muco-regulatory therapies target ion channels TMEM16A and ENaC to increase the hydration and clearance of mucus. Enterprise has also identified novel targets and compounds that reduce mucus production, an approach that complements mucus hydration therapies.
The Enterprise Therapeutics management team has significant expertise in drug discovery, drug development, respiratory biology and ion channel pharmacology. In April 2018 the Company closed an oversubscribed Series B funding round co-led by Versant Ventures and Novartis Venture Fund, with Forbion Capital Partners, Epidarex Capital and IP Group.
About Cystic Fibrosis (CF)
Cystic Fibrosis is the most common lethal genetic disease of Caucasians with more than 75,000 patients worldwide living with the disease. The average life expectancy of a CF patient, 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.
Chronic bronchitis, a form of COPD, is caused by an ongoing inflammation of the airways leading to the lungs. It is characterized by a cough, mucus production, shortness of breath, and wheezing. It is estimated that approximately 30-40% of COPD patients are diagnosed with chronic bronchitis.
About Severe Asthma
In 2014, close to 334 million individually were estimated to have been suffering from asthma, worldwide (Source: Roots Analysis Research Report: Novel Drugs and Smart Devices for Respiratory Disorders, 2018 – 2030).
Severe asthma is a specific type of asthma where symptoms do not get better when treated with current standard of care. Approximately 5-10% of asthmatics are thought to have severe asthma. Severe asthmatics needs specialist assessment and very different support and treatments.
###
Click here to download the full press release.