LONDON, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Myricx Bio (‘Myricx’), a UK biotech company focusing on the discovery and development of a completely novel class of payloads for antibody-drug conjugates (ADCs), is pleased to announce that Paolo Paoletti, MD, has joined its Board of Directors as an independent Non Executive Director (NED).
Following its £90m ($114m) series A financing, Myricx has also expanded its team including a number of key hires and has completed its move to new facilities at the London Innovation Centre in Canary Wharf.
Paolo has extensive experience in the life science sector, with a strong focus on oncology and precision medicine. He was the first President of GSK Oncology and in eight years he brought seven new medicines to cancer patients, focusing on precision medicine. In a complex three-way transaction, the GSK Oncology Franchise was subsequently acquired by Novartis for $16bn in 2014.
Paolo was previously CEO at GammaDelta Therapeutics where he successfully led the development of Vdelta1Gammadelta T cells through to clinical stage, before its acquisition by Takeda in 2022. Prior pharma roles have included those at Eli Lilly and his academic career has included Professor of Pulmonary Medicine at the University of Pisa. He is the author of more than 300 publications.
Paolo is currently a member of the Board of Genmab Therapeutics, member of the Investment Committees of Apollo Therapeutics and 3B Future Health Fund, and Scientific Advisor to Dawn Bio.
Chris Martin, Chairman and Non Executive Director of Myricx Bio said, “I am delighted to welcome Paolo to the board. He brings extensive leadership experience in R&D and commercialisation in the pharma and biotech industry which will be invaluable as we advance our N-Myristoyltransferases inhibitor (NMTi) ADCs towards clinical development.”
Notes to Editors:
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 that are 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 Abingworth, Brandon Capital Partners, British Patient Capital Cancer Research Horizons, Eli Lilly and Company, Novo Holdings, Sofinnova Partners.
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For further information please contact:
At the Company
Dr Robin Carr, CEO, Myricx Bio, info@myricxbio.com
Media Enquiries
Sue Charles, Charles Consultants, sue@charles-consultants.com, +44 (0)7986 72658
