ADC Innovator Myricx Bio Appoints Boston-based Mohit Rawat as CEO and Expands Team in US and UK

• Mohit Rawat appointed CEO, bringing deep biopharma leadership and a track record of driving innovations in drug discovery to commercial and transactional success; former CEO Robin Carr transitions to new CTO role
• Expanded senior team across clinical, CMC, regulatory and business development in the US and UK
• Global leader in developing a novel and highly differentiated payload class for ADCs, NMTi (N-myristoyltransferase inhibitors), to address the critical need to overcome payload resistance and improve tolerability
• On track to enter the clinic with lead NMTi-ADC candidate, following £90 million ($114 million) Series A led by Sofinnova Partners, Novo Holdings, Abingworth, Brandon Capital, Eli Lilly, British Business Bank and Cancer Research Horizons

LONDON, Sept. 22, 2025 (GLOBE NEWSWIRE) -- Myricx Bio (‘Myricx’), a private biotech company focusing on the discovery and development of a novel class of payloads for antibody-drug conjugates (ADCs), is scaling ahead of entering the clinic and is pleased to announce the appointment of Boston-based Mohit Rawat as its Chief Executive Officer (CEO) and member of the Board of Directors.

Mr Rawat joins from Fusion Pharmaceuticals where he was President and Chief Business Officer (CBO), which was acquired by AstraZeneca for $2.4 billion in 2024. He brings over two decades of experience in the biopharma industry including at Novartis and Abbvie, where he built his expertise in novel drug development, commercial execution, business development and corporate strategy. Mr Rawat has led, developed and launched multiple specialty products in oncology and other therapeutic areas, led multi-billion-dollar topline specialty businesses, and worked across M&A and business development transactions exceeding $5 billion in value.

ADCs have emerged as a transformative approach in cancer therapy. However there remains a critical unmet need due to payload resistance and toxicity. Myricx is translating its founders’ extensive research and world leading insights in N-myristoyltransferase (NMT) biology¹ and chemistry into ADC payloads with a novel, orthogonal and differentiated mode of action (MOA).

Retreatment with the same payload class leads to poor outcomes with a >50% reduction in the objective response rate (ORR)². Toxicity is currently a major challenge for ADCs often limiting tolerable ADC doses to levels below those required for substantial anti-cancer efficacy. Many of the leading ADCs have >50% treatment interruptions or dose reductions due to adverse effects. There is thus an urgent need for novel and differentiated ADC payloads.

NMT is critical to maintaining multiple pathways required for cancer cell survival and inhibition of this enzyme drives complete tumour regression, including in challenging tumour types. In addition, due to the completely novel MOA, NMTi-ADCs have a differentiated toxicity profile and the potential to treat cancers that have become resistant to or are unresponsive to current ADCs.

Following its £90 million ($114 million) Series A financing, with investors including Sofinnova Partners, Novo Holdings, Abingworth, Brandon Capital, Eli Lilly, British Business Bank and Cancer Research Horizons, Myricx is well resourced to invest in its innovative NMT inhibitor ADC payload platform and advance a pipeline of multiple ADC-NMTi programs against validated targets including B7-H3 and HER2 through clinical development.

Myricx recently nominated its lead development candidate and expects to initiate human clinical trials in 2026.

Mohit Rawat, CEO of Myricx Bio, 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 program for clinical development, on the back of impressive pre-clinical data.”

The leadership succession underlines Myricx growth ambitions, with former CEO Robin Carr Ph.D. transitioning to the role of Chief Technology Officer (CTO). The team has been further strengthened with senior leadership appointments: in the UK, Steen Lisby (CMO), Jesper Valbjørn (Senior VP, CMC) and Jonathon Marks-Bluth (VP, Business Development); and, in the US, David Ellis (VP, Regulatory Affairs) and Penny Fatato (Global Head, Clinical Operations).

Dr. 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.”

Caption: Mohit Rawat, Myricx Bio CEO
Copyright: Myricx Bio

1. Tate, Edward A. et al, MYC deregulation sensitizes cancer cells to N-myristoyltransferase inhibition: Cell Reports 44 (9), (2025)

2. Huppert, Laura A., et al. NPJ Breast Cancer 11.1 (2025): 34

Notes to Editors:

Mohit Rawat - https://www.linkedin.com/in/mohitrawat/

In his role President and CBO at Fusion Pharmaceuticals, Mr Rawat played a pivotal role in transforming the company into a commercially-focused organisation, leading to the company's 2024 acquisition by AstraZeneca for $2.4 billion. His leadership in business development and alliance management led to the successful acquisition of a groundbreaking Phase 2 asset in prostate cancer and the success of the Fusion-AstraZeneca alliance to co-develop and co-commercialize up to eight de novo radiopharmaceuticals and combination therapies, both of which helped established Fusion as a leader in the radiopharmaceutical field and supported the company in raising over $100 million in financing.

Mr. Rawat was previously VP and global disease lead for the $3 billion+ CML franchise (including asciminib/ABL001 and TASIGNA) at Novartis Oncology where he helped bring forward asciminib for approval and potential blockbuster success. Prior to this role, he was the U.S. marketing director for COSENTYX, where he led multiple commercial and strategic efforts for Novartis’ top product with more than $6 billion in sales; and executive director, early-stage pipeline, for NASH, cardiovascular, renal and metabolism, also at Novartis. Before joining Novartis, Mr. Rawat was asset team lead, senior director, immunology and neuroscience at AbbVie Pharmaceuticals. Prior to that, he was with McKinsey and Company, where he was a leader in the biopharmaceutical practice and led client teams on business development, research and development, product commercialization and strategy projects. Earlier in his career, Mr. Rawat held several positions of increasing responsibility within Novartis Pharmaceuticals, across marketing, drug development and portfolio planning.

Mr Rawat holds an MBA from Harvard Business School, and a Master's degree in Chemical Engineering from the Massachusetts Institute of Technology (MIT),

About Myricx Bio - www.myricxbio.com

Myricx Bio (“Myricx”) is a private biotechnology company focused on the discovery and development of therapeutics for the treatment of patients with cancer. Myricx is a global leader of a completely novel class of payloads for antibody-drug conjugates (ADCs), based on inhibition of N-myristoyltransferase (NMT).

A spin out from Imperial College London and the Francis Crick Institute, Myricx is headquartered in London with teams based in the UK and USA. Investors include Abingworth, Brandon Capital Partners, British Patient Capital, Cancer Research Horizons, Eli Lilly, Novo Holdings and Sofinnova Partners.

About N-myristoyltransferase inhibition

N-myristoyltransferase (NMT) is an enzyme responsible for the addition of a specific lipid to multiple proteins that are crucial for cancer cell survival. Myricx is developing a pipeline of antibody-drug conjugates (ADCs) to address significant unmet needs in oncology, leveraging its NMT inhibitor (NMTi) payload chemistry platform. These ADCs have demonstrated exceptional preclinical efficacy and tolerability across multiple solid tumour-associated antigens and cancer cell types.

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For further information please contact

At the Company
Mohit Rawat, CEO, Myricx Bio, info@myricxbio.com
        
Media Enquiries
Sue Charles, Charles Consultants, sue@charles-consultants.com, +44 (0)7986 72658

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