a year ago

Myricx Bio Secures £90 Million Series A to Advance Cancer-Fighting ADC Technology

  • Myricx Bio, a UK-based biotech company, has raised £90 million ($114 million) in Series A funding led by Novo Holdings and Abingworth

  • The company develops novel payloads for antibody-drug conjugates (ADCs) based on inhibitors of N-myristoyltransferases (NMT) for cancer treatment

  • The funds will be used to advance its pipeline of NMTi ADCs through clinical proof of concept, targeting clinically validated tumor-associated antigens and addressing unmet needs in oncology.

      • ProblemHealthcare

      "Current cancer treatments, like antibody-drug conjugates (ADCs), often rely on two main types of payloads (microtubule and topoisomerase inhibitors). This leads to patients developing resistance and needing more effective, diverse treatment options."

      Solution

      "Myricx Bio has developed a new class of payloads for ADCs based on N-myristoyltransferase (NMT) inhibitors. These inhibitors target a specific enzyme essential for cancer cell survival, offering a novel mechanism of action and potentially overcoming existing resistance issues. They have shown promising results in pre-clinical studies, achieving complete and lasting tumor regression in various cancer models."

      Covered on