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Myricx Bio raises GBP 90 million in Series A funding to develop ADC platform and progress NMTi-ADC pipeline
Precision Medicine
Jul 8, 2024
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Precision Medicine

Precision Medicine

Jul 8, 2024

Myricx Bio raises GBP 90 million in Series A funding to develop ADC platform and progress NMTi-ADC pipeline

Funding

  • Myricx Bio has secured USD GBP 90 million (~USD 115.3 million) in a Series A funding round led jointly by Novo Holdings and Abingworth, with participation from Eli Lilly, Cancer Research Horizons, British Patient Capital, Sofinnova Partners, and Brandon Capital.

  • The funds are planned to be directed toward expanding Myricx’s proprietary N-Myristoyltransferase inhibitor (NMTi) antibody-drug conjugate (ADC) payload platform and progressing its pipeline of NMTi-ADCs to the proof-of-concept stage. 

  • UK-based Myricx Bio specializes in discovering and developing a novel class of selective cytotoxic payloads for antibody-drug conjugates (ADCs). The company's proprietary ADCs are claimed to have shown preclinical efficacy and safety across various solid tumor-associated antigens and specific cancer cell types. Myricx Bio is currently focused on developing and refining its NMTi ADC platform to progress its operations into the clinical stage.

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