Enanta Pharmaceuticals Raises $20 Million in New Financing and Initiates Phase 1 Clinical Trial on EP-013420, a First-In-Class Bridged Bicyclic Ketolide Antibiotic for Community Respiratory Tract Infections

Aug 31, 2004, 01:00 ET from Enanta Pharmaceuticals

    WATERTOWN, Mass., Aug. 31 /PRNewswire/ -- Enanta Pharmaceuticals today
 announced that it has raised $20 million in new financing.  The Company has
 also initiated a Phase 1 clinical trial in the United States for its community
 antibiotic candidate, EP-013420.
     Participants in the financing included Shionogi & Co. LTD, as well as
 returning investors Techno Venture Management, Oxford Bioscience Partners,
 BioVentures Investors and Global Biomedical Partners.  The funding will be
 used to advance EP-013420 in the clinic and to progress the company's
 discovery-stage anti-infective programs.
     First in its class, EP-013420 is a Bridged Bicyclic Ketolide (BBK) that
 was designed by Enanta to have optimal pharmacokinetics and to provide broad
 treatment against respiratory pathogens, including several multi-drug
 resistant strains for which traditional macrolides, penicillins, and
 fluoroquinolones are no longer effective.  In this trial, EP-013420 will be
 evaluated for its pharmacokinetics, safety and tolerability in healthy
 volunteers.  In July 2004, Enanta exclusively licensed the Asia territory
 rights for EP-013420 to Shionogi & Co., LTD., of Osaka, Japan.
     "This clinical trial marks an important milestone for Enanta as we have
 translated our chemistry and drug discovery expertise into a very important
 new clinical-stage product with blockbuster potential to satisfy a growing
 unmet medical need in the community setting," said Jay Luly, Ph.D., President
 and CEO.  "The ambitious pre-clinical product-profile we have achieved with
 EP-013420 will provide us the opportunity to pursue multiple indications and
 position this drug candidate as best-in-class."
     "There is a tremendous need for next generation antibiotics to overcome
 the growing threat of bacterial resistance in the treatment of community
 respiratory tract infections," stated infectious disease specialist Robert C.
 Moellering, Jr., M.D., Herrman Blumgart Professor of Medicine at Harvard
 Medical School and Beth Israel Deaconess Medical Center and Enanta Clinical
     "Enanta's novel BBK antibiotics offer the promise of broader coverage
 against many of these resistant strains with the potential of improved safety
 and efficacy, and more convenient dosing," said Yat Sun Or, Ph.D., Senior Vice
 President, Research and Development.
     About EP-013420
     Enanta is developing EP-013420 for the treatment of community respiratory
 tract infections with potential indications for community acquired pneumonia,
 acute exacerbation of chronic bronchitis, acute sinusitis,
 tonsilitis/pharyngitis, and otitis media.  EP-013420 is a first-in-class
 Bridged Bicyclic Ketolide antibiotic that is the result of Enanta's innovative
 medicinal chemistry approach to creating novel and proprietary chemical
 structures.  Preclinical studies have shown an excellent pharmacokinetic
 profile for EP-013420 and an improved activity profile relative to currently
 marketed macrolides and ketolides, including activity against many strains of
 resistant S. pneumoniae.  This is the most commonly implicated bacteria in
 respiratory infections, responsible for 45% of the cases of community acquired
 pneumonia (CAP) and 34% of acute sinusitis.  Nearly one-third of S. pneumoniae
 infections in the US are resistant to penicillin and 31% are resistant to the
 macrolide antibiotic erythromycin.  S. pneumoniae resistance is more common in
 Asia, where 53% of S. pneumoniae infections are penicillin resistant and 80%
 are erythromycin resistant.
     The global respiratory antibiotic market was approximately $12 billion in
 2002.  Three major antibiotic classes dominate the respiratory antibiotic
 market: macrolides, beta-lactams, and quinolones.  Of these classes, several
 respiratory antibiotics generate annual sales well in excess of $1 billion.
 Worldwide sales of macrolide drugs amounted to approximately $5.64 billion in
     About Enanta
     Enanta Pharmaceuticals is a research and development company that uses its
 novel chemistry approach and drug discovery capabilities to create best in
 class small molecule drugs in the anti-infective field.  The heart of Enanta
 is its commitment to innovative chemistry that surpasses traditional medicinal
 chemistry approaches.  The Company's successful integration of chemistry with
 biology has created a new class of macrolide and ketolide antibiotics that
 overcome bacterial resistance.  Additionally, Enanta has discovered antiviral
 agents targeted against the Hepatitis C virus (HCV).  Enanta is a privately
 held company with offices in Watertown, MA.  More information about the
 company can be found at http://www.enanta.com.
     For Investor Relations, please contact:
      Paul Mellett
      Senior Vice President and Chief Financial Officer
      (617) 607-0761
     For Public Relations, please contact MacDougall Biocommunications:
      Kari Lampka
      (508) 647-0209

SOURCE Enanta Pharmaceuticals