Date: Apr 02, 2013 Author: Pharmacy Choice Source: Press Release (
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Just a year out of the gate and with less than $1 million in funding, Milo Biotechnology LLC already has an FDA-sanctioned investigational new drug (IND) application and is in human trials with follistatin, a protein that increases muscle strength and prevents atrophy. Follistatin functions primarily by blocking the protein myostatin, which reduces muscle strength, resulting in increased muscle cell size and improved recovery following muscle injury.
The company's follistatin-based therapy was developed at and is exclusively licensed from Nationwide Children's Hospital, the children's teaching hospital of Ohio State University, whose gene therapy center specializes in developing therapies for muscular dystrophy (MD) the initial indication for AAV1-FS344, so far Milo's only candidate.
The technology uses a gene vector to deliver the myostatin inhibitor without up-regulating or down-regulating a specific gene, explained Al Hawkins, founding CEO of the Cleveland-based company.
Hawkins was a CEO-in-residence at Cleveland-based BioEnterprise, a bioscience economic development agency, and searching for "the best unpartnered program in muscular dystrophy" when he was introduced to the follistatin research, then in IND-enabling studies.
"It seemed like a great opportunity to form a start-up around the technology," he told BioWorld Today. In preclinical studies in rodents and primates, follistatin appeared to enhance muscle strength in any state, from healthy muscles to MD to age-related wasting. In addition to immediate applications in orphan diseases, follistatin offered wider market potential in other conditions involving muscle strength.
The FDA approved the IND in October 2011. In January 2012, the company, whose name reflects the superhuman strength of legendary Greek wrestler Milo of Croton, was launched with a $250,000 seed grant from nonprofit business accelerator JumpStart Inc. Milo also attracted funding from the Cuyahoga County North Coast Opportunities Fund.
Story excerpt provided by Pharmacy Choice
