KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--Merganser Biotech Inc., a venture-backed, clinical-stage company, today announced that dosing has been initiated in the first clinical trial of M012, the company’s lead development compound. M012 is being developed as a potentially transformative therapy for rare hematological and iron overload diseases, including beta thalassemia and certain subtypes of myelodysplasia (MDS).
“Beta thalassemia is a devastating disease that affects children and adults throughout the world. Our goal at Merganser is to develop novel medicines to safely improve health outcomes for people suffering from this disease,” stated Dr. Brian MacDonald, CEO of Merganser Biotech. “The initiation of clinical trials with M012 represents an important step towards this goal.”
About Hepcidin Mimetic Peptides
Hepcidin mimetic peptides were discovered by Professors Tomas Ganz and Elizabeta Nemeth at the University of California, Los Angeles, two of the leading researchers in the field of iron metabolism and hepcidin biology. In their studies, hepcidin mimetics were shown to be capable of replicating the biological effects of hepcidin and to be effective in controlling iron overload in animal models.
About Merganser Biotech
Merganser Biotech Inc. is a venture-backed, clinical-stage company developing a portfolio of hepcidin mimetic peptides as potential new medicines for the treatment of rare hematological and iron overload diseases. In 2013, the company obtained an exclusive worldwide license to patent rights for this technology from the Regents of the University of California. In February, 2015 the company closed a $28 million Series A financing from a syndicate of life sciences investors that includes the Novartis Venture Fund, Frazier Healthcare Partners, Sutter Hill Ventures and Osage University Partners.