US health authorities to provide USD 6 million in funding for MYELO radiation protection pill

Berlin-based MYELO Therapeutics, an affiliated company of Eckert & Ziegler Strahlen- und Medizintechnik AG, will receive USD 6 million from the National Institutes of Health (NIH) over the next three years for the further development of its radiation protection pill MYELO001. The company is one of the few European applicants to successfully compete for funds from the relatively generous US catastrophe prevention program.

The money will be used to finance further tests and proof of concept and to investigate the functional mechanism of the new orally applicable drug. If the multi-year trials are successful, MYELO has the opportunity to win valuable contracts from civil protection agencies in America and elsewhere to build up emergency stocks.

"MYELO Therapeutics is one of a series of strategic investments that Eckert & Ziegler is using to push its growth into new dimensions in the mid term," explained Dr. Andreas Eckert, CEO of the TecDAX company Eckert & Ziegler. "The Executive Board has been able to continuously increase the financial resources for this purpose over the past few years. Although it would still be years too early to make concrete statements on sales or earnings potential, the award of the contract by the American health authorities shows that Eckert & Ziegler is on the right track when it comes to selecting its financing projects".

For details of the radiation protection pill and the funding commitment of the American health authorities, see the detailed press release of MYELO Therapeutics: http://www.myelotherapeutics.com/news.html