Merganser Biotech, a drug licensing and development startup, has secured funding from a consortium that includes BioAdvance, the Biotechnology Greenhouse of Southeastern Pennsylvania and individual investors for its plan to develop hepcidin mimetic peptides for the treatment of diseases related to iron overload.
The amount invested was not disclosed.
Merganser signed an agreement for an option to license a novel class of hepcidin mimetic peptides that have been discovered in the laboratory of Professor Tomas Ganz and Dr. Elizabeta Nemeth at UCLA. The company will evaluate these novel peptides as potential therapeutics for the treatment of beta-thalassemia and other diseases associated with iron overload, according to a press statement.
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“Our initial goals are to move forward with the project so we can meet with regulatory authorities for a pre-R&D meeting,” CEO Brian McDonald told MedCity News.
Launched earlier this year, Merganser Biotech, a virtual startup in Newtown Square, Pennsylvania, is focused on the licensing and development of early stage, novel peptidyl therapeutics. McDonald has worked for companies such as GlaxoSmithKline (NYSE:GSK) and 3-Dimensional Pharmaceuticals, acquired by Johnson & Johnson (NYSE: JNJ) in 2003.
About 1,000 people in the United States suffer from beta-thalassemia, a genetic disorder tied to low production of hemoglobin, the iron-containing protein in red blood cells that carries oxygen to different parts of the body. People with this condition have frequent transfusions, which can be associated with iron overload and can be related to heart or liver failure. About 1 million people have the disease globally and it is increasingly common in developing countries such as India and China, McDonald said.
“Hepcidin mimetics may have significant advantages over conventional chelation therapy for a group of rare and serious diseases that are associated with excess accumulation of iron in the body,” said McDonald. “With our significant experience in the formulation and development of peptide therapeutics, we believe we are strongly positioned to move these compounds into the clinic.”
