Maxwell Biotech has come to a decision to invest in an innovative drug for treatment of dislipidemy and preventive treatment of atherosclerosis

On November 17th, the investment committee of Maxwell Biotech Venture Fund created with the participation of RVC approved the essential terms and conditions including the amount of investments into CardioNova, Ltd, which goal is to develop and introduce to the Russian market innovative drugs for prevention and treatment of cardiovascular diseases. The first drug of CardioNova aimed at treatment of dislipidemy and preventive treatment of atherosclerosis is being developed in close cooperation with an American public biotech company AtheroNova, Inс (OTC: AHRO).

Cardiovascular diseases remain the biggest cause of deaths worldwide. One of the main factors for cardiovascular pathologies progression is dislipidemy (increase in cholesterin level) that results in vessel arterial sclerotic disease. As a result, the risk for such acute ischemic conditions as myocardial infarction, apoplectic attack, as well as limb ischemia, increases considerably. Experts forecast that by year 2020 a number of people, dying from cardiovascular diseases, will reach 25 million per year. In Russia, annually over 1 million people die from diseases related to vessel arterial sclerotic disease, and about 400 thousand become invalid. Thus, the prevalence rate of such disease type represents not only serious medical but social and economic problem as well.

Dmitry Popov, Managing Partner of Maxwell Biotech Venture Fund, believes that “the new project successfully complements the existing fund’s project line, aiming at solution of the most important problem of the present day healthcare”.

”The results of the preclinical efficiency research in animal models conducted in the leading world laboratories for studying arterial sclerotic disease problems seem to us very encouraging and we are happy to cooperate with AtheroNova team in further development of this highly promising drug”, — Dmitry Popov said.

The designed formula (AHRO-001) represents a low-molecular substance of C24 cholic acid family. Thanks to its physic-chemical parameters, the expected drug will be able to reduce significantly the cholesterin level in blood, as well as potentially reduce the size of atherosclerosis plaques.

This year, AHRO-001 has successfully completed the series preclinical trials in the California University and Cedars-Sinai Medical Center in Los-Angeles, as well as in the Cleveland clinic. The experiments confirmed the high efficiency of the drug; and in addition showed a significant reduction in the size of atherosclerosis plaques (up to 95%). According to experts, nowadays this therapeutic effect is inaccessible by any of the substance classes used for treatment of dislipidemy and preventive treatment of atherosclerosis.

Yan Ryazantsev, Director of the Department for investments and expert examination of RVC, noted: “This is not the first project in Maxwell Biotech Venture Fund portfolio, being developed in close cooperation with one of the foreign biotech companies, specializing in creation and introduction of innovative drugs to the market. Such cooperation, on the one part, reduces the fund’s risks, as the partner company’s team works according to the international standards of the pharmaceutical industry. The first results on preclinical efficiency have already been obtained, meeting all requirements of the international regulators, and we have based ourselves thereon in the decision-making process. It is also very importance that the process of further development and promotion of this drug by the Russian team will be led in close cooperation with AtheroNova experts that will allow our team build up muscles in the sphere of product development and commercialization on the global market. This aspect is also very important to us”.

 

 

Anna Zelenkova,
PR director with Maxwell Biotech Group;
Tel.: +7 (495) 411-6992
E-mail: zelenkova@maxwellbiotech.ru

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