Calgary, Alberta–(Newsfile Corp. – February 8, 2022) – Marvel Biosciences Corp. (TSXV: MRVL) and its wholly-owned subsidiary, Marvel Biotechnology Inc. (collectively the “Company” or “Marvel”) is pleased to provide a corporate update on the operations of the business.
The Company is pursuing a well-known and proven to be effective strategy of redeveloping existing and approved drugs to target new indications and diseases. This is a de-risked approach to drug development, as often, the safety profile of drug candidates is predictable and as a new novel drug, it would be fully protected by patents, directly benefiting shareholders of the Company.
After showing very promising results in pre-clinical studies, Marvel’s lead candidate, MB-204, is in preparation to enter clinical trials to validate early indications of efficacy in treating depression and anxiety through effects on attention and motivation.
This is the natural next step and significant shareholder value-creating milestone with the ultimate goal of bringing this product to the market. In 2021, the Company’s pre-clinical data suggested that lead asset MB-204 could be dosed as a once-a-day oral agent, possessing an attractive profile for central nervous system diseases (“CNS”) involving the adenosine A2a receptor (“A2aR”).
In addition, MB-204 has also shown indications of being able to treat Non-alcoholic Steatohepatitis (NASH). In the Company’s pre-clinical studies, MB-204 showed a reduction in NAS Scores in multiple model NASH and MB-204 showed 47% reduction in liver fibrosis, out-performing the leading Phase III anti-fibrotic NASH drug Cenicriviroc, in a head-to-head study. The NASH market is over $20 billion and MB-204 unique mechanism of action positions Marvel to play an important role in this significant market.
“We are very optimistic about the prospect of what MB-204 has shown thus far, and our very promising pre-clinical data gives us a significant amount of confidence that we are on the right track, and all of our focus is to bring this lead candidate into clinical trials in 2022,” said Rod Matheson, Chief Executive Officer of Marvel Biosciences.
Over the course of 2022, there are several key milestones that the Company expects to deliver:
1- Maximum Tolerated Dose Study – an animal toxicity study that helps the Company establish the dose that produces an acceptable level of toxicity or that, if exceeded, would put the subject at unacceptable risk of toxicity.
2- Pharmacological GLP toxicology studies – to understand the onset, degree of severity, and time length up to which a particular dose of a MB-204 demonstrates any toxic effects.
3- Enter human clinical studies
4- Begin partnership discussion with other biotechnology companies
“We currently have great momentum in driving shareholder value in our business,” continued Rod Matheson. “We are moving full force towards the clinic with MB-204 as quickly as possible and are confident that our business model of focusing on the discovery and development of synthetic derivative compounds of known proven drugs for diseases of large unmet medical need will enhance shareholder value faster and more economically than with traditional biotech models”.
About Marvel Biosciences Corp.
Marvel Biosciences Corp., and its wholly-owned subsidiary, Marvel Biotechnology Inc., is a Calgary-based pre-clinical stage pharmaceutical development 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 to traditional biotechnology companies.
Marvel Biotechnology Inc. 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 & 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.
Virtus Advisory Group
Marvel Biosciences Corp.
J. Roderick (Rod) Matheson, Chief Executive Officer or
Dr. Mark Williams, President and Chief Science Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this press release.
All information contained in this news release with respect to the Company and its subsidiary, (collectively, the “Parties”) were supplied by Marvel, respectively, for inclusion herein and each parties’ directors and officers have relied on each other for any information concerning such Party.
This news release may contain forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the expectations of the Company and include other risks detailed from time to time in the filings made by the Company under securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that the above events on the terms will occur and within the time disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.