Novartis has entered into an agreement to acquire UK-based biotechnology company Myricx Bio in a deal valued at up to USD 1.5 billion, strengthening its oncology pipeline with a next-generation antibody-drug conjugate (ADC) platform designed to tackle treatment resistance in cancer.
Under the agreement, Novartis will pay USD 1.1 billion upfront, with up to USD 400 million in additional milestone payments. The transaction is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approvals.
Myricx Bio has developed a novel ADC platform based on N-myristoyltransferase inhibitor (NMTi) payloads, representing a potential first-in-class approach to targeted cancer treatment. The technology is designed to deliver cancer-killing agents directly to tumor cells while addressing resistance associated with existing ADC payloads, including topoisomerase-1 (TOPO-1) inhibitors
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“ADCs have become an important part of cancer treatment, but there remains a clear need for new payload mechanisms to overcome resistance and expand their impact for patients,” said Fiona Marshall, President of Biomedical Research at Novartis. “Myricx Bio has developed a promising NMTi payload platform with a differentiated mechanism that could broaden the use of ADCs across multiple tumor settings. This proposed acquisition reflects our strategy to scale innovative platforms, as we have with radioligand therapies, to deliver more durable, transformative treatments for patients.”
Novartis said “The acquisition is expected to strengthen its oncology pipeline by expanding its next-generation targeted therapy capabilities and advancing innovative treatment options for patients with cancer.”
