Myricx Bio gains $114m in Series A round to develop NMTi-ADCs [Yahoo! Finance]
Eli Lilly and Company (LLY)
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Source: Yahoo! Finance
Novo Holdings and Abingworth jointly spearheaded the investment round. The company's founding investors, Brandon Capital and Sofinnova Partners, also contributed, alongside new participants British Patient Capital, Cancer Research Horizons and Eli Lilly and Company. The capital injection will be channelled into expanding Myricx's NMTi inhibitor ADC payload platform. The funds will also support the progression of its NMTi-ADC pipeline through to clinical proof of concept, focusing on clinically validated tumour-associated antigens. Myricx Bio CEO Dr Robin Carr stated: “I am truly grateful for the support of our founding investors Brandon Capital and Sofinnova Partners as we developed our initial NMT inhibitor chemistry and demonstrated the potential of NMTis as ADCs. “Myricx now has the resources to grow into a fully-fledged R&D [research and development] company with our own laboratories, and an in-house R&D team with expanded management capabilities. Consequently, we are w
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LLY
Earnings
- 8/8/24 - Beat
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- 9/17/24 - Form 4
- LLY's page on the SEC website