Myricx Bio, a UK-based biotech firm specializing in novel payloads for antibody-drug conjugates (ADCs), recently concluded its series A financing round, securing £90m ($114m). This funding was co-led by Novo Holdings and Abingworth, alongside contributions from British Patient Capital, Cancer Research Horizons, Eli Lilly and Company, Brandon Capital, and Sofinnova Partners.
The investment will primarily bolster Myricx’s proprietary N-Myristoyltransferase inhibitor (NMTi) ADC platform. NMTi inhibits an enzyme crucial for cancer cell survival, presenting a promising avenue in oncology. Preclinical studies have demonstrated impressive efficacy and safety across various solid tumor types, surpassing current standard-of-care ADC classes like Topo1i-based therapies. Key advantages include complete tumor regressions at well-tolerated doses and potent bystander activity in patient-derived models.
Novo Holdings' Michael Bauer emphasized Myricx's innovative approach and potential to redefine ADC applications, reflecting their strategy to back impactful biotech innovations. Abingworth's Lucille Conroy underscored the compelling preclinical data validating Myricx's pioneering NMT inhibition platform.
Founded by Prof. Ed Tate, Dr. Roberto Solari, and Dr. Andrew Bell, Myricx shifted focus under CEO Dr. Robin Carr's leadership, pivoting from small molecule NMT inhibitors to ADC payloads. This strategic shift has positioned Myricx to expand from a virtual company to a fully-fledged R&D entity, establishing its own laboratories and expanding its team in London.
Dr. Carr expressed gratitude to founding investors Brandon Capital and Sofinnova Partners for their early support and welcomed new investors, highlighting Myricx's evolution into a clinical-stage company. Recent appointments of industry veterans like Chris Martin and Francesca Zammarchi strengthen Myricx's leadership, reinforcing its trajectory in the ADC space.
With robust funding and expanded capabilities, Myricx aims to advance its pipeline, leveraging its NMTi-ADC platform to address critical unmet needs in oncology. Positioned in London’s biotech hub, Myricx continues to attract top talent and drive innovation in ADC therapies, poised for significant growth and impact in cancer treatment.