MYR GmbH, a Burgwedel, Germany-based biotechnology company, raised $10m in funding.
Backers included Maxwell Biotech Venture Fund and High-Tech Gruenderfonds.
The company intends to use the funds for the further product development of Myrcludex B, a drug for the treatment of chronic hepatitis B (HBV) and D (HDV) virus infections.
Founded in 2010, MYR GmbH has been advancing Myrcludex B, a drug for the treatment of chronic hepatitis B and delta virus infections. The drug inhibits the recently identified HBV receptor on the hepatocyte surface and prevents the infection of the healthy cells and viral spreading within the liver.
The company plans initiation of a pivotal clinical program in hepatitis delta in the first quarter of 2015.