We are delighted to co-lead the Myricx Bio series A financing and look forward to supporting the company as it advances its ADC platform and pipeline. Congratulations!
FUNDING NEWS: We are thrilled to announce our £90m ($114m) series A financing, one of the largest biotech series A in European biotech and the largest in the UK this year. The round was co-led by new investors Novo Holdings and Abingworth. Additional new investors British Patient Capital, Cancer Research Horizons and Eli Lilly and Company also participated alongside founding investors Brandon Capital and Sofinnova Partners. The series A funds enable us to build out our proprietary N-Myristoyltransferase inhibitor (#NMTi) antibody-drug conjugate (#ADC) payload platform and advance our pipeline of NMTi-ADCs through clinical proof of concept targeting clinically validated tumour-associated antigens. The ADC area is one of the most promising modalities and new payloads are urgently needed. Having been a virtual company since spinning out from Imperial College London and The Francis Crick Institute, we will now move to establish laboratory operations in London’s biotech hub and will be expanding our management and R&D teams. Welcome to our new investors and thank you to everyone that has contributed to the progress of the company so far, not least our founding scientists Ed Tate, Roberto Solari and Andy Bell. Exciting times ahead. Read the full release HERE https://lnkd.in/eSu9mP3c #venturecapital #financing #drugdevelopment #UKbiotech