Myosin Therapeutics Secures $3 Million Seed Funding in Jupiter, FL

News Summary

Myosin Therapeutics, a biotechnology firm based in Jupiter, Florida, has successfully raised $3 million in seed funding to advance its clinical trials for groundbreaking drug candidates. Investors include DeepWork Capital, Mayo Clinic Ventures, and others. The company aims to develop novel therapies for glioblastoma and methamphetamine use disorder. With the new funding, Myosin Therapeutics is set to initiate pivotal Phase 1 trials, representing a significant step in addressing critical medical needs in oncology and substance use disorders.

Exciting News from Jupiter, Florida: Myosin Therapeutics Secures $3 Million Seed Funding!

In an exciting leap towards groundbreaking medical advancements, Myosin Therapeutics, a budding biotechnology company located in the sunny city of Jupiter, Florida, has just bagged a whopping $3 million in seed funding! This remarkable financial boost marks a significant step forward for the company, as it gears up to initiate multiple clinical trials throughout 2023.

Who Are the Investors?

The impressive funding round saw contributions from a diverse group of investors, including the DeepWork Capital, Florida Opportunity Fund, Mint12 Pharma, Mayo Clinic Ventures, and The Sontag Innovation Fund. Their confidence in Myosin’s vision of innovative therapeutic solutions has been pivotal in turning ideas into reality.

A Brief History

Myosin Therapeutics sprang onto the scene in 2020 as a spin-out from the prestigious Herbert Wertheim UF Scripps Institute. Since then, the company has been on a mission to tackle some of the most challenging medical conditions. The co-founder and CEO expressed heartfelt gratitude towards the investors who have believed in their innovative vision.

Focus on Life-Changing Drug Candidates

The company is honing its efforts on two primary drug candidates that hold immense promise:

• MT-125: This drug is aimed at treating glioblastoma, which is known to be the deadliest form of brain cancer. This aggressive cancer affects the brain and spinal cord, with a dire average survival rate of just 12 to 18 months and a staggering 95% fatality rate. MT-125 is designed to block tumor growth and invasion and has already shown potential as a first-in-class therapy based on early models. Excitingly, the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to MT-125 for its use in treating malignant gliomas. With the new funding, Myosin will kick off a Phase 1b trial for this promising candidate.
• MT-110: This drug aims to combat methamphetamine use disorder, a serious condition that affects nearly three million Americans and currently lacks any approved treatments from the FDA. Previous support from the National Institutes of Health has already paved the way for MT-110’s entry into Phase 1 clinical trials.

Tackling Critical Medical Needs

The overarching goal of Myosin Therapeutics is to step in and address critical unmet medical needs in the fields of oncology and substance use disorders. By focusing on the root causes of these diseases rather than just their symptoms, the company aims to deliver solutions that pave the way for a healthier future.

A Vision for the Future

As Myosin Therapeutics sets its sights on the launch of pivotal clinical trials, the support from its diverse pool of investors cannot be understated. Their commitment to the cause affirms a collective desire to innovate and bring forth new treatments for some of the toughest medical conditions we face today.

With substantial financial backing and a fervent drive for progress, Myosin Therapeutics stands poised to make a substantial impact in the medical community. The coming year is sure to hold promising developments, and for those affected by glioblastoma and methamphetamine use disorder, these advancements offer a glimmer of hope.

Deeper Dive: News & Info About This Topic

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