NeuroMax, Ltd a Russian private biotech company, financed by Maxwell Biotech Venture Fund, which was set up with the participation of RVC, has announced the launch of Phase Ib clinical trial of its pharmaceuticals NM-IA-001 (BNV-222), intended for the pathogenetic treatment of diabetic neuropathy
NeuroMax was founded in 2010 in order to develop and market innovative drugs for treatment of CNS and PNS diseases in close partnership with the US biotechnology company BioNevia Pharmaceuticals Inc.
The clinical study, conducted at specialized medical centers in Moscow and Yaroslavl, is expected to last 3 months and represents a “Double-blind, placebo-controlled, randomized study of safety and pharmacokinetics of NM-IA-001 (BNV-222) (choline diepalrestat) at doses of 150 mg and 300 mg in subjects with diabetic peripheral neuropathy (DPN)”.
Nowadays there are no drugs for pathogenetic treatment of diabetes complications, such as NM-IA-001 (BNV-222). The new drug is a low-molecular inhibitor of aldose reductase ferment. This drug slows down diabetic neuropathy which is its main therapeutic indication. The drug can also be used to treat other diabetic complications such as diabetic nephropathy and retinopathy.
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.
About 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
About 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”