Enanta Pharmaceuticals Secures $12 Million Financing Under New Management -- First in Class Bridged Bicyclic Ketolide Antibiotic

to Enter Clinic in 2004 --



    WATERTOWN, Mass., Jan. 14 /PRNewswire/ -- Enanta Pharmaceuticals today
 announced new senior management and additional funding of $12 million to
 advance the company's lead macrolide antibiotic program into the clinic for
 the treatment of community acquired respiratory tract infections.
     "Enanta's chemistry and drug discovery teams have created a promising
 pipeline of first generation bridged bicyclic macrolide and ketolide
 antibiotics to overcome the growing threat of bacterial resistance in the
 treatment of respiratory tract and hospital acquired infections," stated Jay
 Luly, Ph.D., Enanta's new President and CEO.  "This is truly an exciting time
 to join Enanta as we are focused on bringing our first antibiotic candidate
 into clinical trials this year, a community antibiotic with a billion dollar
 market potential.  Beyond that, we have a deep pipeline of discovery and
 preclinical stage projects, representing numerous additional product
 opportunities for potential partnering."
     Dr. Luly joined Enanta in July, 2003, bringing over 20 years of experience
 in large pharma, mature biopharmaceutical and early-stage biotech environments.
 In March, 2002, he joined Oxford Bioscience Partners as an Entrepreneur in
 Residence.  Prior to joining Oxford, Dr. Luly held the positions of Senior
 Vice President, R&D Operations and Senior Vice President, Discovery Strategy
 and Operations at Millennium Pharmaceuticals, following the Company's merger
 with LeukoSite, Inc., where he served as Senior Vice President, Drug Discovery
 and Pre-Clinical Development. Prior to joining LeukoSite, he held a number of
 senior drug discovery positions at Abbott Laboratories from 1983 to 1997.  Dr.
 Luly earned a B.S. from the University of Illinois, Urbana/Champaign and a
 Ph.D. in synthetic organic chemistry from the University of California,
 Berkeley.
     Paul Mellett has also recently joined the company as Chief Financial
 Officer. Paul brings over 25 years of financial experience to the company.
 From April 2001 through August 2003, he held the position of Senior Vice
 President and Chief Financial Officer of Essential Therapeutics, Inc., a
 publicly-held biotechnology company. From 1997 to 2000, Mr. Mellett was the
 Chief Financial Officer and Vice President of Administration at GelTex
 Pharmaceuticals, Inc., a publicly-held biotechnology company acquired by
 Genzyme Corporation in December 2000.  Mr. Mellett received a BS in Business
 Administration from Boston College.
 
     Financing
     Enanta has secured $12 million in financing with participation from
 existing investors, including Techno Venture Management, Oxford Bioscience
 Partners, Advent International, BioVentures Investors, NIB Capital, Global
 Biomedicine, Swiss Life Private Equity Partners, Wheatley MedTech Partners and
 Yasuda Enterprise Development.  Enanta will also be providing an update on the
 progress of its novel macrolide programs with a presentation at the JPMorgan
 conference on January 15, 2004 in San Francisco.  "We believe that this
 financing will allow us to continue developing the product candidates in our
 macrolide program as well as advance several novel compounds toward the clinic
 for multiple indications," commented Mr. Mellett.
 
     About Enanta
     Enanta Pharmaceuticals is using its cutting-edge chemistry technology and
 drug discovery capabilities to create best in class small molecule drugs.  The
 company is initially focused on building a pipeline of first generation
 bridged bicyclic macrolide and ketolide antibiotics to combat bacterial
 resistance in the treatment of respiratory tract infections (RTI) and hospital
 borne diseases. Enanta also collaborates with pharmaceutical and biotechnology
 partners to leverage the company's chemistry expertise across a broad range of
 therapeutic areas. Enanta is a privately held company with offices in
 Watertown, MA.  More information about the company can be found at
 www.enanta.com.
 
     Contacts:
      Paul Mellett, Enanta Pharmaceuticals
      (617) 607-0761 - pmellett@enanta.com
 
      Kari Lampka, MacDougall BioCommunications
      (508) 647-0209 - kari@macbiocom.com
 
 

SOURCE Enanta Pharmaceuticals

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