Novartis Agrees Monday July 6 to Acquire UK Biotech Myricx Bio for Up to $1.5 Billion ($1.1 Billion Cash Upfront Plus Milestones) to Advance a Next-Generation N-Myristoyltransferase Inhibitor (NMTi) Antibody-Drug Conjugate Payload Platform With Two Lead Assets Targeting B7-H3 and HER2 Across Multiple Solid-Tumor Settings; Transaction Expected to Close in H2 2026 Subject to Customary Closing Conditions Including Regulatory Approvals
Novartis announced Monday July 6, 2026 that it has entered into a definitive agreement to acquire UK biotech Myricx Bio for up to $1.5 billion ($1.1 billion cash upfront plus potential milestone payments) to advance next-generation ADC payload innovation. Myricx Bio developed a first-in-class N-myristoyltransferase inhibitor (NMTi) payload platform. NMT is an enzyme that maintains the function of certain proteins inside cells, and cancer cells rely on it to grow and survive; blocking NMT with a payload delivered via ADC disrupts those processes directly inside tumor cells. Myricx's two lead assets target B7-H3 and HER2 across multiple solid-tumor settings. The transaction is expected to close in H2 2026 subject to customary closing conditions including regulatory approvals. The deal extends the payload-and-linker chemistry infrastructure that peptide-drug conjugates (PDCs), ADCs, and adjacent bioconjugate modalities share. Novo Holdings (through its portfolio company backing of Myricx) and Sofinnova Partners were among the pre-deal investors. Endpoints News framed the transaction as another 2026 signal that payload innovation, not antibody targeting alone, is driving competitive differentiation in the next-generation ADC race.