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PharmEnable, a pioneer in the domain of drug discovery, has recently secured a significant investment of $7.5M in its Pre-Series A funding round organized by MP Healthcare, a venture branch of the esteemed Mitsubishi Tanabe Pharma Group.
The Investors
Esteemed investors who have backed this venture include Cambridge Enterprise, University of Cambridge Enterprise Fund VIII (managed by Parkwalk Advisors), Heyford Trust, o2h Ventures, Martlet Capital, Arrowfield Capital, and Wren Capital. Several seasoned angel investors with vast life sciences experience, including Jonathan Milner, have also contributed.
The Proprietary Platform
PharmEnable has made its mark in the industry with its proprietary drug discovery platform. The platform distinguishes itself with its focus on chemical novelty, diversity, and 3-dimensionality.
Utilization of Funds
The newly acquired funds will empower PharmEnable to broaden and propel its portfolio of wholly owned and co-discovery projects centering on challenging targets in cancer and neurology.
Expansion of Board of Directors
In tandem with this investment, PharmEnable's Board of Directors has welcomed new members. Dr Jeffrey Moore and Dr Keith Blundy, with their extensive experience in the biotech and pharmaceutical industry, will serve as valuable additions.
About PharmEnable
Based in Cambridge (UK), PharmEnable is expanding the horizons of small molecule drug development. The company prides itself on its unique approach that integrates advanced medicinal chemistry expertise and cutting-edge AI/computational methods.
Mission and Vision
PharmEnable is on a mission to deliver life-changing medicines. The company is working across a range of disease areas where drug specificity is a significant challenge, such as cancer and neurological disease. It has a pipeline of wholly owned pre-clinical projects, as well as ongoing co-discovery projects with several pharma and biotech companies, including Sosei Heptares.
The CEO's Take
Dr Hannah Sore, the CEO of PharmEnable, expressed her delight in MP Healthcare's leadership in the Pre-Series A funding round. She also welcomed Dr Jeffrey Moore and Dr Keith Blundy to the Board and looked forward to delivering novel therapeutics for the most challenging disease areas.
MP Healthcare's Perspective
Dr Jeffrey Moore, Board Director of PharmEnable on behalf of new investor MP Healthcare, highlighted the company's dedication to supporting next-generation products and technologies. After evaluating available companies and technologies, MP Healthcare concluded that PharmEnable's robust technology platform was best positioned to explore novel chemical space and deliver the next generation of small molecule therapeutics.
Conclusion
PharmEnable's recent funding round marks a significant milestone in its journey. With its robust technology platform and a team of experienced professionals, the company is poised to make a significant impact in the field of drug discovery.
The content above is based on information available at the time of writing. The author assumes no responsibility for any changes or discrepancies that may have occurred since the time of writing.