An Oxford-based biotech company, Enara Bio, secures significant investment from Pfizer and the Francis Crick Institute, indicating strong faith in its groundbreaking cancer research.
- Founded in 2016, Enara Bio has attracted $32.5 million in a Series B funding round, with participation from Pfizer Ventures and M Ventures.
- The company is pioneering the use of ‘Dark Antigens’ through its EDAPT platform to target untapped cancer treatment avenues.
- Enara Bio has previously collaborated with Boehringer Ingelheim and boasts notable fiscal improvements in recent years.
- CEO Kevin Pojasek highlights the potential of their science and their ongoing pursuit of innovative cancer immunotherapies.
Enara Bio, an Oxford-based biotechnology start-up, has received substantial backing from Pfizer and the Francis Crick Institute, totalling $32.5 million (£24.7 million) in Series B funding. This investment marks a considerable vote of confidence in Enara Bio’s innovative approach to cancer treatment, specifically through its use of ‘Dark Antigens’.
Established in 2016, Enara Bio is at the forefront of cancer therapy development. Its latest funding round, spearheaded by Pfizer Ventures along with M Ventures, illustrates the growing interest in its pioneering EDAPT platform. This technology aims to discover novel cancer antigens from ‘genomic dark matter’, an ambition that stands to revolutionise cancer immunotherapy.
Rana Al-Hallaq, Ph.D., a partner at Pfizer Ventures, expressed optimism about the potential of ‘Dark Antigens’, asserting that these may significantly broaden the efficacy of immunotherapy for patients with solid tumours, a demographic that has historically seen limited benefits from existing treatments.
In addition to support from new investors, Enara Bio’s financial roster includes the Francis Crick Institute and steadfast investors such as RA Capital, Samsara BioCapital, and SV Health Investors. This follows a previous $17.5 million Series A funding round in 2019, underscoring steady confidence in Enara Bio’s strategic vision.
The company’s collaborations extend to licensing deals with Boehringer Ingelheim, highlighting a partnership initiated three years ago and recently renewed. Enara Bio’s CEO, Kevin Pojasek, underscores that the recent capital influx not only acknowledges the calibre of their research but also energises their robust pipeline of immunotherapy developments.
Financially, Enara Bio has demonstrated remarkable growth, shifting from a £14 million loss to generating £1 million in pre-tax profits in 2023, while its turnover more than tripled to £17.4 million. The significant research and development expenditure of £8.6 million last year has also afforded the company valuable tax benefits.
Enara Bio continues to make strides in the biotech industry, buoyed by significant investment and a strong focus on innovation.
