Calgary, Alberta--(Newsfile Corp. - November 21, 2024) - Marvel Biosciences Corp. (TSXV: MRVL) (OTCQB: MBCOF), and its wholly owned subsidiary, Marvel Biotechnology Inc. (collectively the “Company” or “Marvel”), today is pleased to announce it has been awarded the Alberta Innovates AICE Validates grant, securing $300,000 in funding to support the preclinical validation of MB204 as a treatment for Alzheimer’s disease. This funding represents a significant step forward for Marvel, providing the resources and recognition needed to advance toward clinical trials.
Alzheimer’s disease is a devastating and widespread form of dementia, affecting 1 in 10 Canadians over 65 and nearly 50,000 Albertans. Current therapies fall short, offering limited relief by targeting symptoms rather than the underlying disease. Patients face a severe reduction in quality of life and life expectancy, highlighting the urgent need for therapies that address the root causes of the disease.
MB204, a novel adenosine A2A receptor antagonist discovered by Marvel Biosciences’ Dr. Mark Williams, is designed to go beyond managing symptoms. Targeting the A2a receptor has demonstrated potential in multiple preclinical studies in both amyloid and Tau models to target the underlying pathology of Alzheimer’s disease.
Marvel will undertake a chronic long-term preclinical study to further validate MB204’s effectiveness. The objectives of the study include demonstrating improvements in cognitive function using a well-established Alzheimer’s disease model, quantifying biomarkers associated with disease pathology, and examining how MB204 impacts key mechanisms underlying the disease. This will serve as the final step in preclinical validation, paving the way for Phase 1 clinical trials.
Marvel is preparing to move MB204 to clinic, having completed cGMP synthesis and 4-week GLP toxicology studies The goal is to develop a treatment that not only addresses cognitive symptoms such as depression, anxiety, and social withdrawal but also combats the neurological changes driving the disease.
“This grant is a major milestone for us,” said a CEO Rod Matheson. “It shows the promise of our technology while providing the funding to complete critical work. We’re excited to make MB204 a success story for Alberta.”
About Marvel Biosciences Corp.
Marvel Biosciences Corp., and its wholly owned subsidiary, Marvel Biotechnology Inc., is a Calgary-based pre-clinical stage pharmaceutical development biotechnology company that utilizes a “drug redevelopment” approach to drug development. Historically, when a new class of drug is developed, it is optimized for a particular target, but typically only approved for a specific disease. Often, a new disease is identified which involves the same target, however, pending the remaining patent life, the originally approved drug may not have sufficient time left for it to be commercially viable to be developed for the new disease indication. Marvel develops new synthetic chemical derivatives of the original approved drug for the new disease indication. Patent protection is sought, as the new potential asset is developed by the Company. The Company believes the business model results in significantly less risk, cost and time to develop its assets compared to traditional biotechnology companies.
Marvel Biotechnology Inc. has currently developed several new chemical entities, using synthetic chemical derivatives of known, off-patent drugs, that inhibit the A2a adenosine receptor with application to neurological diseases (depression & anxiety, Alzheimer’s, ADHD), and the non-neurological conditions of cancer and non-alcoholic steatohepatitis. Marvel is also exploring additional undisclosed targets to expand its asset pipeline.
Contact Information
Marvel Biosciences Corp.
J. Roderick (Rod) Matheson, Chief Executive Officer or
Dr. Mark Williams, President and Chief Science Officer
Tel: 403 770 2469
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All information contained in this news release with respect to the Company and its subsidiary, (collectively, the “Parties”) were supplied by Marvel, respectively, for inclusion herein and each parties’ directors and officers have relied on each other for any information concerning such Party.
This news release may contain forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the expectations of the Company and include other risks detailed from time to time in the filings made by the Company under securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that the above events on the terms will occur and within the time disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
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