Myricx Bio Raises $115M in Series A to Advance ADC With Lilly and Novo Backing

CAR-T Digest - August 2020

08 July 2024: Myricx Bio Raises $115M in Series A to Advance ADC With Lilly and Novo Backing

Myricx Bio secured a £90 million Series A investment round to enhance its antibody-drug conjugate platform and advance its pipeline into clinical trials
The funding round was co-led by Novo Holdings and Abingworth, with participation from Eli Lilly, Cancer Research Horizons, and British Patient Capital, among others
Funds will be used to develop their proprietary N-Myristoyltransferase inhibitor (NMTi) antibody-drug conjugate platform and move NMTi-ADCs through proof-of-concept studies
Myricx Bio aims to become a fully-fledged R&D company with expanded capabilities, including in-house laboratories and an expanded management team
The company’s initial focus is on developing ADCs targeting cancer-associated antigens B7-H3 and HER2, with promising preclinical efficacy and safety results reported