Novartis Acquires UK Biotech Myricx for $1.5 Billion in Landmark Oncology Pipeline Expansion

Novartis AG (NVS) has announced a definitive agreement to acquire UK-based Myricx Bio, a developer of innovative antibody-drug conjugate (ADC) technology, in a transaction valued at up to $1.5 billion.

Under the terms of the deal, Novartis gains access to Myricx’s proprietary N-myristoyltransferase inhibitors (NMTi) payload platform, along with two advanced ADC candidates targeting B7-H3 and HER2 proteins. The acquisition also includes a versatile payload platform designed for application across multiple solid tumor indications. This strategic move is expected to significantly enhance Novartis’ existing oncology product portfolio and development pipeline.

The transaction will be executed through an upfront payment of approximately $1.1 billion by Novartis, with potential additional milestone payments of up to $400 million contingent upon the achievement of specified clinical and regulatory milestones, ultimately bringing the total deal value to $1.5 billion.

The acquisition is anticipated to conclude in the second half of 2026, pending completion of standard closing conditions and receipt of all necessary regulatory approvals.

Myricx’s NMTi technology represents a novel approach to cancer therapy, targeting a lipid-modification process crucial for cancer cell proliferation. These inhibitors represent potential first-in-class ADC payloads with potential to treat multiple cancer types.

Recently, Novartis’ stock price has fluctuated between $112.34 and $170.46 over the past year.

On Thursday’s closing bell, NVS shares closed at $159.90, demonstrating a 3.74% increase for the day.

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.

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