Seed22 May 2023

PharmEnable raises £6m in a pre-Series A round led by MP Healthcare to advance its drug discovery platform.

MP Healthcare led the pre-Series A financing to help fund the expansion of the company drug discovery pipeline in oncology and neurology.

£6.0MSeed

PharmEnable is a biotechnology company based in Cambridge that develops targeted small molecule drugs using an proprietary platform combining medicinal chemistry and artificial intelligence. The firm focuses on challenging biological targets in oncology and neurology.

PharmEnable has secured £6m in a pre-Series A funding round led by MP Healthcare Venture Management. The investment will support the expansion of the company pipeline in oncology and neurology, alongside further platform research and development.

Additional backing for the round came from a syndicate of existing investors, including Cambridge Enterprise, Parkwalk Advisors, Heyford Trust, o2h Ventures, Martlet Capital, Arrowfield Capital, Wren Capital, and angel investor Jonathan Milner. Alongside the financing, Jeffrey Moore has joined the board representing MP Healthcare, and Keith Blundy has taken on a role as an investor director.

The Cambridge-based firm applies a proprietary drug discovery platform to map unexplored chemical space and design complex, three-dimensional small molecules. Its approach aims to replicate the specificity of biologics while retaining the scalability and absorption properties of oral treatments.

From the founder

"At PharmEnable, we believe that everyone deserves safe and effective treatments, and we are committed to applying the principles chemical novelty, diversity and 3-dimensionality to design powerful new small molecule drugs."

Hannah Sore

CEO at PharmEnable

Investor perspective

"MPH is dedicated to supporting next generation products and technologies to increase the options available to patients with significant unmet medical needs. We continue to explore novel modalities of treatment, including biotherapeutics, nucleic acid medicines and cell therapies. However, we continue to recognize the clear benefits that small molecules can offer. After an extensive review of available companies and technologies, we concluded that PharmEnable’s robust technology platform was best positioned to effectively explore novel chemical space and deliver the next generation of small molecule therapeutics."

Jeffrey Moore

President, MP Healthcare