Myelo Therapeutics GmbH, a Berlin and Dresden, Germany-based pharmaceutical company, closed a Series B financing round of undisclosed amount.
The round was co-led by IBB Beteiligungsgesellschaft mbH with its VC Fonds Technologie Berlin and Eckert Life Science Accelerator GmbH, with participation from pharmaceutical company JSC Valenta Pharmaceuticals and Myelo001 inventor Dr. Vladimir Nebolsin.
The company intends to use the funds to complete the clinical proof of concept for Myelo001 in Chemotherapy-induced Neutropenia (CIN) and expand its preclinical research of Myelo001 to new areas.
Led by Dirk Pleimes, Managing Director and Chief Medical Officer, and Till Erdmann, Managing Director responsible for business development, Myelo recently received regulatory approval of its pivotal Phase II MyeloConcept study, a randomized, double-blind, placebo-controlled, parallel-design, multicenter study to investigate the efficacy and safety of Myelo001 in reducing Chemotherapy-induced Neutropenia (CIN) in patients receiving adjuvant or neoadjuvant chemotherapy for the treatment of breast cancer.
Myelo001 will be applied as a continuous, once-daily tablet starting 5 days prior to the first chemotherapy cycle. The study plans to enroll 160 patients across 20 study sites in Germany. Study results are expected in the first half of 2017.