Basel, Switzerland | July 6, 2026, Novartis has announced a major step forward in its oncology strategy by agreeing to acquire UK-based biotechnology company Myricx Bio in a deal valued at up to USD 1.5 billion. The transaction includes USD 1.1 billion upfront and up to USD 400 million in milestone payments, highlighting Novartis' commitment to expanding its leadership in precision oncology, antibody-drug conjugates (ADCs), and targeted cancer therapies.
The acquisition is more than just another biotech deal. It reflects the growing industry focus on developing next-generation ADC payloads capable of overcoming treatment resistance, one of the biggest challenges in modern cancer care.
Unlike conventional ADC technologies that largely rely on TOPO-1 inhibitors or microtubule-disrupting payloads, Myricx Bio has developed an entirely new approach based on N-myristoyltransferase inhibitors (NMTi). This novel payload platform is designed to selectively destroy cancer cells while potentially addressing resistance that limits the effectiveness of existing ADC therapies.
Scientists believe this differentiated mechanism could expand treatment opportunities across multiple solid tumors, making it one of the most closely watched innovations in the rapidly growing ADC market.
Myricx Bio is currently advancing two lead ADC programs targeting B7-H3 and HER2, two well-established cancer biomarkers associated with several difficult-to-treat solid tumors. These programs are supported by encouraging preclinical data demonstrating activity even in TOPO-1 resistant tumor models, suggesting the platform may offer new hope where existing ADC payloads show reduced effectiveness.
If clinical development confirms these early findings, the technology could establish NMT inhibition as a completely new class of ADC payloads applicable across multiple oncology targets.
According to Fiona Marshall, President of Biomedical Research at Novartis, antibody-drug conjugates have already transformed cancer treatment, but there remains significant demand for innovative payload mechanisms that can improve durability, overcome resistance, and broaden patient access.
She noted that the Myricx platform aligns closely with Novartis' long-term strategy of scaling breakthrough technology platforms, similar to its investments in radioligand therapy, to deliver more transformative treatments for patients worldwide.
The science behind the platform focuses on N-myristoyltransferase (NMT), an enzyme required for the proper functioning of several proteins essential to cancer cell survival. By inhibiting NMT, Myricx's payload disrupts critical biological pathways that tumor cells depend on, ultimately leading to cancer cell death while enabling highly targeted drug delivery through ADC technology.
This mechanism has the potential to differentiate future ADC therapies from existing treatment options and may significantly broaden their use across oncology indications.
The acquisition also strengthens Novartis' already robust oncology research pipeline, which spans solid tumors, hematologic cancers, radioligand therapies, immuno-oncology, precision medicine, and targeted drug conjugates. As pharmaceutical companies increasingly invest in advanced biologics and precision therapeutics, novel ADC platforms are becoming one of the fastest-growing areas of cancer drug development.
Industry analysts view the transaction as another indication that innovative payload technologies are becoming strategically important assets in the global biotechnology sector.
The acquisition is expected to close during the second half of 2026, subject to customary closing conditions and regulatory approvals. Once completed, Novartis plans to integrate Myricx's technology into its global oncology research organization to accelerate future clinical development.
About Novartis
Novartis is one of the world's leading innovative medicines companies headquartered in Basel, Switzerland. For more than 30 years, the company has focused on discovering and developing breakthrough treatments across oncology, cardiovascular disease, immunology, neuroscience, hematology, and radioligand therapy. Through advanced research, precision medicine, AI-enabled drug discovery, and global clinical development, Novartis continues to deliver innovative therapies that improve patient outcomes worldwide.
About Myricx Bio
Myricx Bio is a private biotechnology company dedicated to discovering and developing innovative cancer therapeutics. The company has pioneered a completely new class of antibody-drug conjugate (ADC) payloads based on N-myristoyltransferase (NMT) inhibition, offering a differentiated approach to targeted cancer treatment.
Originally spun out from Imperial College London and the Francis Crick Institute, Myricx Bio is headquartered in London, United Kingdom, with research teams across the UK and the United States. The company is supported by leading life science investors including Abingworth, Brandon Capital Partners, British Business Bank, Cancer Research Horizons, Eli Lilly, Novo Holdings, and Sofinnova Partners, reflecting strong confidence in its next-generation oncology platform.