Myricx Bio Secures $114M For Breakthrough Cancer Treatment Trials

Myricx Bio, a UK-based biotech firm specializing in the development of groundbreaking payloads for antibody-drug conjugates (ADCs), has successfully secured £90 million ($114 million) in its series A financing round. This round was co-led by Novo Holdings and Abingworth, two prominent life science investors. New participants included British Patient Capital (a subsidiary of the British Business Bank plc), Cancer Research Horizons, and Eli Lilly and Company, alongside founding investors Brandon Capital and Sofinnova Partners.

As part of the financing agreement, Michael Bauer of Novo Holdings and Lucille Conroy of Abingworth will join the Myricx Board of Directors. The newly acquired funds will support the expansion of Myricx’s proprietary N-Myristoyltransferase inhibitor (NMTi) ADC payload platform and further the development of its pipeline of NMTi-ADCs, targeting clinically validated tumour-associated antigens through clinical proof of concept.

NMT, an enzyme that adds a specific lipid modification to key protein targets essential for cancer cell survival, is at the core of Myricx’s innovative approach. Myricx is advancing a series of ADCs to meet significant unmet needs in oncology using its NMTi payload chemistry platform, which has shown remarkable preclinical efficacy and safety across various solid tumour-associated antigens and cancer cell types.

Initial studies have demonstrated that Myricx’s NMTi-ADCs achieve complete and durable tumour regressions at well-tolerated doses in several solid cancer models resistant to Topo1i-based ADCs. These NMTi-ADCs also exhibit potent bystander activity and deliver high efficacy in patient-derived xenograft (PDX) organoid models across a wide range of antigen expression levels.