Calgary-based Marvel Biosciences Corp. (TSXV: MRVL | OTC: MBCOF) secured non-dilutive funding support from 5 Horizons Ventures to fund its Phase I clinical trial of lead candidate MB-204, a fluorinated adenosine A2A receptor antagonist targeting autism spectrum disorder and related neurodevelopmental conditions. The arrangement covers 15% of the company's contract research organization costs associated with the trial, which is expected to commence in Q2 2026.
5 Horizons Ventures will serve as both a capital contributor and strategic partner during the trial. The funding supplements earlier non-dilutive support Marvel received from the National Research Council of Canada Industrial Research Assistance Program and Alberta Innovates CarE.
The Phase I trial will be conducted in collaboration with Novotech as contract research organization and will evaluate the safety, tolerability, and pharmacokinetics of MB-204 in healthy subjects. Following Phase I, the company said it intends to advance into Phase II/III studies in rare disease indications. Marvel is also pursuing orphan drug designation with the US FDA for MB-204.
MB-204 is a novel fluorinated derivative of istradefylline, a US FDA-approved adenosine A2A receptor antagonist used in Parkinson's disease and the only approved agent in its class. The company's development model centers on taking approved compounds with validated mechanisms and modifying their chemical structure through fluorination — a technique used to improve metabolic stability, receptor binding, and central nervous system penetration. Marvel said preclinical studies have shown MB-204 improved social and behavioral deficits in animal models of autism and, on certain endpoints, outperformed the only currently approved therapy for Rett syndrome.
The A2A receptor sits at a convergence point of dopaminergic and glutamatergic neurotransmission, and blocking it is hypothesized to rebalance signaling pathways implicated across a range of neuropsychiatric and neurodevelopmental conditions. MB-204's target indications include autism spectrum disorder, Rett syndrome, Fragile X syndrome, and depression. The company has been granted patents for MB-204 in the US and Japan, the company said.
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