Novartis AG (NYSE:NVS) has agreed to acquire privately held U.K. biotechnology company Myricx Bio in a deal valued at up to $1.5 billion, as the drugmaker looks to strengthen its oncology pipeline with a new class of antibody-drug conjugates (ADCs).
The acquisition would add Myricx’s N-myristoyltransferase inhibitor (NMTi) payload platform, which is designed to deliver targeted cancer therapies with a novel mechanism aimed at overcoming limitations of existing ADC treatments.
Deal Terms
Under the agreement, Novartis will pay $1.1 billion upfront to acquire Myricx Bio, with up to $400 million in additional milestone payments.
The transaction is expected to close during the second half of 2026.
