Verona Pharma announced that it has raised approximately $200 million in a private placement, with net proceeds of ~$183 million to be used for Phase 3 development of nebulized ensifentrine for the treatment of COPD. The company said that the Phase 3 ENHANCE (Ensifentrine as a Novel inHAled Nebulized COPD thErapy) program is expected to begin later this year.
In May 2020, Verona announced that it planned to move ahead with Phase 3 development of the nebulized formulation of ensifentrine after receiving the FDA’s response to its Phase 2 data. The company had announced positive results from a Phase 2b dose-ranging study of nebulized ensifentrine as an add on to tiotropium for the treatment of COPD in January 2020.
The company’s pipeline also includes MDI and DPI formulations of ensifentrine.
Verona President and CEO David Zaccardelli said, “We are extremely pleased to have received support from this group of highly experienced life science investors who understand the potential benefit of ensifentrine for patients with COPD. With this financing we plan to initiate our Phase 3 ENHANCE clinical trials later this year and expect to support our programs into 2023. This important milestone brings us closer to our goal of ensuring ensifentrine is available for millions of COPD patients who urgently need additional treatment options.”
Read the Verona Pharma press release.
