The Fort Worth Press - MAX BioPharma and Technomark Life Sciences Announce Investment and Partnership Agreement in Developing Oxysterol-Based Drug Candidate for MASH

"We are extremely excited about forming this important collaboration that will empower MAX BioPharma in its efforts to develop a safe, effective, orally bioavailable, novel therapy, derived from our Oxysterol Therapeutics® platform, for targeting MASH. We anticipate that through its potent antifibrotic and anti-inflammatory properties, Oxy210 will have a robust impact on the more effective management of those suffering from MASH, and most likely its more advanced form that involves liver scarring (cirrhosis). Forming a strategic partnership with Technomark serves as a significant milestone, and we invite other investors to join us and complete this Series A raise" says Farhad Parhami, President and CEO of MAX BioPharma. Frank Stappenbeck, Director of Chemistry at MAX BioPharma adds: "There is a need for safe and cost-effective treatment options for MASH, not only in the US, but worldwide. Compared to existing drugs and drug candidates for MASH, Oxy210 can be scaled at low cost using inexpensive materials via straightforward chemical synthesis. And, as a small molecule stable at room temperature, Oxy210 would not need a cold supply chain, as required for peptide-based GLP-1 agonists, for example."

Dr. Scott Friedman, Professor of Medicine and Director of Institute for Liver Research at the Icahn School of Medicine at Mount Sinai explains: "By hitting several of the core disease drivers at once, i.e. inflammation, fibrosis, senescence, and metabolic dysfunction with oral dosing and clean preclinical data thus far, Oxy210 can have a meaningful impact on MASH. If these preclinical findings translate into humans, Oxy210 has the profile of a novel, disease‑modifying agent that could be used alone or in combination with metabolic agents (e.g., GLP‑1 agonists) to target both liver fibrosis and cardiometabolic vulnerabilities".

Allen Hakimi, CEO and Managing Director of Technomark states: "We are enthusiastic about our collaboration with MAX BioPharma and the value that we can add to its already impressive therapeutic development program by providing our decades long experience in navigating the often complex tasks in drug development, to bring a much-needed therapy for people with MASH, while creating maximum value for stakeholders."

About MAX BioPharma

MAX BioPharma is a privately held preclinical stage California-based biopharmaceutical company developing novel small molecule lipids as drug candidates for intervention in debilitating and fatal human diseases. The company will be a leader in a new field of Oxysterol Therapeutics® by leveraging a robust and growing intellectual property portfolio that will lead to treatments for numerous indications. With many potential opportunities in its pipeline, MAX BioPharma is focused on the development of its lead asset, Oxy210, an orally bioavailable antifibrotic and anti-inflammatory proprietary oxysterol for targeting MASH and other fibrotic diseases. The company is currently raising a $13M tranche Series A financing while searching for strategic partners to move Oxy210 through Phase 1 clinical trials for MASH. For more information, please visit us at www.maxbiopharma.com

About Technomark Lifesciences

Technomark Life Sciences is a 38 year old venture capital group. Technomark contributes by cofunding/investing in the cost of the development program (clinical study or GLP Tox study costs) on a risk sharing basis (30-60%). Technomark's investment track record includes the $1 billion BioVex Limited exit to Amgen (2011) and achieving a 68% success rate on clinical programs in which it has invested over a 38-year period. We are excited to welcome MAX BioPharma into our growing family of breakthrough innovators. For more information, please visit us at www.technomarkls.com)

Media Contacts:

Farhad Parhami
[email protected]

Allen Hakimi
[email protected]

SOURCE: MAX BioPharma, Inc.

View the original press release on ACCESS Newswire

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