PharmEnable raises $7.5 million to develop small molecule drugs
PharmEnable, a drug discovery company focused on chemical novelty, diversity, and complexity, announced it has closed a $7.5 million Pre-Series A investment round to develop the next generation of small molecule drugs for disease areas of high clinical need.
The funding round was led by MP Healthcare Venture Management (MPH), the venture arm of Mitsubishi Tanabe Pharma Group, with additional participation from existing investors including Cambridge Enterprise, the commercialization arm of the University of Cambridge, University of Cambridge Enterprise Fund VIII, managed by Parkwalk Advisors , Heyford Trust, o2h Ventures, Martlet Capital, Arrowfield Capital, Wren Capital and life sciences angel investors including Jonathan Milner.
The funds will be used to advance and expand PharmEnable’s portfolio of wholly owned and co-discovery projects across oncology and neurology targets, as well as support further R&D of the platform.
PharmEnable uses its proprietary platform to discover targeted therapies with the aim of replicating biologic specificity, but with the improved efficacy, absorption, and distribution properties made possible by specially designed oral small molecules, which are also easier to measure and manufacture. The company’s approach combines advanced medicinal chemistry with advanced AI technology, enabling it to unlock challenging biological targets by mapping unexplored chemical spaces.
This approach generates novel proprietary candidate drug molecules with the required 3-dimensional structural elements leading to increased selectivity and ultimately reduced friction levels. The goal is to develop highly effective therapies with fewer side effects to treat diseases of high clinical need.
PharmEnable has a wholly owned oncology program pipeline, as well as ongoing co-discovery projects with several pharmaceutical and biotechnology companies, including a partnership with Sosei Heptares to open up new drug candidates for neurological diseases. The wholly owned program focuses on addressing some of the key challenges in oncology such as tumor penetration and overcoming resistance mechanisms, through designing novel, complex small molecules with improved selectivity and carefully balanced properties.
PharmEnable CEO, Hannah Sore, said: “At PharmEnable, we believe that everyone deserves safe and effective treatment, and we are committed to applying the principles of chemical novelty, diversity, and 3 dimensions to design powerful new small molecule drugs. I am delighted that MP Healthcare has led our Pre-Series A to enable our mission to deliver life-changing drugs to patients who need them.”