Novartis entered an agreement to acquire UK-based biotechnology company Myricx Bio for up to $1.5 billion. The deal includes an initial $1.1 billion upfront payment. Novartis may pay an additional $400 million in potential milestone payments. The transaction is expected to close in the second half of 2026, subject to regulatory approvals.
The acquisition provides Novartis access to a proprietary N-myristoyltransferase inhibitor (NMTi) payload platform. This technology develops antibody-drug conjugates (ADCs) designed to deliver cancer-killing payloads directly to tumor cells. The platform aims to overcome resistance found in current ADC therapies.
Novartis adds two lead ADC assets targeting B7-H3 and HER2 to its oncology pipeline. These assets potentially impact multiple types of solid tumors.