A clinical-stage biotechnology startup that’s developing a therapy for neuromuscular diseases such as muscular dystrophy has received a $250,000 investment from nonprofit economic development group JumpStart.
Cleveland-based Milo Biotechnology’s drug candidate is based on technology developed at Columbus’ Nationwide Children’s Hospital, and the company has already begun a clinical trial there, according to a statement from JumpStart. (Disclosure: JumpStart is also an investor in MedCity Media.)
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The company’s lead product is a protein that stimulates muscle growth and prevents muscle scarring after injury.
Muscular dystrophy is a group of inherited disorders that involve muscle weakness and loss of muscle tissue, which get worse over time. It’s most frequently found in children.
Milo’s phase 1/2 clinical trial is enrolling patients with two specific types of muscular dystrophy — Becker muscular dystrophy and inclusion body myositis. The trial was funded by a grant from Parent Project Muscular Dystrophy.
In preclinical studies in mice and nonhuman primates, the drug candidate brought about increases in muscle size and strength, according to the statement.
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The company’s CEO is Al Hawkins, currently an entrepreneur-in-residence with Cleveland nonprofit BioEnterprise. Previously, Hawkins managed a venture capital fund for Boston University and was a partner with Agave Group New Venture Consulting.
[Photo from flickr user Tony Crider]
