Canadian life science fund AmorChem has announced the launch of MyX Therapeutics, which will focus on development of drugs formulated with MyX-001 mucoadhesive nanoparticle delivery platform, with a $450,000 seed investment. MyX-001 is based on technology developed by Frank Gu, Lyndon Jones, and Sandy Liu of the University of Waterloo.
Gregory L. White will serve as President and CEO. White oversaw development of an intranasal delivery platform in one of his previous roles as VP of Product Development at Intellivax (ID-Biomedical). MyX has named Gu as Chief Scientific Officer and Liu as Senior Scientist.
According to the MyX Therapeutics web site, two intranasal candidates formulated with MyX-101 are in proof of concept studies: a cannabis extract for the treatment of epilepsy, and an undisclosed API for the treatment of erectile disfunction.
White commented, “MyX-001 is a platform uniquely designed to provide market differentiation to numerous highly effective generic API drugs by allowing increase compliance with the potential for 1x/day or 2x/week dosing, while providing hydration and lubrication to localize mucosal tissue. Additionally, MyX-001 may allow for an increase safety threshold for enabling new drugs or establish drug’s profile, as it has been shown in our initial animal models that significantly less drug may necessary to obtain the same efficacious results.”
Read the AmorChem press release.
