An Oxford biotech firm, Enara Bio, is advancing groundbreaking cancer treatments.
- US pharmaceutical leader, Pfizer, alongside the Francis Crick Institute, invest in Enara Bio.
- Enara Bio’s EDAPT platform is pioneering in discovering cancer antigens from genomic dark matter.
- A recent $32.5 million funding round highlights the potential of Enara Bio’s cancer therapies.
- Enara Bio reports a significant financial turnaround with increased profits and novel partnerships.
An Oxford-based biotech company, Enara Bio, is at the forefront of developing cutting-edge cancer treatments, having recently secured substantial backing from Pfizer, a prominent US pharmaceutical company, and the research-focused Francis Crick Institute.
This collaboration is part of a $32.5 million Series B funding round, a significant step for Enara Bio, which was founded in 2016. The funding was spearheaded by Pfizer Ventures’ venture capital division, with participation from M Ventures. The strategic partnership signifies confidence in Enara Bio’s innovative approach to cancer treatment, particularly through their development of an advanced antigen discovery platform known as EDAPT.
The urgent quest for new cancer treatments is underscored by the over three million cancer cases reported annually in the United Kingdom and the approximately 167,000 associated deaths, as estimated by Macmillan Cancer Support. Enara Bio’s EDAPT platform is pivotal in this endeavor, utilizing genomic dark matter to discover novel cancer antigens.
The platform’s potential to revolutionize cancer immunotherapy was emphasized by Rana Al-Hallaq, Ph.D., a partner at Pfizer Ventures, who remarked, “Dark Antigens may unlock the potential of immunotherapy for many additional patients with solid tumors, and we are pleased to support Enara’s development of this cutting-edge platform to discover and validate these previously untapped targets.”
Enara Bio had previously raised $17.5 million in its Series A funding round in 2019, demonstrating steady growth and mounting interest in its scientific advancements. With a focus on developing immunotherapies for a broad patient population, the company licenses its EDAPT platform to external firms, including the notable German pharmaceutical firm Boehringer Ingelheim, which extended their partnership in 2023.
Enara Bio has also reported remarkable financial improvements, achieving £1 million in pre-tax profits in a notable reversal from a previous £14 million loss. This financial upswing is attributed to a significant increase in turnover, reaching £17.4 million, alongside substantial tax benefits from their £8.6 million research and development expenditure.
Kevin Pojasek, CEO of Enara Bio, highlighted the significance of this fundraise, stating that it reflects the quality of their scientific efforts and highlights the groundbreaking potential of Dark Antigens within their pipeline of first-in-class immunotherapies. Pojasek, with extensive experience in the biotech sphere, has been instrumental in steering Enara Bio toward these achievements.
The strategic investments and scientific breakthroughs of Enara Bio represent significant strides towards innovative cancer treatment solutions.
