JumpStart Inc. and Rev1 Ventures Announce Investment in Milo Biotechnology
Cleveland and Columbus Organizations Join Forces to Support Biotech Startup That Uses Gene Therapy to Fight Muscular Dystrophy
Cleveland & Columbus, OH, September 20, 2016 – Cleveland-based venture development organization, JumpStart Inc. and Columbus-based Rev1 Ventures, a top VC investor in the Great Lakes region, have joined together to announce their new investments in Milo Biotechnology, a startup working to reverse Muscular Dystrophy using gene therapy. The specific terms of the investments are not being released publicly, but they come from JumpStart’s Evergreen Fund and Rev1’s Catalyst Fund, respectively.
“Our follistatin gene therapy has already demonstrated initial safety and efficacy in both Becker muscular dystrophy and sporadic inclusion body myositis, two severe, debilitating muscle wasting conditions,” said Milo’s co-Founder and CEO Al Hawkins. “These funds from Rev1 and JumpStart will now enable us to prepare for multi-center pivotal clinical trials, which could begin in late 2017.”
Founded in 2012, Milo Biotechnology is headquartered in Cleveland, with technology and clinical expertise that originates out of Columbus’ Nationwide Children’s Hospital. The company’s unique gene-therapy program uses a version of the protein follistatin to treat the muscle atrophy commonly associated with muscular dystrophies.
JumpStart and Rev1 are both leaders in the region, who are dedicated to fueling startup growth in Ohio. Both companies are partners of the Ohio Third Frontier’s Entrepreneurial Signature Program (ESP), which provides entrepreneurs with private and public funding as well as assistance they need to grow their technology-based startup companies.
“Milo Biotechnology is a perfect example of a startup that is headquartered locally but thinks bigger than one specific city or region,” said JumpStart CEO Ray Leach. “With this in mind, it’s only natural for JumpStart and Rev1 to do the same. That’s why we’re working across our respective territories to help this company succeed any way we can.”
“We’re committed to helping great entrepreneurs with great ideas master the critical first phases of growth to ensure they are building sustainable, successful businesses,” said Tom Walker, CEO of Rev1 Ventures. “By partnering with innovators in the region, like Nationwide Children’s Hospital and JumpStart, we are able to help companies like Milo bring these breakthrough technologies to market. Milo is truly transforming the way Muscular Dystrophy is treated and with an impressive team at its helm, the company is poised for an impressive road ahead.”
To learn more about Rev1’s investment activity, visit www.rev1ventures.com/investments.
To learn more about JumpStart’s various funding vehicles, visit www.jumpstartinc.org/funding/investments.
JUMPSTART INC. unlocks the full potential of diverse and ambitious entrepreneurs to economically transform entire communities. For more information, visit www.jumpstartinc.org and follow @JumpStartInc on Twitter.
REV1 VENTURES helps entrepreneurs build great companies. Rev1’s seasoned, data-driven team delivers early market validation for startups, helping them lay the foundation for scalable growth with the skills to evolve their product, sell to customers, and build the right team. For more information, visit https://www.rev1ventures.com and follow @Rev1Ventures on Twitter.
MILO BIOTECHNOLOGY is a clinical stage company developing therapies to strengthen muscle and improve the lives of patients with neuromuscular diseases. For more information, visit www.milobiotechnology.com.