Myricx Bio Secures £90m Series A Funding to Progress NMTi-ADC Therapeutics into Clinical Trials

Myricx Bio, a UK-based biotechnology company specializing in novel antibody-drug conjugates (ADCs), has raised £90 million ($114 million) in a Series A financing round. The funding was co-led by Novo Holdings and Abingworth, with additional participation from British Patient Capital, Cancer Research Horizons, and Eli Lilly and Company. Founding investors Brandon Capital and Sofinnova Partners also contributed to the round.

The investment will support the development of Myricx Bio's proprietary N-Myristoyltransferase inhibitor (NMTi) ADC payload platform. This innovative technology aims to advance Myricx's pipeline of NMTi-ADCs through clinical proof of concept, targeting clinically validated tumour-associated antigens.

See also: The Rising Popularity of Antibody-Drug Conjugates, with Challenges

N-Myristoyltransferase (NMT) is an enzyme responsible for adding a lipid modification to several proteins critical for cancer cell survival. Myricx Bio's ADCs leverage this mechanism, showing promising preclinical efficacy and safety across various solid tumour-associated antigens and cancer cell types. The company's initial NMTi-ADCs have achieved tumour regressions in multiple solid cancer models, particularly those resistant to Topo1i-based ADCs. These NMTi-ADCs also exhibit potent bystander activity and high efficacy in patient-derived xenograft (PDX) organoid models, even across a broad spectrum of antigen expression levels.

Left to right - Myricx Bio co-founders Andrew Bell, Roberto Solari, Ed Tate and CEO Robin Carr

With the new funds, Myricx Bio plans to establish laboratory operations in London’s biotech hub and expand its management and R&D teams. Michael Bauer from Novo Holdings and Lucille Conroy from Abingworth will join Myricx Bio's Board of Directors to support the company's strategic growth.

Topics: Startups & Deals