04:24 AM EDT, 07/08/2024 (MT Newswires) -- Eli Lilly ( LLY ) participated in a series A financing round for UK drug developer Myricx Bio that raised 90 million pounds ($114 million), Myricx said Monday.

Myricx said the funding was co-led by Novo Holdings, which is the controlling shareholder of Novo Nordisk ( NVO ) , and Abingworth.

Additional new investors British Patient Capital and Cancer Research Horizons also participated alongside founding investors Brandon Capital and Sofinnova Partners.

Michael Bauer from Novo Holdings and Lucille Conroy from Abingworth will join Myricx's board, the company said.

Myricx will use the funds to support the development of cancer drugs, it said.

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