Myr, a Germany-based company developing treatments for hepatitis B and D, has raised €7.9m ($10m) from Germany-based, corporate-backed venture firm High-Tech Gruenderfonds (HTGF) and Maxwell Biotech Venture Fund (MBVF).
The investment by HTGF and MBVF, a $100m fund sponsored in part by the Russian government, follows a €500,000 investment by HTGF in 2011. Myr will use the funds to further develop Myrcludex B, a drug for the treatment of hepatitis B and D virus infections.
Myr has been in partnership with Russia-based peer Hepatera, founded in September 2011 as a biotechnology holding of Maxwell Biotech Group’s MBVF, and since December that year has been a resident of the Biomedical Cluster Innovation Center in Skolkovo, outside Moscow.
In early 2012, Maxwell and HTGF formalised a partnership to co-invest in the company.
Editor’s note: A version of this article was first published by sister title Global Government Venturing.