IBB backs Myelo Therapeutics in series-A

IBB invested alongside venture capital firm Eckert Wagniskapital und Frühphasenfinanzierung and Russian pharmaceutical company JSC Valenta Pharmaceuticals.

IBB provided capital via its VC Fonds Technologie Berlin vehicle, which launched in November 2004. The fund held its final close on €52m. 

The fresh financing will be used to develop adjuvant cancer therapy (care given in addition to primary, main or initial treatment), with a focus on its preclinical and early clinical development.

Company
Myelo's lead compound for its cancer therapy is Myelo001, a small molecule for the treatment of patients with chemotherapy-­induced neutropenia and thrombocytopenia.

People
Till Erdmann is Myelo's managing director. Dirk Pleimes is the company's co-­founder and managing director, as well as chief medical officer. Alexander Itin is CEO of JSC Valenta Pharmaceuticals. Christian Seegers is senior investment manager at IBB.

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