2021-07-21 12:37 ET – News Release

Dr. Mark Williams reports


Marvel Biosciences Corp.’s wholly owned subsidiary Marvel Biotechnology Inc. has achieved a significant science milestone in the development of its lead compound MB-204. Marvel Biotechnology has entered into a current good manufacturing process (cGMP) manufacturing agreement with Zhejiang Ausun Pharmaceutical Co., Ltd. (Ausun) for the supply of its lead asset MB-204 for toxicology studies and clinical trials. MB-204 is the company’s lead compound with potential application to the neurological diseases of depression and anxiety, Alzheimer’s, ADHD (attention-deficit/hyperactivity disorder) and non-neurological diseases such as cancer and non-alcoholic steatohepatitis.

Ausun was chosen and the agreement entered into as a result of an extensive request for proposal (RFP) process and negotiations undertaken by Marvel Biotechnology for the pilot manufacturing of its lead compound, MB-204. The company believes that Ausun possesses the expertise in process development and custom manufacturing of active pharmaceutical ingredients, intermediates and formulated products, and will develop the chemical process and manufacture of Marvel’s MB-204 active pharmaceutical ingredient (API) formulation.

“This is a major science milestone event for the company as we work to achieve and develop our lead asset MB-204 for clinical testing and commercialization,” stated Dr. Mark Williams, president and chief science officer of Marvel. “This program has now commenced and follows after the completion of our reverse takeover and amalgamation transaction with our partners at Alphanco, and the recommencement of trading on the TSX-V last week as Marvel Biosciences Corp. We look forward to updating the market on our progress and the lead asset MB-204.”

About Marvel Biosciences Corp.

Marvel Biosciences, and its wholly owned subsidiary Marvel Biotechnology Inc., is a Calgary-based biotechnology company that utilizes a drug redevelopment approach to drug development. Historically, when a new class of drug is developed, it is optimized for a particular target but typically only approved for a specific disease. Often, a new disease is identified which involves the same target; however, pending the remaining patent life, the originally approved drug may not have sufficient time left for it to be commercially viable to be developed for the new disease indication. Marvel develops new synthetic chemical derivatives of the original approved drug for the new disease indication. Patent protection is sought as the new potential asset is developed by the company. The company believes the business model results in significantly less risk, cost and time to develop its assets compared with traditional biotechnology companies.

Marvel Biotechnology has currently developed several new chemical entities, using synthetic chemical derivatives of known, off-patent drugs, that inhibit the A2a adenosine receptor with application to neurological diseases (depression and anxiety, Alzheimer’s, ADHD) and the non-neurological conditions of cancer and non-alcoholic steatohepatitis. Marvel is also exploring additional undisclosed targets to expand its asset pipeline.

We seek Safe Harbor.

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