About Myricx Bio
Myricx Bio is a biotech firm developing N-myristoyltransferase inhibitors for oncology. Oxford-headquartered and spun out from the University of Oxford in 2020, it advances NMTi payloads for antibody-drug conjugates targeting solid tumors like lung and breast cancers. Preclinical data show potent efficacy across KRAS-mutant lines with clean safety profiles. Myricx partners with global pharma for clinical translation in multiple indications.
Founded
2019
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Valuation
$1.5B (acquired Jul 2026)
Sectors
Myricx Bio Acquisition
Myricx Bio was acquired by Novartis for $1.5B on 5 July 2026.
Before the acquisition Myricx Bio had raised $122M across 2 funding rounds.
Novartis has agreed to acquire UK-based biotechnology company Myricx Bio for up to $1.5 billion, including $1.1 billion in upfront cash payments and up to $400 million in potential milestone payments. The transaction, expected to close in the second half of 2026, brings Myricx's novel N-myristoyltransferase inhibitor (NMTi) payload platform into Novartis' pipeline, advancing innovation in the antibody-drug conjugate (ADC) space for oncology. Myricx Bio, a cancer therapy spinout from Imperial College London's Department of Chemistry, focuses on developing next-generation ADC payloads for solid tumors and has two lead ADC assets in its pipeline. In 2024, Myricx raised £90 million in a Series A round, one of the largest ever for a European academic biotech spinout. The acquisition represents the highest-value exit of any Imperial spinout company to date. Myricx is privately held, with venture capital backing from Sofinnova Partners and Brandon Capital. No public financial metrics such as revenue or EBITDA are disclosed for Myricx Bio, as the company remains in preclinical development.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 5 Jul 2026 | Strategic M&A | $1.5B |
Myricx Bio Funding History
Myricx Bio has raised a total of $122M across 2 funding rounds.
Myricx Bio's first fundraising round was a $6M seed round in November 2020. The most recent completed round was a $116M Series A in July 2024.
Myricx Bio funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jul 2024 | Series A | Abingworth (lead); Novo Holdings (lead); Cancer Research Horizons; Sofinnova Partners; Eli Lilly; British Patient Capital; Brandon Capital | $116M | Myricx Bio is a UK-based biotechnology company spun out from Imperial College London and the Francis Crick Institute, specializing in the discovery and development of novel N-Myristoyltransferase inhibitor (NMTi) payloads for antibody-drug conjugates (ADCs) targeting oncology indications. The company advances a pipeline of NMTi-ADCs against clinically validated tumor-associated antigens, demonstrating strong preclinical efficacy and safety across multiple solid tumor types. Myricx employs a proprietary NMTi ADC payload platform designed to expand beyond standard payload classes, offering selective therapies that minimize off-target effects. On July 8, 2024, Myricx Bio closed a £90 million ($114-115 million) Series A financing round co-led by Abingworth and Novo Holdings, matching the specified investors including Brandon Capital, British Patient Capital, Cancer Research Horizons, Eli Lilly, and Sofinnova Partners. The proceeds will fund expansion of the NMTi ADC platform, advancement of the pipeline through clinical proof-of-concept, establishment of in-house laboratories in London's biotech hub, and growth of R&D and management teams to transition into a clinical-stage company. Michael Bauer from Novo Holdings and Lucille Conroy from Abingworth joined the board. The funding supports operations into 2028, positioning Myricx to generate further data for potential Series B, IPO, or partnerships in the competitive ADC space dominated by Big Pharma interest, particularly from China-sourced assets. |
| Nov 2020 | Seed | Sofinnova Partners; Brandon Capital | $6M | Myricx Bio (then Myricx Pharma) launched in November 2020 as a UK drug discovery company developing small molecule inhibitors targeting N-myristoyltransferase (NMT) for cancer treatment, based on 15 years of research from Imperial College London and the Francis Crick Institute. The company raised an initial seed investment of $8.2 million (£4.5 million) co-led by Brandon Capital Partners (via the Medical Research Commercialisation Fund) and Sofinnova Partners. Founders include Dr. Roberto Solari as CEO, Prof. Ed Tate, and Dr. Andrew Bell, operating from the Stevenage Bioscience Catalyst facility. |
Who has invested in Myricx Bio?
