11:55 AM EDT, 03/25/2026 (MT Newswires) -- Marvel Biosciences ( MBCOF ) on Wednesday said selected Novotech as the contract research organization (CRO) for its upcoming Phase I study for its lead drug candidate MB-204 in Australia.

MB-204 is being developed for neurodevelopmental disorders such as Rett syndrome and Fragile X with the potential to treat autism spectrum disorder and depression, a statement said.

Novotech is an internationally recognized full service CRO based in Australia.

"Australia is an attractive place to conduct first-in-man studies owing to their favourable regulatory environment and tax credits exceeding 40% of the costs incurred there," said Marvel chief scientific officer Mark Williams.

Marvel shares are up $0.005 to $0.15 on the TSX Venture Exchange.

Price: 0.15, Change: +0.01, Percent Change: +3.45