The London and Cambridge Life Sciences team advised Myricx on its £90 million Series A financing, co-led by Novo Holdings and Abingworth. Additional new investors British Patient Capital, Cancer Research Horizons and Lilly also participated in the round, alongside founding investors Brandon Capital and Sofinnova Partners.
Myricx Bio (“Myricx”) is a UK biotech company focused on the discovery and development of a completely novel class of payloads for antibody-drug conjugates (ADCs), based on inhibitors of N-Myristoyltransferases (NMT) for the treatment of cancer. NMT is an enzyme that adds a specific lipid modification to a number of protein targets that are key to cancer cell survival. Myricx is advancing a pipeline of ADCs to address serious unmet needs in oncology based on its NMT inhibitor (NMTi) payload chemistry platform and has demonstrated excellent preclinical efficacy and safety across multiple solid tumour-associated antigens and cancer cell types.
Funds from the new round will be used to build out Myricx Bio’s proprietary N-Myristoyltransferase inhibitor (NMTi) antibody-drug conjugate (ADC) payload platform and advance its pipeline of NMTi-ADCs through clinical proof of concept targeting clinically validated tumour-associated antigens.
The Goodwin team was led by Graham Defries, Kenny Walker-Durrant, Tim Worden, George Fagan, and Emily Townsend.
For more details on the financing, please see here.