Myricx Bio Obtains $114m From Investment for NMTi-ADCs

For the purpose of advancing its N-Myristoyltransferase inhibitor (NMTi) antibody-drug conjugate (ADC) treatments into the research and development stage, UK-based biotech startup Myricx Bio has raised £90 million ($114 million) in its Series A investment round.

The capital infusion will go towards growing the NMTi inhibitor ADC payload technology at Myricx. The funding will also be used to advance the NMTi-ADC pipeline, which will concentrate on medically verified tumour-associated antigens, to clinical evidence of concept.

Myricx Bio CEO Dr Robin Carr commented: “I am truly grateful for the support of our founding investors Brandon Capital and Sofinnova Partners as we developed our initial NMT inhibitor chemistry and demonstrated the potential of NMTis as ADCs.’’

He continued: “Myricx now has the resources to grow into a fully-fledged R&D [research and development] company with our own laboratories, and an in-house R&D team with expanded management capabilities. Consequently, we are well positioned to build on our NMTi ADC platform and advance our pipeline as we become a clinical-stage company.”