MYR receives €7.9m from HTGF et al.

The fresh capital will be used for further clinical trials for Myrcludex B, a drug for the treatment of chronic hepatitis B and hepatitis delta virus infections.

According to MYR, chronic hepatitis delta is the most severe form of viral hepatitis, which induces liver disease and cirrhosis in 60-80% of sufferers. The current therapy, interferon alpha, has a 30-40% response rate and a high chance of relapse. It states that up to 20 million people are affected with hepatitis delta worldwide, including 250,000 people in the EU and the US.

MBVF is a Russian venture fund dedicated to life sciences investments, backed by Russian Venture Company.

Previous funding
MYR received €500,000 in seed funding from HTGF in May 2011. The capital was used for phase-1 clinical trials. Less than a year later, HTGF and Russian government-backed Maxwell Biotech Venture Fund invested in a joint project to develop Myrcludex B. Russian company Hepatera and HTGF's MYR received funding.

Company
Founded in 2010 and headquartered in Burgwedel, MYR is a biotechnology company developing a treatment for chronic hepatitis B and hepatitis delta virus infections. The Myrcludex B drug treatment inhibits the disease receptor and prevents healthy cell infection and the virus spreading within the liver. The drug was developed by the French National Institute of Health and Medical Research and the University of Heidelberg.

People
Dmitri Popov is managing partner of Maxwell Biotech Venture Fund. Bernd Goergen is an investment director at HTGF. Alexander Alexandrov is medical director at MYR.

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