Myricx Bio Enters into an Exclusive Antibody License Agreement with WuXi Biologics
News provided byMyricx Bio
Nov 21, 2023, 4:00 AM ET
LONDON and SHANGHAI, China, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Myricx Bio (‘Myricx’), a UK biotech company focused on the discovery and development of a completely novel class of antibody-drug conjugate (ADC) payloads based on N-Myristoyltransferase inhibition (NMTi), and WuXi Biologics (“WuXi Bio”) (2269.HK), a leading global Contract Research, Development and Manufacturing Organization (CRDMO), today announce that they have entered into a license agreement under which Myricx will have exclusive access to a proprietary antibody that was discovered based on WuXi Bio’s integrated technology platforms.
Under the terms of the agreement, Myricx will develop the antibody into a first-in-class ADC based on its NMTi payload platform, which has a highly differentiated profile over standard payload classes, including microtubule and topoisomerase inhibitors. Myricx intends to progress the ADC through preclinical and clinical development for difficult-to-treat solid tumours. WuXi Bio will receive an upfront payment and will be eligible for development and commercialisation milestone payments, as well as royalties on net sales.
NMT is an enzyme that adds a specific lipid modification to several protein targets key to cancer cell survival. Myricx recently highlighted the power of its NMTi payload platform across multiple tumour-associated antigens including B7-H3, TROP2, and HER2, with preclinical data presented at the 14th Annual World ADC conference in San Diego for which Myricx won the prize for Best Poster.
This is the second antibody license agreement that Myricx has entered into with a global company in the past few months as the Company builds out its pipeline of NMTi-ADCs.
Myricx CEO Dr Robin Carr said, “We are delighted to have reached this agreement with WuXi Bio, one of the top biologics CRDMOs globally. We believe that combining this leading antibody with our novel NMTi-based payload will create an ADC with significant clinical differentiation in solid tumours. Based on our positive preclinical data, we believe NMTi-ADCs offer a highly differentiated mechanism of action, superb efficacy, and good tolerability across different cancer targets.”
Dr Chris Chen, CEO of WuXi Biologics, commented, "This license agreement with Myricx is another testament of our proprietary integrated platform and the ‘R’ in our CRDMO business model. We are looking forward to enabling global clients to develop more first-in-class and best-in-class biologics drugs for the benefits of patients worldwide."
Myricx is a spin-out from two of the UK’s leading biomedical research organisations: Imperial College London and the Francis Crick Institute; founded to develop drugs based on the unique insights into NMT biology made by its founders Professors Ed Tate and Roberto Solari, with seed financing from Sofinnova Partners and Brandon Capital.
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About Myricx Bio - www.myricxbio.com
Myricx Bio (“Myricx”) is a UK biotech company focused on the discovery and development of a completely novel class of payloads for antibody-drug conjugates (ADCs), based on inhibitors of N-myristoyltransferases (NMT) for the treatment of cancer.
NMT is an enzyme that adds a specific lipid modification to a number of protein targets key to cancer cell survival. Myricx is advancing a pipeline of ADCs to address serious unmet needs in oncology based on its NMT inhibitor (NMTi) payload chemistry platform and has demonstrated excellent preclinical efficacy and safety across multiple solid tumour associated antigens and cancer cell types.
Based in London, Myricx is a spin out from Imperial College London and the Francis Crick Institute with investment from Sofinnova Partners and Brandon Capital Partners.
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About WuXi Biologics - www.wuxibiologics.com
WuXi Biologics (stock code: 2269.HK) is a leading global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics – from concept to commercialization – for the benefit of patients worldwide.
With over 12,000 skilled employees in China, the United States, Ireland, Germany and Singapore, WuXi Biologics leverages its technologies and expertise to provide customers with efficient and cost-effective biologics discovery, development and manufacturing solutions. As of June 30, 2023, WuXi Biologics is supporting 621 integrated client projects, including 22 in commercial manufacturing.
WuXi Biologics views Environmental, Social, and Governance (ESG) responsibilities as an integral component of our ethos and business strategy, and we aim to become an ESG leader in the biologics CRDMO sector. Our facilities use next-generation biomanufacturing technologies and clean-energy sources. We have also established an ESG committee led by our CEO to steer the comprehensive ESG strategy and its implementation, enhancing our commitment to sustainability.
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