Myricx Bio Secures £90m ($114m) Series A Financing to Advance Novel NMTi ADC Therapeutics

1. Financing Amount: Myricx Bio has secured £90 million ($114 million) in Series A financing to advance its novel N-Myristoyltransferase inhibitor (NMTi) antibody-drug conjugate (ADC) therapeutics.
2. Investors: The financing was co-led by Novo Holdings and Abingworth, with additional new investors including British Patient Capital, Cancer Research Horizons, and Lilly, alongside founding investors Brandon Capital and Sofinnova Partners.
3. Purpose: The funds will be used to build out Myricx's proprietary NMTi ADC payload platform and advance its pipeline through clinical proof of concept, targeting clinically validated tumor-associated antigens and addressing serious unmet needs in oncology.
4. Company Expansion: Myricx will establish laboratory operations in London and expand its management and R&D teams.
5. Board Additions: Michael Bauer from Novo Holdings and Lucille Conroy from Abingworth will join Myricx Bio's Board of Directors.