Marvel Biosciences Corp. (OTC: MBCOF) announced it has secured financial and strategic support from 5 Horizons Ventures for its upcoming Phase I clinical trial of drug candidate MB-204.

Under the partnership terms, 5 Horizons Ventures will contribute funding equivalent to 15% of the company's contract research organization costs associated with the Phase I trial. The support is structured as non-dilutive funding designed to reduce upfront capital requirements.

The Phase I trial is expected to commence in the second quarter of 2026 and will evaluate the safety, tolerability, and pharmacokinetics of MB-204 in healthy subjects. Marvel will develop the program in collaboration with contract research organization partner Novotech.

MB-204 is described as a fluorinated derivative of an FDA-approved adenosine A2A receptor antagonist. The company states the compound has demonstrated preclinical efficacy across central nervous system indications, including autism spectrum disorder, Rett syndrome, and Fragile X syndrome.

"We've been conducting due diligence with the Marvel team over the past year, and we're excited to provide an investment for the Phase 1 trial of MB-204," said Aaron Ray, Managing Partner of 5 Horizons Ventures.

Marvel CEO Rod Matheson said the partnership represents validation of the company's clinical and commercial strategy while strengthening capital efficiency.

The company has previously received non-dilutive funding support from the National Research Council of Canada Industrial Research Assistance Program and Alberta Innovates CarE. Marvel has also been granted patents in the United States and Japan.

Marvel plans to pursue orphan drug designation with the U.S. Food and Drug Administration and advance into Phase II/III studies in rare disease indications following Phase I completion.