JUPITER, Fla., Feb. 26, 2025 -- Myosin Therapeutics, Inc., a biotechnology company developing novel therapies for cancer and neurological disorders, has closed its second seed funding round, raising over $3 million to supplement significant investment from the National Institutes of Health.
Myosin Therapeutics, Inc. (the "Company") is advancing its lead compound, MT-125, to treat glioblastoma, the most aggressive brain cancer with an average survival time of only 8 months. MT-125 targets a molecular nanomotor, blocking both tumor growth and invasion. The FDA granted orphan drug designation to MT-125 for malignant gliomas, underscoring its potential to improve outcomes for patients with this devastating disease.
The company is also progressing MT-110 for the treatment of methamphetamine use disorder (MUD), Millions worldwide suffer from MUD, yet no FDA-approved treatments currently exist. The latest funding, combined with NIH support, will allow MT-110 to enter Phase 1 clinical trials.
"This funding is pivotal as it will allow us to initiate multiple clinical trials this year, including a Phase 1b trial for MT-125 in glioblastoma patients," said Dr. Courtney Miller, co-founder and CEO of Myosin Therapeutics. "We are deeply grateful to our investors for their support as we work to bring innovative therapies to patients with cancer and substance use disorders."
The seed funding round was led by repeat investors, DeepWork Capital, Florida Opportunity Fund, and Mint12 Pharma, along with Dynagrow Capital, the private investment management affiliate of Fred Hassan. Also participating in the round were Mayo Clinic Ventures and The Sontag Innovation Fund, which is focused on accelerating solutions to change the standard of care in brain cancer. Dave Adams, co-Founder of Mint12 Pharma, stated, "Myosin Therapeutics exemplifies a well-run organization, consistently achieving key milestones to advance MT-125 and MT-110. Their dedication to innovative treatments for devastating conditions is inspiring, and we are confident in their ability to deliver meaningful solutions to patients."
About Myosin Therapeutics
Myosin Therapeutics is a Jupiter, FL-based biotechnology company spun out of The Herbert Wertheim UF Scripps Institute (formerly Scripps Research, Florida). The company is focused on developing therapies for neuroscience and oncology indications using a platform that targets molecular nanomotor proteins.
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