📢 Novo Holdings A/S and Abingworth have co-led a £90m financing round in Myricx Bio Ltd, a cancer ADC specialist. 🤝 The funding will be used to expand Myricx Bio’s ADC platform and advance its pipeline through clinical proof of concept. 💰 Other investors include British Patient Capital and Eli Lilly & Company. ✅ Novo Holdings Venture Investments Partner Michael Bauer will join Myricx Bio’s Board of Directors.
📢 Massive £90m Investment Fuels Cancer Breakthrough
Introduction:
Danish Novo Holdings A/S and Abingworth have co-led a £90m financing round in cancer ADC specialist Myricx Bio Ltd. The funding will be used to build out Myricx Bio’s ADC platform and advance its pipeline through clinical proof of concept.
Main points:
- Novo Holdings and Abingworth co-led a £90m financing round in Myricx Bio Ltd.
- The funding will be used to build out Myricx Bio’s ADC platform and advance its pipeline through clinical proof of concept.
- Myricx Bio focuses on the discovery and development of novel payload class for cancer-targeted antibody-drug conjugates (ADCs) called N-myristoyltransferase inhibitors (NMTi).
- The company will target tumor-associated antigens B7-H3, HER2, and TROP2.
- NMTi ADCs have shown complete and durable tumor regressions in multiple solid cancer models at well-tolerated doses.
Conclusion:
The £90m financing round in Myricx Bio Ltd will enable the company to further develop its ADC platform and advance its pipeline of NMTi ADCs targeting various tumor-associated antigens. The preclinical data has demonstrated promising results, with NMTi ADCs achieving complete and durable tumor regressions, offering a novel and differentiated mechanism of action in the ADC field. The funding will also support the expansion of the company’s facilities and staff.
