Maxwell Biotech Venture Fund created with the participation of RVC is increasing assets in accordance with its development strategy. NeuroMax, Ltd was founded in 2010 in order to develop and market innovative drugs for treatment of CNS and PNS diseases.
The first product NM-IA-001 licensed from and developed in close partnership with the US biotechnology company BioNevia Pharmaceuticals Inc., is intended for the pathogenetic treatment of diabetic neuropathy. NeuroMax has successfully completed Phase Ia clinical trials on safety and tolerance and is ready to conduct Phase Ib clinical trials.
The new pharmaceutical drug NM-AQU-005, added to portfolio of NeuroMax, is a small molecule inhibitor of matrix metalloproteinases (MMPs) and aimed at treatment of neuropathic pain. According to the developers, selective inhibition of two most perspective targets (MMP-2 and MMP-9) can afford to prevent the development of neuropatic pain, appearing under degenerative processes of the nerve cells. Dual mechanism of action gives ground to expect a long-lasting therapeutic effect. Preclinical studies have shown efficacy and safety of the drug on model systems. “NeuroMax” is planning to conduct clinical trials of its new drug NM-AQU-005 in 2014.
"We expect the new drug, aimed at treatment of neuropathic pain of various genesis, to enhance significantly our portfolio due to project’s synergy and allow to solve successfully not only the most important medical problems but also business challenges, facing the company,” said Nikolay Golub, CEO of NeuroMax.
NeuroMax, Ltd is a Russian private biotech company, financed by Maxwell Biotech Venture Fund, set up with participation of RVC. The company was founded in 2010 in order to develop and market innovative drugs, intended for fighting against the central and peripheral nervous system diseases. NeuroMax, Ltd., member of the technological holding “Maxwell Biotech Group”, is a resident of the Biomed Cluster at Skolkovo Innovation Center and a member of the Technology Platform “The Medicine of the Future”. The first drug candidate NM-IA-0012 licensed from and developed in close partnership with the US biotechnology company BioNevia Pharmaceuticals Inc., is intended for the pathogenetic treatment of diabetic neuropathy.
Maxwell Biotech Group
Maxwell Biotech Group (MBG) is a development partner and financial resource for innovative biotechnology companies. MBG provides investment capital and access to an established infrastructure for conducting high-quality clinical trials in Russia, and helps enable the rapid and cost-effective achievement of clinical objectives. Our unique business model can add value to our partners’ pipelines and provide a commercialization path to one of the most lucrative emerging markets. MBG relies on an experienced international team of managers and financial and industry experts. The Group includes 10 innovative biotechnological projects, developing in the portfolio companies: Oncomax, Photonics, Metamax, Infectex, NeuroMax, CardioNova, Hepatera, Osteros Biomedica, Eleventa. All the group’s companies are the residents of the Biomed Cluster at Skolkovo Innovation Center and 5 of them are members of the Technology Platform “The Medicine of the Future”.
For further information, please contact
Anna Sitnikova, Chief public relations Expert “Maxwell Biotech Group”
Tel. (495) 411-6992
Russian Venture Company
RVC is a government fund of funds and a development institute of the Russian Federation, one of Russia's key tools in building its own national innovation system.
RVC was established by Russian Government on June 7, 2006 (Order No. 838-r). Its mission is to encourage Russia’s own VC industry and boost capital of VC funds. RVC’s role is that of a government fund of venture capital funds channeling public incentives to venture capital and financial support to the hi-tech sector, and of a Russian VC industry development institution.
RVC’s authorized capital — RUB 30 011 320 700 (about US$ 983.2 mln.) — is 100% owned by the Federal Agency for State Property Management (Rosimuschestvo). RVC has backed 12 funds to a total capitalization of RUB 26.1 bln, its share amounting to RUB 16 bln. As on January 2013, RVC backed funds run a portfolio of 139 companies, invested capital totaling more than RUB 12.1 bln.
Natalia Samokhvalova, Chief public relations Expert “Maxwell Biotech Group”