Novartis Acquires Myricx Bio in Up to $1.5bn Deal to Strengthen ADC Pipeline

The acquisition adds a novel antibody-drug conjugate payload platform and two preclinical oncology programmes targeting hard-to-treat solid tumours.

Novartis has agreed to acquire UK-based biotechnology company Myricx Bio in a deal worth up to $1.5 billion, further expanding its oncology portfolio and strengthening its position in the rapidly growing antibody-drug conjugate (ADC) market.

The acquisition includes Myricx’s proprietary N-myristoyltransferase inhibitor (NMTi) payload platform, alongside two lead preclinical ADC programmes targeting B7-H3 and HER2 for the treatment of solid tumours.

The transaction is expected to complete later this year.

Expanding the Next Generation of ADC Payloads

Rather than focusing solely on new tumour targets, the acquisition centres on payload innovation—the cancer-killing component carried by an antibody-drug conjugate.

Myricx has developed a new class of N-myristoyltransferase inhibitor (NMTi) payloads, designed to block an enzyme that plays a critical role in protein function and cancer cell survival.

By inhibiting NMT, the payload disrupts multiple biological processes required for tumour growth, offering a differentiated mechanism compared with traditional ADC payloads.

Preclinical studies have demonstrated promising activity across solid tumours, including models resistant to topoisomerase I (TOPO-1) inhibitors, one of the most widely used ADC payload classes today.

Strengthening Novartis' Oncology Strategy

The acquisition reflects Novartis' continued investment in oncology and its ambition to expand beyond established ADC technologies.

The deal brings two lead preclinical candidates into the company's pipeline:

• A B7-H3-targeted ADC

• A HER2-targeted ADC
  

Both programmes are designed to exploit Myricx's proprietary NMTi payload technology, potentially broadening treatment options for patients with difficult-to-treat solid tumours.

Novartis believes novel payload mechanisms will be essential for overcoming resistance and extending the effectiveness of ADC therapies into new cancer settings.

Deal Structure

Under the terms of the agreement:

• $1.1 billion will be paid upfront.

• Myricx shareholders are eligible for up to $400 million in additional development and commercial milestone payments.
  

The transaction represents another significant investment in oncology innovation, with total deal value reaching $1.5 billion.

From Academic Spin-Out to Billion-Dollar Acquisition

Founded in 2020, Myricx Bio emerged as a spin-out from Imperial College London and the Francis Crick Institute.

The company secured a £90 million ($114 million) Series A financing in 2024, attracting backing from leading healthcare investors including Novo Holdings, Eli Lilly, and Sofinnova Partners.

The biotech appointed Mohit Rawat as CEO in September 2025 as it advanced its ADC platform towards clinical development.

Why the Deal Matters

The acquisition reflects several wider trends across oncology drug development:

• Pharmaceutical companies are investing heavily in next-generation ADC technologies.

• Innovation is increasingly shifting beyond antibody targets to include novel payload mechanisms.

• Companies are seeking new approaches to overcome treatment resistance in solid tumours.

• Platform acquisitions continue to attract significant premiums as competition for differentiated oncology technologies intensifies.
  

Summary

Novartis has agreed to acquire Myricx Bio in a deal worth up to $1.5 billion, adding a novel ADC payload platform and two preclinical cancer programmes to its oncology pipeline.

By investing in differentiated payload technology rather than traditional ADC approaches alone, Novartis is positioning itself to address treatment resistance and broaden the future application of antibody-drug conjugates across multiple solid tumour indications.

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