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Home Industry News PharmEnable Secured £6 million for Oncology and Neurology Initiatives

PharmEnable Secured £6 million for Oncology and Neurology Initiatives

24th May 2023

Cambridge-based pharmaceutical company PharmEnable has secured £6 million in a round of fundraising spearheaded by Mitsubishi Tanabe Pharma Group’s venture capital arm, MP Healthcare.

Arrowfield Capital, Martlet Capital, Wren Capital, Heyford Trust, the University of Cambridge Enterprise Fund VIII, o2h Ventures and Jonathan Miller also played a part in raising the finance.

The business has created a drug discovery platform that is AI-driven and aims to build small molecule medications that address difficult biological targets using components already seen in nature.

Cash raised in the first round will be invested into PharmEnable’s oncology and neurology initiatives.

After this series of fundraising has been completed, current MP Healthcare President, Dr Jeffrey Moore, will move into the role of Board Director for PharmEnable. There will also be a changeover of CSO from PharmEnable co-founder Dr Christine Martin to Dr Keith Blundy.

Dr Jeffrey Moore explained that “MPH is dedicated to supporting next-generation products and technologies. PharmEnable’s robust technology platform was best positioned to effectively explore novel chemical space and deliver the next generation of small molecule therapeutics.”

Chief Executive Officer of PharmEnable, Dr Hannah Sore, expressed their commitment “to applying the principles chemical novelty, diversity and 3-dimensionality to design powerful new small molecule drugs.”

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