Myosin Therapeutics Secures Second Seed Funding for Cancer and Neuroscience Trials

Myosin Therapeutics, Inc., a biotechnology company based in Jupiter, Florida, has successfully concluded its second seed funding round, raising over $3 million. This investment supplements substantial support from the National Institutes of Health. The company is focused on developing innovative treatments for cancer and neurological disorders.

A primary focus for Myosin Therapeutics is the advancement of its leading compound, MT-125, aimed at treating glioblastoma. This form of brain cancer is notably aggressive, with patients facing an average survival period of merely eight months. MT-125 works by targeting a molecular nanomotor, effectively inhibiting both the growth and spread of tumors. Its potential was highlighted when the FDA granted it orphan drug designation for the treatment of malignant gliomas, emphasizing its promise in improving patient outcomes for this severe condition.

In addition to MT-125, Myosin Therapeutics is developing MT-110, designed to tackle methamphetamine use disorder (MUD). Despite millions of individuals suffering from MUD globally, there are currently no FDA-approved treatments available. The new funding, along with NIH backing, will facilitate the commencement of Phase 1 clinical trials for MT-110.

Dr. Courtney Miller, co-founder and CEO of Myosin Therapeutics, emphasized the importance of this financial milestone. She stated, "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." Expressing gratitude towards their investors, Dr. Miller acknowledged their support in the company's mission to provide groundbreaking therapies for cancer and substance use disorders.

The recent funding round saw participation from repeat investors such as DeepWork Capital, Florida Opportunity Fund, and Mint12 Pharma. New investors included Dynagrow Capital, the private investment management affiliate of Fred Hassan. Mayo Clinic Ventures and The Sontag Innovation Fund, which focuses on advancing brain cancer care standards, also contributed to the round. Dave Adams, co-founder of Mint12 Pharma, praised Myosin Therapeutics as an exemplary organization, consistently reaching critical milestones in advancing MT-125 and MT-110. He expressed confidence in the company's dedication to delivering innovative treatments for severe conditions, recognizing their potential to provide significant solutions to patients.

Myosin Therapeutics originated from The Herbert Wertheim UF Scripps Institute, previously known as Scripps Research, Florida. The company specializes in creating therapies for neuroscience and oncology, utilizing a platform that targets molecular nanomotor proteins.