Myricx Pharma, a Stevenage, United Kingdom-based drug discovery company focused on developing small molecule inhibitors that selectively target the human N-myristoyltransferases (NMT) in cancer, raised £4.5m in seed financing.
Backers included Sofinnova Partners and Brandon Capital Partners.
The company intends to use the funds to advance discoveries in cancer and develop precision medicines for a range of diseases with unmet medical need.
A startup from the UK’s leading biomedical research organisations, Imperial College London and the Francis Crick Institute based on over 15 years of NMT biology and chemistry research from the laboratories of its co-founders, Professor Ed Tate, Chief Scientific Officer, Dr Andrew Bell, Chemistry Consultant, and Dr Roberto Solari, Chief Executive Officer, Myricx is a small molecule drug discovery company engaged in developing novel proprietary inhibitors of human N-myristoyltransferases (NMT), with a primary focus in oncology but also exploring potential applications across other diseases. The company is pursuing NMT inhibition in a variety of indications with an initial focus in oncology exploiting novel breakthrough discoveries that identified that inhibition of NMT results in specific cancer cell killing via an unexpected and unique mechanism. Myricx has discovered that its NMT inhibitors are proving to be highly effective in the treatment of MYC-driven cancer models.
The team also includes Dr Robin Carr, Chief Development Officer, who has over 30 years’ industry experience and is regarded as a leader in innovative drug discovery, having launched drugs within oncology.