Positive phase 2 trial for new cystic fibrosis drug

IP Group portfolio company, Enterprise Therapeutics, has announced positive results from its Phase 2 trial for ETD001, its lead candidate for the treatment of cystic fibrosis (CF). Enterprise is an on-balance-sheet direct investment in which IP Group was an early investor.

Successful trials typically increase the probability of reaching commercialisation, and hence valuation. It is relatively common at this stage for large pharma to show interest in investment or some form of partnership arrangement.

While the absolute number of people with CF is not vast (c. 100,000 globally), drug treatments are extremely expensive, so this is a potentially substantive commercial opportunity.

Enterprise now plans to advance ETD001 into longer‑duration Phase 2b clinical trials. It also intends to initiate clinical trials for sufferers already receiving CFTR modulator treatment, seeking improved efficacy if it is used in tandem.