Novartis to acquire Myricx Bio for up to $1.5B in cancer drug push

• Novartis agreed to acquire Myricx Bio for up to $1.5 billion to expand its cancer drug portfolio.
• The deal includes $1.1 billion upfront and up to $400 million in milestone payments.
• The acquisition adds a new antibody-drug conjugate (ADC) payload platform targeting drug-resistant cancers.

Novartis (NYSE:NVS) has agreed to acquire Myricx Bio, a U.K.-based biotechnology company, in a transaction valued at up to $1.5 billion.

The deal includes $1.1 billion payable at signing and up to $400 million in additional payments tied to future development milestones.

The acquisition adds Myricx Bio’s antibody-drug conjugate (ADC) payload platform to Novartis’ oncology pipeline.

Myricx Bio is developing therapies targeting proteins such as B7-H3 and HER2, which are commonly overexpressed in multiple cancers.

The company’s platform is based on inhibiting the enzyme N-myristoyltransferase (NMT), which is essential for cancer cell growth.

Novartis said the platform could help address resistance to existing ADC payload classes such as TOPO-1 inhibitors.

The deal reflects a broader industry trend of pharmaceutical companies expanding into next-generation ADC technologies.