Novartis Signs USD 1.5 Billion Deal to Buy UK-Based Cancer Drug Developer Myricx Bio
New Delhi: Novartis has announced that it has entered into an agreement to acquire Myricx Bio ("Myricx"), a privately held UK-based biotechnology company developing a new class of antibody-drug conjugates (ADCs), using N-myristoyltransferase inhibitor (NMTi) payloads.
The proposed acquisition would strengthen the Novartis oncology pipeline and advance next-generation targeted drug conjugates with novel payload mechanisms. Myricx’s approach is designed to deliver a differentiated cancer-killing payload directly to tumor cells, with the potential to address limitations of commonly used ADC payload classes such as TOPO-1 inhibitors. Myricx is developing two lead assets directed towards the targets B7-H3 and HER2, with potential across multiple solid tumor settings.
“ADCs have become an important part of cancer treatment, but there remains a clear need for new payload mechanisms to overcome resistance and expand their impact for patients,” said Fiona Marshall, President of Biomedical Research at Novartis.
“Myricx Bio has developed a promising NMTi payload platform with a differentiated mechanism that could broaden the use of ADCs across multiple tumor settings. This proposed acquisition reflects our strategy to scale innovative platforms, as we have with radioligand therapies, to deliver more durable, transformative treatments for patients.”
NMT is an enzyme that helps important proteins function inside cells, which is essential for how cancer cells grow and survive. By inhibiting NMT, Myricx’s payload is designed to disrupt critical processes that cancer cells rely on. Preclinical data suggest this novel NMTi payload may have broad activity across solid tumors, including TOPO-1 resistant models, and may enable more effective use of ADCs in settings where existing payload classes have limitations.
More broadly, this agreement would give Novartis the opportunity to help establish NMTi, if clinically validated, as a new class of ADC payloads that could be applied across additional targets and platforms.
Under the terms of the agreement, Novartis will pay USD 1.1bn upfront, with up to USD 400m in potential milestone payments to acquire Myricx Bio. The transaction is expected to close in H2 2026, subject to the satisfaction or waiver of customary closing conditions, including regulatory approvals.
The Novartis Oncology strategy focuses on people living with cancer and those who care for them, from loved ones to clinical care teams, including their providers. For the past 30+ years, the aim has been to extend and improve lives by discovering differentiated, innovative and practice-changing medicines for patients.
As Novartis reimagines medicine, it collaborates with a wide range of patient advocacy groups and supports education, early cancer screening and diagnosis. With a broad research and development portfolio across solid tumors, hematology and radioligand therapy, Novartis is committed to using technology, leading science and patient-centered research to deliver pioneering cancer care for all those in need.
Novartis is an innovative medicines company. Every day, we work to reimagine medicine to improve and extend people’s lives so that patients, healthcare professionals and societies are empowered in the face of serious disease. Our medicines reach more than 300 million people worldwide.
