Novartis has agreed to acquire Myricx Bio, a privately held London-based bio/pharmaceutical company developing antibody-drug conjugates (ADCs), in a deal worth up to $1.5 billion ($1.1 billion upfront and $400 million in milestone payments).  

Myricx is developing ADCs using N-myristoyltransferase inhibitor (NMTi) payloads, which are designed to address limitations of commonly used ADC payload classes such as TOPO-1 inhibitors. NMT is an enzyme that helps proteins function inside cells, which is essential for how cancer cells grow and survive, and by inhibiting NMT,  the payload is designed to disrupt processes that cancer cells rely on. Preclinical data suggest the NMTi payload may have broad activity across solid tumors, including TOPO-1 resistant models, and may enable more effective use of ADCs in settings where existing payload classes have limitations, according to information from Novartis. The acquisition would give Novartis the opportunity to help establish NMTi, if clinically validated, as a new class of ADC payloads that could be applied across additional targets and platforms. Myricx is developing two lead assets directed toward the targets, B7-H3 and HER2, with potential across multiple solid tumor settings.

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

Source: Novartis