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§ Private Profile · Waltham, MA, USA
Mythic Therapeutics is a technology company.
Mythic Therapeutics was a biotechnology company focused on developing next-generation antibody-drug conjugates (ADCs) through its proprietary FateControl™ technology. This innovative platform aimed to precisely deliver chemotherapy directly to tumor cells, thereby increasing uptake in cancerous tissues while minimizing payload release in normal cells. The company's approach sought to improve the therapeutic window of ADCs, enhancing efficacy and reducing the systemic toxicity often associated with cancer treatments.
The company was founded on the insight that existing ADCs could be significantly improved by better controlling the release of therapeutic agents within the tumor. This vision drove the development of their technology, which focused on ensuring drug activation predominantly within the target cancer cells. While specific founding details are not publicly available, Mythic Therapeutics emerged with the goal of addressing unmet needs in oncology by refining targeted drug delivery mechanisms.
Mythic Therapeutics sought to provide more effective and safer treatment options for patients battling cancer. Their vision centered on advancing a pipeline of these optimized ADCs to significantly enhance patient outcomes in oncology. However, the company is currently in the process of winding down its operations, having laid off staff, terminated its clinical trial, and is preparing to sell its assets.
Mythic Therapeutics has raised $100.0M across 1 funding round.
Mythic Therapeutics has raised $100.0M in total across 1 funding round.
Mythic Therapeutics is a Boston-area biotech company developing next-generation antibody-drug conjugates (ADCs) for cancer treatment, using its proprietary FateControl™ technology to enhance ADC uptake in tumor cells while minimizing toxicity in healthy tissues.[1][2][3][4] The company serves oncology patients by addressing the limitations of traditional ADCs, where over 95% of the dose often reaches healthy tissues, reducing efficacy and increasing side effects; Mythic's platform solves this by manipulating intracellular ADC trafficking for superior potency and broader applicability across tumor targets.[3][4][6] In clinical stage (Phase 1), with lead product MYTX-011 targeting NSCLC, Mythic has raised $103M in Series B funding in Dec 2021 from investors like Viking Global, Foresite Capital, and Perceptive Advisors, showing strong growth momentum in the oncology therapeutics space.[2][3]
Founded in 2017 in Waltham, MA, by Brian Fiske, PhD (current Chief Scientific Officer) and Alex Nichols, Mythic emerged from the need to overcome ADC inefficiencies in cancer therapy.[2][3][5] Fiske, with deep expertise in protein engineering and oncology, co-led the vision to pioneer FateControl™, drawing on decades of collective experience from leadership and advisers, including former executives from AbbVie and Stemcentrx.[4][5] Early traction came via its product-platform model, advancing to Series B funding ($103M in 2021) and Phase 1 clinical trials for MYTX-011, marking pivotal progress in targeted oncology.[2][3]
Mythic rides the ADC resurgence in precision oncology, where ADCs have matured over 40 years into viable therapies but remain limited by off-target toxicity for most patients.[4][6] Timing aligns with surging demand for targeted cancer drugs amid rising NSCLC and solid tumor cases, fueled by market forces like improved biologics manufacturing and regulatory successes (e.g., approved ADCs like Enhertu).[3][6] By expanding ADC viability to suboptimal targets, Mythic influences the ecosystem, potentially unlocking treatments for underserved patients and pressuring competitors to innovate on intracellular delivery, while benefiting from Boston's biotech hub for talent and partnerships.[1][2][5]
Mythic is poised for Phase 1 data readouts on MYTX-011 and pipeline expansion, leveraging FateControl™ to capture share in the $10B+ ADC market amid oncology megatrends like combination therapies and precision medicine.[3][6] Evolving trends in AI-driven protein engineering and bispecific ADCs could amplify its platform, with influence growing via potential Big Pharma partnerships or approvals that redefine safer cancer care. This positions Mythic to transform ADC limitations into widespread impact, building directly on its mission to pioneer smarter therapeutics.[1][4]
Mythic Therapeutics has raised $100.0M in total across 1 funding round.
Mythic Therapeutics's investors include Viking Global Investors, Curie.Bio, First Round Capital, F-Prime Capital Partners, i/o Ventures, Meridian Street Capital, Moderne Ventures, Niu Ventures, Operator Partners, Refactor Capital, SV Angel, Threshold Ventures.
Mythic Therapeutics has raised $100.0M across 1 funding round. Most recently, it raised $100.0M Series B in December 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 1, 2021 | $100M Series B | Viking Global Investors | Curie.bio, First Round Capital, F Prime Capital, I/O Ventures, Meridian Street Capital, Moderne Ventures, NIU Ventures, Operator Partners, Refactor Capital, SV Angel, Threshold Ventures, Transformation Capital, Venrock, Venture Catalysts, Aaron Patzer, Jonathan Bush, Kevin Nazemi, Vivek Garipalli, Foresite Capital, Highside Capital Management, LifeForce Capital, OMX Ventures, Perceptive Advisors | Announced |