London-Based Myricx Pharma Raises £90 Million in 2024 Series A for Cancer Drug Development

Jul 8, 2024, 05:42 AM

British biotech spinout Myricx Pharma, based in London, has successfully raised £90 million ($115 million) in a series A financing round in 2024. The funding, which is one of the largest in recent years in the UK, includes contributions from investors such as the controlling shareholder of Ozempic maker Novo Nordisk and SofinnovaVC. The capital will be utilized to advance Myricx's novel N-myristoyltransferase (NMT) inhibitor antibody-drug conjugates (NMTi-ADC) therapeutics into clinical development. CEO Robin Carr highlighted the company's innovative NMT payload approach to ADCs. This significant investment underscores the growing interest and commitment to cancer treatment advancements.