Novartis has acquired UK biotech Myricx for up to $1.5bn as global drugmakers invest inpromising biotech firms ahead expected patent expiries

The deal hands over two ADCs with a different mechanism of action targeting cell growth, and marks Novartis' entry into ADC development.

Brandon Capital will receive more than $300 million from the sale of Myricx, which is developing cancer-killing “biological missiles”, to Swiss giant Novartis.