“There is a widely recognised and critical unmet need for new ADC payloads that can improve the standard of care over current payloads, overcome payload resistance, improve tolerability and offer a wider therapeutic index. We are delighted that Novartis recognises the transformative promise of our NMTi-ADC platform to deliver this next-generation of potential first-in-class, highly differentiated ADC therapeutics,\u201d said Mohit Rawat, CEO of Myricx Bio. “This acquisition is a tremendous endorsement of the leadership of our NMTi-ADC platform, and the insights, innovation and achievements of our founders and team towards our mission of providing more effective and better tolerated therapeutic options for cancer patients. Together with Novartis, we look forward to building upon our work to transform the landscape of cancer treatment.\u201d<\/p>\n
“ADCs have become an important part of cancer treatment, but there remains a clear need for new payload mechanisms to overcome resistance and expand their impact for patients,\u201d said Fiona Marshall, President of Biomedical Research at Novartis. “Myricx Bio has developed a promising NMTi payload platform with a differentiated mechanism that could broaden the use of ADCs across multiple tumour settings. This proposed acquisition reflects our strategy to scale innovative platforms, as we have with radioligand therapies, to deliver more durable, transformative treatments for patients.\u201d<\/p>\n
Myricx Bio was spun out from Imperial College London and the Francis Crick Institute, by Professor Ed Tate Ph.D., Roberto Solari Ph.D. and Andrew Bell Ph.D., supported by Cancer Research UK, and backed by seed investment from Brandon Capital and Sofinnova Partners. Under the leadership of current Myricx Bio CTO, Robin Carr Ph.D., the company raised \u00a390m ($114m) in a Series A in mid-2024 led by Novo Holdings and Abingworth who were joined by British Business Bank, Cancer Research Horizons and Eli Lilly, and existing investors. This enabled the company to scale its operations and expand the team to rapidly advance its pipeline. Mohit Rawat joined as CEO in 2025 to steer the company through pre-clinical development and its next stage of growth, leading to this groundbreaking deal.<\/p>\n
The transaction is expected to close in H2 2026, subject to the satisfaction or waiver of customary closing conditions, including regulatory approvals.<\/p>\n
Goodwin was legal advisor to Myricx Bio through the transaction.<\/p>\n
<\/p>\n <\/a><\/p>\n Caption: Mohit Rawat, Myricx Bio CEO<\/p>\n Copyright: Myricx Bio<\/p>\n Access to a media library of high-resolution photographs at Myricx Bio Media Kit<\/a><\/p>\n For further information please contact <\/p>\n At the Company <\/p>\n Mohit Rawat, CEO, Myricx Bio, [email\u00a0protected]<\/a>\u00a0 \u00a0 \u00a0 \u00a0<\/p>\n Media Enquiries <\/p>\n Charles Consultants <\/p>\n Sue Charles – [email\u00a0protected]<\/a> +44 (0)7968 726585<\/p>\n Chris Gardner – [email\u00a0protected]<\/a> +44 (0)7956 031077<\/p>\n Notes to Editors: <\/p>\n About N-myristoyltransferase inhibition and ADCs<\/p>\n N-myristoyltransferase (NMT) is an enzyme responsible for the addition of a specific lipid to multiple proteins that are crucial for cancer cell survival. Myricx Bio has developed a pipeline of antibody-drug conjugates (ADCs) to address significant unmet needs in oncology, leveraging its NMT inhibitor (NMTi) payload chemistry platform. These ADCs have demonstrated exceptional preclinical efficacy and tolerability across multiple solid tumour-associated antigens and cancer cell types.<\/p>\n Retreatment with ADCs with the same payload class leads to poor outcomes with a >50% reduction in the objective response rate (ORR). Toxicity is currently a major challenge for ADCs often limiting tolerable ADC doses to levels below those required for substantial anti-cancer efficacy. Many of the leading ADCs have >50% treatment interruptions or dose reductions due to adverse effects. There is thus an urgent need for novel and differentiated ADC payloads.<\/p>\n NMT is critical to maintaining multiple pathways required for cancer cell survival. Pre-clinical observations suggest inhibition of this enzyme drives complete tumour regression, including in challenging tumour types. In addition, due to the completely novel MOA, NMTi-ADCs have a differentiated toxicity profile and the potential to treat cancers that have become resistant to or are unresponsive to current ADCs.<\/p>\n About Myricx Bio –www.myricxbio.com<\/a><\/p>\n Myricx Bio (“Myricx Bio\u201d) is a private biotechnology company focused on the discovery and development of therapeutics for the treatment of patients with cancer. It has pioneered the development of a completely novel class of payloads for antibody-drug conjugates (ADCs), based on inhibition of N-myristoyltransferase (NMT).<\/p>\n A spin out from Imperial College London and the Francis Crick Institute, Myricx Bio is headquartered in London with teams based in the UK and USA. Investors include Abingworth, Brandon Capital Partners, British Business Bank, Cancer Research Horizons, Eli Lilly, Novo Holdings and Sofinnova Partners.<\/p>\n Follow us on LinkedIn<\/a><\/p>\n![\"No](\"https:\/\/manilatimes.net\/manilatimes\/uploads\/images\/2026\/07\/06\/1125417.jpg\")
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