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UK biotech secures £90m in fundraising

Evening Standard

|

July 08, 2024

A LONDON drugmaker spun out of Imperial College and the Crick Institute today secured one of Europe’s largest ever early stage fundraising for a biotech, with £90 million backing for its pioneering cancer treatment.

- Lucy Tobin

UK biotech secures £90m in fundraising

Myricx Bio is working on drugs designed to destroy cancer cells — initially in breast and gastric tumours — with “precision oncology”.

Its research has created a proprietary antibody “pay-load” system that targets cancer drugs to the exact site of the tumour, with a warhead chemical that attacks it. The precision of the former allows for a much-lower dose of toxic drugs.

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