PharmaCyte Biotech Invests $7 Million in MyMD Focusing on Inflammatory Disease

PharmaCyte Biotech, formerly Nuvilex, Inc. (Nasdaq: PMCB), has announced a strategic investment of $7 million in MyMD Pharmaceuticals, Inc. (Nasdaq: MYMD). MyMD is a clinical-stage biopharmaceutical firm focused on developing innovative treatments for age-related diseases, autoimmune disorders, and inflammatory conditions. This investment marks PharmaCyte’s second external investment in the life sciences sector, reinforcing its strategy of leveraging its substantial cash reserves to generate additional value for its shareholders.

MyMD has recently reported positive results from a Phase 2 clinical trial involving its lead product, MYMD-1, which targets sarcopenia, a condition characterized by the loss of muscle mass and function in aging individuals. The company is now advancing its clinical program in collaboration with the U.S. Food and Drug Administration (FDA). PharmaCyte’s decision to invest in MyMD’s technology aligns with its strategy to utilize its cash position, approximately $65 million as of March 31, 2024, to support innovative and promising biomedical technologies.

Chris Chapman, M.D., the president and chief medical officer of MyMD, emphasized the significance of this investment at a crucial juncture for MyMD. With the positive Phase 2 trial results for MYMD-1, MyMD is gearing up to further its clinical studies. Dr. Chapman expressed optimism about potential collaborations with PharmaCyte, noting that PharmaCyte’s management and board bring vast experience in the biotechnology sector. He believes this strategic investment will provide valuable insights as MyMD continues to develop its technology.

Dr. Michael Abecassis, a board member of PharmaCyte, highlighted that the investment in MyMD underscores PharmaCyte’s commitment to its corporate strategy. This strategy involves identifying and investing in significant external opportunities that can generate value through financial investment and PharmaCyte’s expertise. He remarked that MyMD’s novel approach to managing inflammation addresses substantial unmet medical needs. Dr. Abecassis is optimistic about contributing to MyMD’s progress and looks forward to further collaboration. He also indicated that PharmaCyte intends to explore additional opportunities that could deliver substantial value to PharmaCyte and its shareholders.

MyMD Pharmaceuticals, Inc. specializes in developing therapies aimed at extending healthy lifespan. The company is working on two innovative therapeutic platforms that target the underlying causes of diseases rather than merely alleviating symptoms. MYMD-1, MyMD’s leading drug platform, is a small molecule in the clinical stage that modulates the immune system to regulate TNF-α, a key driver of chronic inflammation, and other pro-inflammatory cytokines. MYMD-1 aims to delay aging, enhance longevity, and treat autoimmune diseases. The second platform, Supera-CBD, is being developed to address chronic pain, addiction, and epilepsy. Supera-CBD is a novel synthetic derivative of cannabidiol (CBD) and aims to improve upon existing CBD products, both FDA-approved and those not currently regulated as drugs.

PharmaCyte Biotech is a biotechnology company evaluating its proprietary live-cell encapsulation technology, Cell-in-a-Box®. This technology involves encapsulating genetically modified human cells to potentially develop cellular therapies for cancer, diabetes, and malignant ascites. PharmaCyte is also exploring additional strategic acquisitions. The Cell-in-a-Box technology is primarily being investigated for its applications in treating cancer, particularly pancreatic cancer, Type 1 and insulin-dependent Type 2 diabetes, and malignant ascites. However, pending a review by the Business Review Committee and the Board, PharmaCyte has temporarily reduced spending on these programs.

Overall, PharmaCyte’s investment in MyMD signifies a strategic move to support groundbreaking biopharmaceutical advancements while aiming to enhance shareholder value through prudent financial management and expertise in the biotechnology industry.