Novartis signed a definitive agreement to acquire Myricx Bio for up to $1.5 billion. The UK-based preclinical oncology company will receive an upfront cash payment of $1.1 billion. The agreement includes potential milestone payments beyond the initial cash consideration.
The acquisition provides Novartis with a portfolio of antibody-drug conjugates (ADCs). It also includes a proprietary N-myristoyltransferase inhibitor (NMTi) payload platform. These technologies target various solid tumors through specific cancer therapy.
This transaction reflects significant pharmaceutical investment in the ADC therapeutic area. Brandon Capital, which helped spin out Myricx from UK research institutions, announced the deal. The companies expect the transaction to close in the second half of 2026.