A London biotech raises $114M to hone a new kind of ADC payload

A London-based biotechnology company is capitalizing on investor interest in antibody-drug conjugates for cancer, announcing Sunday the completion of a Series A round that raised $114 million.

Myricx Bio, which launched in 2019, claims its approach to antibody-drug conjugates, or ADCs, could offer advantages over existing treatments by using a new kind of “payload” to attack tumors.

ADCs have emerged as a research hot spot in recent years. They’re built from a monoclonal antibody, a precise dose of a toxin and a chemical linker pairing the two. More than a dozen ADCs are approved by U.S. regulators as cancer treatments, and over 100 programs are in clinical development, according to estimates. While early iterations of the drugs were effective in destroying tumor cells, developers’ next step has been dialing in the drugs’ precision and safety.

“All ADCs come through looking compelling in terms of potency in…
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