Russia's Maxwell Biotech Venture Fund invests in Osteros Biomedica

Earlier this month, the investment committee of Maxwell Biotech Venture Fund (MBVF), founded with the participation of the Russian government’s RVC, approved the binding terms and the amount of an investment in a newly-established private Russian biotech company, Osteros Biomedica, formed for the development and commercialization of drugs for the treatment of cancer-induced bone disease.

Osteros Biomedica, part of the Russian biotech holding company, Maxwell Biotech Group, is preparing to conduct a proof-of-concept clinical trial program for its first drug candidate, MBC-11, which was discovered by its USA-based partner MBC Pharma. Osteros Biomedica is the first company in MBVF’s portfolio to have licensed the global rights to an innovative drug candidate of international origin. Extensive preclinical studies demonstrated in vivo efficacy of MBC-11 during daily administration after as little as one week’s treatment. Now Osteros Biomedica aims to conduct trials in Russia to test the new drug’s efficacy and safety in humans with multiple myeloma.

New business model for Maxwell Biotech