Enterin Inc. Raises $12.7 Million in Series A Financing
PHILADELPHIA, Pa., July 15, 2017 (Newswire.com) - Enterin Inc., a Philadelphia-based biotechnology company developing novel compounds to treat Parkinson's disease (PD), today announced the completion of a $12.7 million Series A financing round. The financing included new investors New Ventures III, as well as the participation of existing investors.
"We are absolutely thrilled to have the support of New Ventures III and our current investors, and view the caliber of our investors as validation of the potential of our platform technology to transform the course of PD and of other neurodegenerative diseases," said Michael Zasloff, M.D. Ph.D., Founder, Chairman and CEO of Enterin. He added, "The proceeds from this financing will enable us to complete the ongoing Phase 2 study in PD, further expand our understanding of the role of alpha-synuclein (aS) in the pathology of PD and begin to explore other indications. We are very excited about working with this outstanding group of investors, and bringing their deep expertise and guidance to bear as we progress our development."
Enterin also announced that Mark Finn, Founding Partner at New Ventures III, has joined the company's Board of Directors, representing the Series A investor class.
The announcement coincides with an ongoing Phase 1/2a clinical trial, sponsored by Enterin Inc., targeting the accumulation of aS in the enteric nervous system. The trial is examining the safety, tolerability, pharmacokinetics, and pharmacodynamics of ENT-01 to relieve constipation associated with Parkinson's disease. "While the study is focused on functional improvement of the enteric nervous system, we are closely monitoring central nervous system symptoms such as sleep, REM-behavior disorder, depression, fatigue and even motor symptoms," said Denise Barbut, M.D. F.R.C.P., Co-Founder, President and Chief Medical Officer of Enterin. She added, "The drug has the potential to slow the progression of PD and of other neurodegenerative disorders in which dysfunction of the enteric nervous system plays a part." Details of the RASMET study can be found on clinicaltrials.gov. ENT-01 is an oral drug that contains a synthetic derivative of squalamine.
Research recently published by Dr. Zasloff and collaborators demonstrated that squalamine both reduced the formation of toxic αS clumps and their toxicity in animal models of Parkinson's disease. Most recently, the founders and their colleagues demonstrated that aS is induced in response to viral gastrointestinal infections in children and that it brings in the immune system to help defend the nervous system and the gut. Links to the articles and to related press coverage can be found at the Enterin website.
About Enterin Inc.
Enterin Inc. is the first company in the world to develop a novel drug that repairs the dysfunctional gut-brain axis in patients with neurodegenerative disease. Enterin Inc. is pioneering the medical community's understanding of the link between infections, dysfunction of the enteric nervous system of the gut, and the early onset and chronic progression of neurodegenerative disease. The lead compound, ENT-01, displaces membrane-bound alpha-synuclein (αS) aggregates from nerve cells in the enteric nervous system and improves neural signaling between the gut and the brain in preclinical models of Parkinson's disease. In the gut, this results in improved mobility. Enterin Inc. is now progressing ENT-01 through clinical trials aimed at reversing the constipation of Parkinson's disease. For more information, please visit www.enterininc.com.
About New Ventures III
New Ventures is a leading healthcare venture capital firm focusing on innovating and disruptive areas in life sciences and healthcare. New Ventures invests globally throughout the healthcare industry, from new businesses to royalties on developed drugs. The New Ventures team is a group of co-founders, entrepreneurial operators, and investors with over 100 years of experience. The team has a history of collaborating on various projects together building companies and investing in life sciences, healthcare and agriculture. Our team understands the science and technology breakthroughs needed to achieve radical change that improves the human condition and simultaneously creates value for our investors. To learn more about New Ventures, please visit www.newventuresfunds.com.
Source: Enterin Inc.