British Patient Capital, the venture capital arm of the UK government’s British Business Bank, has made a significant investment in Myricx Bio, a London-based life sciences company.
This undisclosed amount is part of a £90 million Series A funding round aimed at advancing Myricx Bio’s innovative cancer drug technology. The investment was facilitated through the £425 million Future Fund: Breakthrough program.
Co-led by prominent life sciences investors Novo Holdings and Abingworth, the funding round also saw participation from new investors Cancer Research Horizons and Eli Lilly and Company, alongside initial investors Brandon Capital and Sofinnova Partners.
Myricx Bio, a spin-out from Imperial College London and the Francis Crick Institute, specializes in developing technology that targets cancer cells with minimal side effects compared to conventional treatments. Their approach focuses on inhibiting an enzyme called NMT, crucial for cancer cell survival and proliferation.
The funds raised will support further development of Myricx Bio’s technology, with the goal of offering novel treatment options for oncology patients with significant unmet needs.
Ian Connatty, managing director of direct and co-investment at British Patient Capital, praised Myricx Bio’s promising pre-clinical data and its potential to make strides in the oncology sector. He emphasized the company’s commitment to advancing new therapies for cancer patients.
Carmine Circelli, director of life sciences at British Patient Capital, highlighted the broad applicability of Myricx Bio’s approach across diverse patient populations, including those resistant to current therapies.
Dr. Robin Carr, CEO of Myricx Bio, expressed gratitude for the support from new investors and underscored the company’s readiness to expand its research and development capabilities with the newly acquired resources.
This investment marks another milestone in British Patient Capital’s strategy to bolster the UK’s biotech sector, following a recent £10 million investment in Curve Therapeutics for cancer drug discovery technology.
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British Patient Capital, the venture capital arm of the UK government’s British Business Bank, has made a significant investment in Myricx Bio, a London-based life sciences company.
This undisclosed amount is part of a £90 million Series A funding round aimed at advancing Myricx Bio’s innovative cancer drug technology. The investment was facilitated through the £425 million Future Fund: Breakthrough program.
Co-led by prominent life sciences investors Novo Holdings and Abingworth, the funding round also saw participation from new investors Cancer Research Horizons and Eli Lilly and Company, alongside initial investors Brandon Capital and Sofinnova Partners.
Myricx Bio, a spin-out from Imperial College London and the Francis Crick Institute, specializes in developing technology that targets cancer cells with minimal side effects compared to conventional treatments. Their approach focuses on inhibiting an enzyme called NMT, crucial for cancer cell survival and proliferation.
The funds raised will support further development of Myricx Bio’s technology, with the goal of offering novel treatment options for oncology patients with significant unmet needs.
Ian Connatty, managing director of direct and co-investment at British Patient Capital, praised Myricx Bio’s promising pre-clinical data and its potential to make strides in the oncology sector. He emphasized the company’s commitment to advancing new therapies for cancer patients.
Carmine Circelli, director of life sciences at British Patient Capital, highlighted the broad applicability of Myricx Bio’s approach across diverse patient populations, including those resistant to current therapies.
Dr. Robin Carr, CEO of Myricx Bio, expressed gratitude for the support from new investors and underscored the company’s readiness to expand its research and development capabilities with the newly acquired resources.
This investment marks another milestone in British Patient Capital’s strategy to bolster the UK’s biotech sector, following a recent £10 million investment in Curve Therapeutics for cancer drug discovery technology.