In a joint funding venture by German and Russian entities, Hepatera, a Russian pharmaceutical start up that makes liver treatment and disease prevention drugs, as well as its partner, German company MYR, have received funding from top German VC firm High-Tech Gründerfonds, as well as Russian Venture Capital (via its Maxwell Biotech Venture Fund). The investment will go towards expenses for the clinical trial phase that the research is entering at the moment. This is High-Tech Gründerfonds’s second investment in MYR, the first one being a EUR 0.5 mln fund towards its first phase of clinical testing.
Hepatera was founded in September of 2011, and is currently developing Myrcludex B, whose product rights are held by MYR, with which it works closely. The drug is intended for the treatment of Hepatitis B and D. As of December 2011, Hepatara moved in as a cluster member at the Skolkovo Innovation Center with other Biomedical companies. MYR, founded in 2010 by Dr. Alexander Alexandrov, holds the global product rights to Myrcludex B.