On July 8, 2024, the UK biotechnology company Myricx Bio announced the completion of its Series A financing, raising $114 million. This round of financing was co-led by Novo Holdings and Abingworth, and included other new investors such as British Patient Capital, Cancer Research Horizons, and Eli Lilly and Company, as well as founding investors Brandon Capital and Sofinnova Partners. Novo Holdings is the investment arm of the Novo Nordisk Foundation, and Eli Lilly and Company is a globally renowned pharmaceutical company.
Myricx Bio focuses on developing a novel N-Myristoyltransferase inhibitor (NMTi) as a payload for antibody-drug conjugates (ADCs). NMTi is a new type of ADC payload capable of specifically lipid-modifying key protein targets essential for the survival of cancer cells, thereby inhibiting the growth of cancer cells. Myricx has demonstrated that its NMTi-ADC has achieved complete and durable tumor regression in various solid cancer models and has shown strong bystander activity.
The team of Myricx was founded by Professor Ed Tate, Dr. Roberto Solari, and Dr. Andrew Bell, and has been joined by several professionals with rich experience in the field of ADCs, such as Dr. Robin Carr and Dr. Francesca Zammarchi. The company’s R&D pipeline includes four products, among which MYX2449 is an HER2-targeting ADC that has shown high efficacy and tolerability in preclinical studies.
The financing and R&D progress of Myricx demonstrate the attention and investment of large pharmaceutical companies such as Novo Nordisk and Eli Lilly in the new type of ADC payload technology, which may herald a new direction in the field of tumor treatment in the future.
DrugTimes Pipeline (Loongline) has a promising NMTi product in need of cooperation, with flexible cooperation forms.
If your company is interested in the new NMTi payload, please contact DrugTimes BD team as soon as possible!
Please indicate the project code: BP-20240722-OR-76
We will discuss in detail with you. Thank you!
Contact person: Richard
Phone: 17821449819
WeChat: DrugTimes_BD
Email: BD@drugtimes.cn
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