Novartis has agreed to acquire London-based Myricx Bio in a deal valued at up to $1.5 billion, according to investor Sofinnova Partners. The transaction includes $1.1 billion in cash upfront, with additional milestone payments that could bring the total consideration to $1.5 billion.
Myricx Bio is a private biotech company developing cancer therapeutics and is known for its work on a novel class of antibody-drug conjugate payloads based on inhibition of N-myristoyltransferase. The company’s platform is aimed at improving the therapeutic profile of ADCs, an area that has drawn increasing interest across oncology.
The proposed acquisition gives Novartis access to Myricx Bio’s ADC assets and platform as large drugmakers continue to expand their oncology pipelines through dealmaking. The transaction is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approvals.
Myricx Bio is a private biotech company developing cancer therapeutics and is known for its work on a novel class of antibody-drug conjugate payloads based on inhibition of N-myristoyltransferase. The company’s platform is aimed at improving the therapeutic profile of ADCs, an area that has drawn increasing interest across oncology.
The proposed acquisition gives Novartis access to Myricx Bio’s ADC assets and platform as large drugmakers continue to expand their oncology pipelines through dealmaking. The transaction is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approvals.