Novartis to Acquire UK Biotech Myricx Bio for Up to $1.5 Billion

Jul 6, 2026

Novartis AG agreed to acquire British biotech Myricx Bio for up to $1.5 billion, marking the Swiss drugmaker's entry into the antibody-drug conjugate (ADC) market. Novartis will pay $1.1 billion upfront and up to $400 million in milestones. The deal, expected to close in the second half of 2026, grants Novartis two lead ADC candidates targeting HER2 and B7-H3 proteins using a novel N-myristoyltransferase inhibitor payload mechanism to overcome drug resistance.

Novartis acquisition of Myricx Bio

▪Novartis AG agreed to acquire London-based biotechnology firm Myricx Bio for up to $1.5 billion.
▪Novartis AG will pay Myricx Bio shareholders $1.1 billion upfront and up to $400 million in potential milestone payments.
▪The acquisition of Myricx Bio by Novartis AG is expected to close in the second half of 2026.

Myricx ADC pipeline

▪Myricx Bio received seed investment from Brandon Capital and Sofinnova Partners in 2019, with later backing from Eli Lilly and Novo Holdings.
▪Myricx Bio was spun out of Imperial College London and the Francis Crick Institute with support from Cancer Research UK.
▪Myricx Bio is developing two lead antibody-drug conjugate candidates that target tumors positive for HER2 and B7-H3 proteins.

NMTi enzyme inhibitor mechanism

▪The N-myristoyltransferase inhibitor payload is designed to deliver potent treatments directly to tumor cells while limiting damage to healthy cells.
▪Myricx Bio's platform utilizes a next-generation inhibitor of the enzyme N-myristoyltransferase to disrupt cancer cell growth and address drug resistance.

ADC market competition

▪AstraZeneca and Daiichi Sankyo's Enhertu has become a top-selling antibody-drug conjugate in the oncology market.
▪Antibody-drug conjugates have grown in popularity as precision chemotherapies, with companies like Eli Lilly, AbbVie, and Merck & Co. seeking to expand their use.

Novartis oncology strategy

▪Novartis AG has previously focused its oncology platform expansion on radiopharmaceuticals, marketing products such as Lutathera and Pluvicto.
▪The acquisition of Myricx Bio marks the first entry of Novartis AG into the development of antibody-drug conjugates.