Novartis AG (NYSE:NVS) has agreed to acquire privately held U.K. biotechnology company Myricx Bio in a deal valued at up to $1.5 billion, as the drugmaker looks to strengthen its oncology pipeline with a new class of antibody-drug conjugates (ADCs).
The acquisition would add Myricx’s N-myristoyltransferase inhibitor (NMTi) payload platform, which is designed to deliver targeted cancer therapies with a novel mechanism aimed at overcoming limitations of existing ADC treatments.
Deal Terms
Under the agreement, Novartis will pay $1.1 billion upfront to acquire Myricx Bio, with up to $400 million in additional milestone payments.
The transaction is expected to close during the second half of 2026.
Novel ADC Platform Targets Resistant Tumors
According to Novartis, Myricx has developed a differentiated ADC platform that uses NMTi payloads to selectively target tumor cells.
The company believes the technology could address some of the challenges associated with widely used ADC payloads, including TOPO-1 inhibitors.
Myricx is currently advancing two lead programs targeting B7-H3 and HER2, with potential applications across multiple solid tumor types.
Fiona Marshall, president of Biomedical Research at Novartis, said ADCs have become an important component of cancer treatment but noted there remains a need for new payload mechanisms that can overcome treatment resistance and expand patient benefit.
Marshall said Myricx’s NMTi platform offers a differentiated approach that could broaden the use of ADCs across several tumor settings.
Technology Could Expand Future ADC Applications
N-myristoyltransferase is an enzyme required for the proper functioning of proteins that help cancer cells grow and survive. Myricx’s approach is designed to inhibit the enzyme, disrupting critical cellular processes that tumors depend on.
Novartis said preclinical data suggest the NMTi payload has broad activity across solid tumors, including models resistant to TOPO-1 inhibitors.
If clinically validated, the platform could establish NMTi as a new class of ADC payloads that may be applied to additional drug targets and therapeutic platforms.
NVS Price Action: Novartis shares were down 2.89% at $155.28 at the time of publication on Monday, according to Benzinga Pro data.
Photo via Shutterstock
Recent Comments