Venture Fund Maxwell Biotech, created with the participation of JSC RVC’s capital will invest in Osteros Biomedica Company, a developer of drugs for the treatment of bone lesions caused by malignant tumors. This first round of investment, the volume of which is not reported, aims to complete the pre-clinical development of the drug MBC-11 and to prepare it for clinical trials.
Russian private biotech JSC Osteros Biomedica which is a part of Maxwell Biotech Group holding was established in 2012. The company holds global rights for the drug MBC-11 and plans to continue the development of this drug for the treatment of multiple myeloma, osteosarcoma, and metastatic bones lesions. Some researches in animal models have been already conducted and showed high efficacy of MBC-11 in daily taking during one week course of therapy. The main advantages of the new product: high efficiency even at low doses, as well as the possibility of using in adjuvant.
According to Nike Golub, the General Director of Osteros Biomedica, the project of the company involves the implementation of effective targeted approach in metastatic bone lesions treatment through innovative technological solutions.
Multiple myeloma is a tumor disease of the blood system which relates to chronic lymphocytic leukemia and arises from bone marrow cells. At the same time it also affects the bone substance itself. Metastases in bones often complicate the breast cancer, prostate cancer, lung cancer, kidney cancer and thyroid cancer, which is more than 700K new cases each year.
Yan Ryazantsev, the Director of Investment Department of JSC RVC says that the deal with Osteros Biomedica Company is a good example of the fact that the activities of RVC and its portfolio fund Makvsell Biotech shows not only high potential of economic benefit, but also contributes to the development of the industry which leads to the improved quality of life for people with serious diseases.