Novartis to acquire Myricx Bio for up to $1.5bn

Novartis (NVS) has entered into an agreement to acquire Myricx Bio, a privately held biotechnology company based in the UK. The transaction, announced on July 6, 2026 from Basel, is designed to strengthen Novartis’s (NVS) oncology pipeline with next-generation antibody-drug conjugate technologies.

Under the terms of the agreement, Novartis will pay USD 1.1 billion upfront and may pay up to an additional USD 400 million in milestone-based payments. This structure values the deal at up to USD 1.5 billion, contingent on the achievement of specified milestones.

The transaction is expected to close in the second half of 2026. Completion remains subject to the satisfaction or waiver of customary closing conditions, including required regulatory approvals.

Myricx Bio is focused on developing a new class of antibody-drug conjugates that use N-myristoyltransferase inhibitor payloads. The company’s platform is centered on this NMTi mechanism, which has been described as potentially first-in-class among ADC payloads.

Myricx has two lead preclinical ADC assets targeting B7-H3 and HER2, with potential applications across multiple solid tumor indications. These programs add targeted oncology assets at an early stage of development to Novartis’s research portfolio.

Novartis stated that acquiring Myricx could help establish NMTi as a new class of ADC payloads if clinical validation is achieved. Preclinical data cited in the announcement indicate broad activity across solid tumors, including models resistant to TOPO-1 inhibitor-based treatments.

The planned acquisition is positioned as a step toward advancing next-generation targeted drug conjugates with novel payload mechanisms. By integrating Myricx’s platform, Novartis aims to expand the range of tumors that can be addressed by ADC therapies.

Fiona Marshall, President of Biomedical Research at Novartis, emphasized that Myricx has developed a promising NMTi payload platform with a differentiated mechanism. She highlighted the potential for this approach to broaden the use of ADCs across multiple tumor settings if future studies confirm its benefits.

The announcement includes customary forward-looking statements reflecting expectations about the closing timeline, regulatory clearances, and the future performance of the acquired programs. Until the deal closes in H2 2026, Myricx remains a separate, privately held entity.