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Myelo Therapeutics GmbH. (12/15/15). "Press Release: Myelo Therapeutics Receives Approval to Start Phase II of Myelo001 in Chemotherapy-induced Neutropenia and Closes Series B Financing Round". Berlin.

Region Region Germany
Organisations Organisation Myelo Therapeutics GmbH
  Organisation 2 VC Fonds Technologie Berlin GmbH
  Group Berlin (govt region)
Products Product Myelo001 (Myelo Therapeutics)
  Product 2 venture capital
Index term Index term Myelo Therapeutics–SEVERAL: investment, 201512 financing round Series B incl VC Fonds Technologie Berlin + ELSA + JSC Valenta + Vladimir Nebolsin
Persons Person Pleimes, Dirk (Myelo Therapeutics 201304– Managing Director)
  Person 2 Erdmann, Till (Myelo Therapeutics 201304– Managing Director)
     


Myelo Therapeutics GmbH announced today regulatory approval of its pivotal Phase II MyeloConcept study and the successful closing of its Series B financing round.
The MyeloConcept study is 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 MyeloConcept study plans to enroll 160 patients across 20 study sites in Germany. Study results are expected in the first half of 2017.

The successful closing of its Series B financing round will enable Myelo Therapeutics to complete the clinical proof of concept for Myelo001 in CIN and expand its preclinical research of Myelo001 to new areas. The financing round was co-led by venture capital investors IBB Beteiligungsgesellschaft mbH with its VC Fonds Technologie Berlin and Eckert Life Science Accelerator GmbH, as well as the pharmaceutical company JSC Valenta Pharmaceuticals and Myelo001 inventor Dr. Vladimir Nebolsin.

Dirk Pleimes, Managing Director and Chief Medical Officer, stated, "Myelo001 offers a novel, orally applied treatment of chemotherapy-induced neutropenia and bone marrow suppression. New adjunct treatment options are needed for cancer patients to allow the full chemotherapy dose to be maintained and to decrease the incidence of infections. “

Till Erdmann, Managing Director responsible for business development, declared, “In less than three years after founding the company, we brought our first development compound to phase II clinical stage. Our scientific progress and the company’s increase in value are confirmed by several outstanding institutional and strategic investors that participated in our Series B financing round. With a well-defined development strategy for an innovative compound, we are targeting an indication with high unmet medical need, no significant treatment innovation for over 20 years, and a market size of USD 6 billion.”

“Myelo001 has shown its potential in several indications, such as Chemotherapy- and Radiotherapy-induced Myelosuppression, as well as the prevention and treatment of respiratory viral infections. I am pleased that we are now starting clinical development in Chemotherapy-induced Neutropenia as a first step,” says Dr. Vladimir Nebolsin, the medicinal chemist who first synthesized Myelo001.

"Myelo Therapeutics’ management convinced us with the significant progress they have achieved so far in a short time period, as well as a well-executed development strategy for an innovative compound with high market potential,” said Christian Seegers, senior investment manager of the IBB Beteiligungsgesellschaft. "We are convinced that financing Myelo Therapeutics GmbH further promotes the strong pharmaceutical environment in Berlin."


About Chemotherapy-induced Neutropenia (CIN):

Cytotoxic chemotherapy frequently suppresses the hematopoietic system, impairing host protective mechanisms. Chemotherapy-induced Neutropenia (CIN), the most serious hematologic toxicity, is associated with the risk of life-threatening infections, as well as chemotherapy dose reductions and delays that may compromise treatment outcomes. The global annual revenue of the medication used most frequently to treat CIN is USD 6 billion. http://www.ncbi.nlm.nih.gov/pubmed/14716755


About Myelo001:

Myelo001 is a new, innovative adjuvant cancer therapy for the treatment for CIN. In preclinical and first clinical studies, Myelo001 has shown to be well tolerated and effective in reducing the risk of CIN in patients across various cancer types and chemotherapy regimens. In addition, Myelo001 possesses antiviral properties, an additional benefit in immunosuppressed patients. Myelo001 is taken orally, starting treatment prior to chemotherapy.

http://www.myelotherapeutics.com/news_files/Myelo001_Abstract_MASCC_2015.pdf https://ash.confex.com/ash/2014/webprogram/Paper76791.html


About Myelo Therapeutics GmbH:

Myelo Therapeutics is a pharmaceutical company based in Berlin and Dresden, Germany, that is
developing innovative treatments in areas of high unmet medical needs. For more information, visit www.myelotherapeutics.com.

Contact: Myelo Therapeutics GmbH; Till Erdmann, Kastanienallee 56; 10119 Berlin – Germany Phone: +49 (0) 170 9126 402; info@myelotherapeutics.com


About IBB Beteiligungsgesellschaft mbH:

IBB Beteiligungsgesellschaft (www.ibb-bet.de) provides venture capital to innovative Berlin-based companies and has established itself as a market leader in the field of early stage financing in Germany. The funds are used primarily for the development and market launch of innovative products or services, as well as for business concepts of creative industries. Currently two of the funds managed by the IBB Beteiligungsgesellschaft are in the investment phase, the VC Fonds Technologie Berlin II with a fund size of 60 MEUR and the VC Fonds Kreativwirtschaft Berlin II with a fund size of 40 MEUR. Both VC funds are financed by means of the Investitionsbank Berlin (IBB) and the European Fund for Regional Development (EFRE) administered by the State Berlin. Since 1997 the IBB Beteiligungsgesellschaft, in consortia with partners, has made 1.006 MEUR available to creative and technology-orientated companies; thereof, the portion invested by IBB Beteiligungsgesellschaft itself, as lead, co-lead or co-investor, was approximately 141 MEUR.

Contact: IBB Beteiligungsgesellschaft mbH, Christian Seegers, Bundesallee 210, 10719 Berlin, Germany Phone: +49 (0) 30 2125 3201; venture@ibb-bet.de; www.ibb-bet.de


About Eckert Life Science Accelerator (ELSA) GmbH:

Eckert Life Science Accelerator (ELSA) GmbH is a venture and early-phase financer that has specialized for more than 20 years in technology-oriented manufacturing companies in the life sciences field (biotechnology, medical technology, pharmacy), interpreting life science broadly to include related topics and industries such as analytics, material science and clinical developments. The regional focus is on Berlin and its environs; in terms of life cycle, investments are mainly made into start-ups or early phases. Among the most successful ELSA company foundings are Eckert & Ziegler AG (www.ezag.de) and Glycotope (www.glycotope.com). ELSA has supported in total nearly 20 companies and start-ups since 1990.

Contact: ELSA GmbH, Robert-Rössle-Str. 10, 13125 Berlin, Germany, www.elsalifescience.com


About JSC Valenta Pharmaceuticals:

JSC Valenta Pharmaceuticals is the second-largest Russian pharmaceutical company. Its products are sold in 18 countries. The company develops, produces and promotes Rx and OTC/OTX products in the therapeutic areas neurology, urology, gastroenterology, immunology, virology, antibacterial therapy, and others. For more information, visit www.valentapharm.com/eng/.

Contact: JSC Valenta Pharmaceuticals, General Manager Anton Strekalov, Generala Dorokhova str., 18-2. Moscow, Russia; Phone: +7 495 933 60 80









   
Record changed: 2019-04-26

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