MYR Receives €500K Equity Investment from High-Tech Gründerfonds
MYR GmbH, a Burgwedel (Hannover), Germany-based biotech company that develops a drug for the treatment of chronic hepatitis B and D infections, has received a €500k equity investment from High-Tech Gründerfonds.
The company will use the funds to start Phase 1 clinical development for its viral entry inhibitor Myrcludex, which will be performed at the University Clinic Heidelberg in healthy volunteers in summer 2011. Myrcludex has already shown great efficacy against HDV in preclinical tests.
The completion of Phase 1 and the start of the “proof-of-concept” Phase 2 study are planned for 2012.
MYR, which develops its lead compound in collaboration with the University Clinic Heidelberg, holds the world-wide exclusive product rights for Myrcludex. Founded in 2010, the company currently has 2 employees, who are focused on the coordination of the network of academic partners and vendors involved in Myrcludex’ development.
Dr. Alexander Alexandrov is CSO at MYR.