Nan Fung Life Sciences (NFLS), the global investment platform of the Nan Fung Group, led this round following their leadership of the original Series A raise. The Company will use the proceeds to finance the advancement of their diverse pipeline, including its lead assets, ENX-101, ENX-102 and internal preclinical programs. Engrail’s lead compounds are subtype-selective GABA-A modulators with compelling pharmacological profiles that possess wide ranging therapeutic utility. “Earlier this year, we initiated a Phase 1b study for ENX-101 and Phase 1a study for ENX-102. This funding will help advance these assets, as well as our earlier-stage pipeline, as rapidly as possible while continuing to build out our clinical development capabilities,” said Vikram Sudarsan, Ph.D., CEO and president of Engrail Therapeutics. “Additionally, NFLS has made a long-term commitment to invest $2 billion in the life sciences sector, enabling us to continue leveraging our flexible transaction model to acquire assets with validated mechanisms to treat diseases of the nervous system through licensing, co-development and company acquisitions. We continue to pursue transactions that will grow our pipeline and cater to major unmet needs in the neurosciences.” Engrail has assembled a diverse portfolio of assets with validated mechanisms through its dynamic model for advancing drugs aimed at treating life-limiting diseases of the nervous system. By adopting a 'science-first' approach, combined with a comprehensive view of clinical development strategy, regulatory considerations and intellectual property, the Company can find differentiated assets with validated mechanisms of action for diseases where significant patient need still exists. “Engrail has demonstrated impressive progress in the past year since its founding with the initiation of two Phase 1 studies for its lead candidates,” said Peter Bisgaard, managing director of NFLS and chairman of Engrail’s board of directors. “We are excited to support this team as it continues acquiring high-quality assets and advances them through clinical development.” Founded in 2019, Engrail is forging a new direction to reduce the enormous burden of diseases that impact the nervous system. We unite biological insights with clinically meaningful solutions to build and catalyze a diversified portfolio of transformative medicines. Harnessing our rigorous scientific approach to identify the most promising therapies, we leverage our flexible transaction model to advance assets with validated mechanisms and efficiently move them through development to commercialization. Engrail is supported by a long-term capital commitment from Nan Fung Life Sciences . For more information, visit www.engrail.com . Nan Fung Life Sciences is a global life sciences investment platform with a long-term capital commitment from the Nan Fung Group. Our team possesses diverse experience with long track records in company formation, venture capital, growth/buyout investments, and drug discovery and development.https://www.businesswire.com/news/home/20210803005242/en/Engrail-Therapeutics-Extends-Series-A-Financing-to-64-Million
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The expansion of its use is now more important than ever due to the ongoing threat of the pandemic. According to the Carpenters Council, approximately 99,000 people die in hospitals every year due to secondary infections contracted during their stays. One of the major causes of secondary infections is cross contamination, which can occur during hospital remodels. The removal of ceilings, walls, flooring, etc. releases agents that may be trapped behind ceilings and walls, and under floors. If not handled properly, these infectious agents are transferred through HVAC systems, drafts, feet tracking, etc. to other areas of the hospital occupied by patients with compromised immune systems who are more likely to be susceptible to secondary infections. Healthcare facilities require contractors and workers who have been trained to handle these situations during construction. The knowledge gained now informs a wide range of construction projects during the continued COVID-19 fight. And, the Eastern Atlantic States Regional Council of Carpenters, through the Carpenters International Training Fund (CITF), provides ICRA training and qualification to members at both the apprentice and journeyman level. Throughout the pandemic, healthcare and other frontline essential workers have received deserved praise and thanks for their heroic efforts. At the same time, other essential extra resources workers, including construction workers, went unsung. “A good portion of our members faced many of the same challenges the healthcare community struggled with,” IBEW Local 102’s Corrigan points out. “They worked in hospitals and were on hand to build and maintain the temporary testing and vaccination sites throughout our state. We were not alone; the building trades community joined many of our neighbors going to work every day over the past year ensuring that New Jersey continued to move forward.” Looking ahead, ACCNJ’s Kocsis says he is optimistic. “When we started 2020, we were looking forward to the strongest performance in our industry since the Great Recession. We had only begun to recover in 2016. Now, less than five years later, jobs that were in the pipeline disappeared or were delayed,” he adds. “Despite vaccinations, our economic forecasts predict a bleak 2021 before work begins to pick up again in 2022. Calling it a “once-in-a-generation investment in America,” President Biden in March announced a $2-trillion plan to rebuild and upgrade infrastructure, including roads and bridges, among other key boosts to the economy and job creation. Opportunities for union contractors abound in the scope and depth of the initiative to “build back better.” “Warehouses are planned all over the state, north and south.https://njbmagazine.com/special-sections/2021-construction-special-section/construction-sites-and-covid-19/