AmorChem Spins out Its Muco-Adhesive Nanoparticle Delivery Platform into MyX Therapeutics, with 450,000$ Seed Investment.
MONTREAL--(BUSINESS WIRE)--Dec 17, 2018--AmorChem announces today the creation of MyX Therapeutics Inc, its sixth spin-off company focusing on MyX-001, a biodegradable muco-adhesive nanoparticle delivery platform, capable of sustained drug releases for ophthalmic use and other mucosa-based deliveries. All rights to the MyX-001 technology initially held by AmorChem have been transferred to MyX Therapeutics, with a first seed investment of 450,000$. This capital will allow MyX to clinch its first deals with commercial partners, targeting primarily ocular diseases in both animal and human health.
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Developed by University of Waterloo researchers Dr Frank Gu, Dr. Lyndon Jones, and Dr. Sandy Liu, the MyX-001 technology demonstrated great potential of this platform for local mucosal targeted administration. “This delivery system can be tuned according to drug properties to maximize the drug loading in nanoparticles and provide sustained release for maximal drug efficacy. It combines the key advantages of our competitors in a single drug delivery platform,” explains Dr. Inès Holzbaur, co-founder and managing partner, AmorChem.
“This technology holds great promise to improve patient health through the novel delivery of ophthalmic drug therapeutics. Our partnership with AmorChem is a great example of visionary capital and innovative research coming together to create a disruptive technology start-up company like MyX,” adds Scott Inwood, Director of Commercialization, University Waterloo.
“MyX-001 is a platform uniquely designed to provide market differentiation to numerous highly effective generic API drugs by allowing increase compliance with the potential for 1x/day or 2x/week dosing, while providing hydration and lubrication to localize mucosal tissue. Additionally, MyX-001 may allow for an increase safety threshold for enabling new drugs or establish drug’s profile, as it has been shown in our initial animal models that significantly less drug may necessary to obtain the same efficacious results,” comments Gregory L. White, CEO, MyX Therapeutics.
MANAGEMENT TEAM OF MyX THERAPEUTICS
Upon creation of MyX Therapeutics, AmorChem appointed Gregory L. White, M.Sc. (Zoology), M.Sc. (Biochem/Mol. Biol.), as President and CEO, Dr. Frank Gu, Ph.D., as Chief Scientific Officer and, Véronique Bougie as Chief Operating Officer of the company. Their mandate is to expand the use of MyX-001 delivery platform to various medical indications and other application unrelated to health.
ABOUT MyX THERAPEUTICS INC
MyX Therapeutics ( www.myxthera.com ) is a unique enabling mucosal delivery platform technology company to focus on a product development licensing partnership business model. Its technology is a patented biodegradable delivery-adhesive nanoparticle which allows its team to create market sector differentiating novel products for various routes of administration, including ophthalmic, sublingual & intranasal, vaginal and gastrointestinal deliveries.
AmorChem ( www.amorchem.com ) is a leading, early-stage, venture capital fund located in Montreal focused on creating promising life science companies from technologies originating primarily from Quebec-based universities and research centres. With 95M$ under management, AmorChem targets disruptive technologies which provide huge impact on patients’ health and foster their path up to clinical stage.
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CONTACT: Inès Holzbaur, Ph.D.
Co-founder and managing partner, AmorChem
Gregory L. White, M.Sc., M.Sc.
President and CEO, MyX Therapeutics Inc.
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY CLINICAL TRIALS PHARMACEUTICAL
SOURCE: MyX Therapeutics
Copyright Business Wire 2018.
PUB: 12/17/2018 08:00 AM/DISC: 12/17/2018 08:01 AM