On July 6, Novartis announced that it has entered into an agreement to acquire Myricx Bio, a UK-based private biotechnology company focused on developing a new generation of antibody-drug conjugates (ADCs) powered by novel N-myristoyltransferase inhibitor (NMTi) payloads.

Under the agreement, Novartis will pay $1.1 billion, including an upfront payment of $700 million and up to $400 million in potential milestone payments. The transaction is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approvals.

The acquisition will further strengthen Novartis’ oncology pipeline by adding Myricx Bio’s differentiated NMTi payload platform, which aims to address limitations of existing ADC payload classes such as TOP1 inhibitors. By delivering novel anti-cancer mechanisms directly to tumor cells, the technology has the potential to expand the application of ADC therapies across a broader range of solid tumors.

Myricx Bio’s leading programs focus on B7-H3 and HER2 targets, with preclinical data demonstrating promising activity across multiple solid tumor models, including those with resistance to existing payload mechanisms. The company’s NMTi approach is designed to disrupt essential cellular processes that cancer cells rely on for growth and survival.

This acquisition reflects Novartis’ continued investment in innovative oncology platforms and next-generation targeted therapies. By integrating Myricx Bio’s NMTi technology, Novartis aims to advance new ADC solutions with broader therapeutic potential and create more durable treatment options for cancer patients worldwide.