Myricx Bio has appointed Boston-based Mohit Rawat as chief executive officer, leading the company’s expansion across the US and UK as it prepares to enter the clinic with its novel antibody-drug conjugate (ADC) platform. The move follows a £90 million ($114 million) Series A round led by Sofinnova Partners, Novo Holdings, Abingworth, Brandon Capital, Eli Lilly, British Business Bank and Cancer Research Horizons.

Rawat succeeds Robin Carr, who transitions to the newly created role of chief technology officer. Myricx said the leadership changes mark a strategic step as the company advances its N-myristoyltransferase inhibitor (NMTi) ADC payload platform towards clinical trials.

Rawat joins from Fusion Pharmaceuticals, where he was president and chief business officer before the company’s $2.4 billion acquisition by AstraZeneca in 2024. He previously held senior roles at Novartis and AbbVie, gaining more than two decades of experience in oncology and other therapeutic areas, including business development and global strategy.

Myricx is developing a new class of ADC payloads based on inhibition of N-myristoyltransferase (NMT), an enzyme essential to multiple pathways that drive cancer cell survival. By targeting NMT, the company aims to overcome limitations associated with current ADC payloads, including toxicity and treatment resistance.

ADCs have transformed cancer therapy but are often constrained by dose-limiting toxicity and reduced efficacy on retreatment. Myricx said its NMTi-based payloads offer a differentiated mode of action, with the potential to improve tolerability and efficacy across a broad range of tumour types.

Rawat said: “Myricx is a highly ambitious company with the potential to become a leader in ADC therapeutics, with a first-in-class and highly differentiated ADC payload platform that leverages NMT inhibition. The NMTi platform has the potential to deliver the next generation of ADC therapeutics to improve tolerability, overcome payload resistance and offer a wider therapeutic index.

“We are backed by world-class and highly experienced investors and have attracted a talented team in our mission of providing more effective and better tolerated therapeutic options for cancer patients. I look forward to working with the team and the board as we prepare our lead programme for clinical development, on the back of impressive pre-clinical data.”

The company’s growing leadership team includes Steen Lisby as chief medical officer, Jesper Valbjørn as senior vice president of CMC, and Jonathon Marks-Bluth as vice president of business development in the UK. In the US, David Ellis joins as vice president of regulatory affairs and Penny Fatato as global head of clinical operations.

Chris Martin, chairman and non-executive director of Myricx Bio, said: “I am delighted to welcome Mohit and our new team members to the company. Mohit has the expertise to lead Myricx forward through its next stage of growth. He has a proven track record of driving success in biopharma businesses and a deep understanding of oncology and immunology drug development. His previous experience will be instrumental in advancing our innovative NMTi-ADC therapies forward to address the urgent unmet need for the majority of patients who are resistant to or relapse on current therapies.

“On behalf of the board and our investors, I would also like to recognise and thank Robin for his leadership, tenacity and achievements that have delivered the financial resources and outstanding data that attracted Mohit to join the company. I am delighted that Robin will continue to contribute in the newly created role of CTO.”

Myricx said it recently nominated its lead development candidate and expects to begin human trials in 2026. The company plans to advance multiple NMTi-ADC programmes against validated oncology targets including B7-H3 and HER2.