Novo Holdings has co-led a £90 million ($114 million) Series A financing round for Myricx Bio. The funding aims to build out Myricx Bio’s proprietary payload platform and advance its N-Myristoyltransferase inhibitor (NMTi) ADC pipeline through clinical proof of concept. This move makes it the largest biotech Series A financing in Europe this year. Novo Holdings’ Venture Investments Partner Michael Bauer will join the Myricx Board of Directors and Principal Max Klement will join as an Observer. Myricx Bio, a UK-based company spun out of Imperial College London and the Francis Crick Institute, is focusing on the discovery and development of novel payload classes for antibody-drug conjugates (ADCs), particularly in oncology. The technology has shown promising preclinical efficacy and safety in various solid cancer models. The consortium leading this investment includes renowned entities such as Abingworth, British Patient Capital (BPC), Eli Lilly & Company, Sofinnova Partners, and Brandon Capital.
Biotechnology, Life Sciences, Investment and Private Equity,United Kingdom, Denmark
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