Mabylon AG Secures CHF 30 Million for MY006 Development Push
Mabylon AG Secures CHF 30 Million for MY006 Development
Mabylon AG, a leader in antibody development, has successfully raised CHF 30 million to propel its clinical-stage lead program MY006 aimed at peanut allergies. This funding marks a significant step forward for the company, highlighting the growing emphasis on innovative allergy treatments.
Funding Overview
The substantial capital raised comprises both equity investment and a convertible loan. With CHF 15 million coming from existing investors, notable contributions were made by former executives and board members of Roche, showcasing robust support for Mabylon's mission.
Advancements in Peanut Allergy Treatment
MY006 represents a breakthrough in allergy therapies, designed as a tri-specific antibody that neutralizes peanut allergens. This funding will assist in completing a Phase Ia/b trial, with expectations to establish safety and efficacy data that could transform how peanut allergies are treated. The trial aims to conclude in 2027, but preparations and developments are already underway.
Exploring Further Discoveries
In addition to MY006, contributions from the funding will bolster Mabylon's pipeline, which includes MY010. This candidate targets various birch pollen allergens and addresses cross-reactivity issues often faced by allergy sufferers. Furthermore, development of MY011 is set to move forward, focusing on treating grass pollen allergies.
Board Changes and Leadership Insights
During the recent shareholders' meeting, Dr. Thomas Hecht was appointed to Mabylon's Board of Directors. He replaces Prof. Adriano Aguzzi, whose contributions laid a solid foundation for the company's future endeavors. The new board member brings vital expertise that could enhance Mabylon's strategic direction.
Statements from the Leadership Team
Mabylon's Chairman, Gottlieb Keller, expressed enthusiasm about the funding's potential, stating that it would accelerate the clinical evaluation of MY006 and the company's broader objectives. CEO Alcide Barberis emphasized the importance of this financing, admitting the challenges in the current financial climate but affirming their approach to treat allergies with human-derived antibodies.
About Mabylon AG
Mabylon AG is an innovative Swiss biotechnology firm harnessing human antibodies' therapeutic potential for treating allergies, neurodegenerative diseases, and inflammation. By using antibodies derived from allergic patients, Mabylon is pioneering new understanding of allergens and their effects on health.
Contact Information
For further inquiries, please contact:
Alcide Barberis, CEO
Mabylon AG
Wagistrasse 14
8952 Schlieren
Frequently Asked Questions
1. What is the focus of Mabylon AG's recent funding?
The funding is focused on advancing its lead program MY006 aimed at peanut allergies, along with supporting early-stage research.
2. Who are the key investors in Mabylon's funding round?
The notable investors include former management and board members from Roche, demonstrating confidence in Mabylon's vision.
3. What are MY006 and its significance?
MY006 is a tri-specific antibody targeting peanut allergens, aiming to set new standards in allergy treatment.
4. What additional programs are supported by the new funds?
Funds will also support MY010, targeting birch pollen allergens, and MY011 for grass pollen allergies.
5. Who joined the Board of Directors recently at Mabylon?
Dr. Thomas Hecht has recently been elected to the Board to enhance governance and strategic growth.
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