7 investors have backed Myricx Bio across its funding rounds, including Sofinnova Partners, Brandon Capital, Novo Holdings, Eli Lilly, Abingworth and British Patient Capital.
Lead investors include Abingworth and Novo Holdings.
Myricx Bio Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Nov 2020 | ||
| 2 | Participant | Nov 2020 | ||
| 1 | Participant | Jul 2024 | ||
| 1 | Lead | Jul 2024 | ||
| 1 | Lead | Jul 2024 | ||
This data is available for Pro users. Sign up to see all 7 Myricx Bio investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialMyricx Bio Competitors
Myricx Bio competitors include listed companies like Zhejiang Wolwo Bio-Pharma, Lotus Pharmaceutical and Bicara Therapeutics, and private ones like Anew Labs, Kardigan and Verdiva Bio.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.5B | - | ||
| Private | - | - | $1.5B | - | ||
| Private | - | - | $1.5B | - | ||
| Publicly listed | $158M | $69M | $1.5B | 8.5x | ||
| Publicly listed | $644M | $252M | $1.5B | 3.2x | ||
| Publicly listed | - | ($155M) | $1.5B | - |
Myricx Bio Public Comps
Myricx Bio is no longer listed, but its public comps include Zhejiang Wolwo Bio-Pharma, Lotus Pharmaceutical, Bicara Therapeutics, Pharma Mar, Nippon Shinyaku, Xeris Biopharma, Marksans Pharma, Avalyn Pharma, Innoviva and Natco Pharma.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $158M | $69M | 8.3x | 8.5x | 19.0x | - | |||
| $644M | $252M | 4.9x | 3.2x | 12.4x | 8.9x | |||
| - | ($155M) | - | - | (6.4x) | (5.4x) | |||
| $255M | $77M | 5.3x | 5.5x | 17.5x | 27.5x | |||
| $1.1B | $271M | 1.0x | 0.9x | 3.9x | 3.9x | |||
| $292M | $38M | 5.7x | 4.6x | 44.1x | 28.2x | |||
| $307M | $68M | 4.7x | 4.3x | 21.2x | 20.2x | |||
| - | ($91M) | - | - | (12.5x) | (10.1x) | |||
This data is available for Pro users. Sign up to see all Myricx Bio competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Myricx Bio
| When was Myricx Bio founded? | Myricx Bio was founded in 2019. |
| Where is Myricx Bio headquartered? | Myricx Bio is headquartered in London, United Kingdom. |
| Is Myricx Bio publicly listed? | No, Myricx Bio was acquired by Novartis in July 2026. |
| Who acquired Myricx Bio? | Myricx Bio was acquired by Novartis in July 2026. |
| How much was Myricx Bio acquired for? | Myricx Bio was acquired for $1.5B in July 2026. |
| How much funding has Myricx Bio raised? | Myricx Bio has raised $122M across 2 funding rounds. |
| What was Myricx Bio's last funding round? | Myricx Bio's last funding round was a $116M Series A in July 2024, led by Abingworth and Novo Holdings. |
| Who are Myricx Bio's investors? | Myricx Bio's investors include Sofinnova Partners, Brandon Capital, Cancer Research Horizons, Novo Holdings, Abingworth, Eli Lilly and British Patient Capital. |
| Which companies are comparable to Myricx Bio? | Companies comparable to Myricx Bio include Anew Labs, Kardigan, Verdiva Bio, Zhejiang Wolwo Bio-Pharma, Lotus Pharmaceutical and Bicara Therapeutics. |
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