Novartis has agreed to acquire UK-based biotechnology company Myricx Bio for an upfront payment of $1.1 billion, with up to $400 million in additional milestone payments, as it looks to expand its oncology pipeline with a new class of antibody-drug conjugate payloads.
The proposed acquisition is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approvals. If completed, the deal would give Novartis access to Myricx Bio’s N-myristoyltransferase inhibitor, or NMTi, payload platform, which is being developed for use in next-generation antibody-drug conjugates.
ADCs are targeted cancer therapies that combine an antibody with a cytotoxic payload. The antibody is designed to recognize a specific protein on tumor cells and deliver the payload directly to those cells. While ADCs have become an increasingly important treatment approach in oncology, many current therapies rely on a relatively limited number of payload classes, including topoisomerase I inhibitors.
Novartis said Myricx’s NMTi payload technology could provide a differentiated mechanism for treating cancer and may help address resistance to existing ADC payload classes. Myricx is developing two lead ADC programs directed at B7-H3 and HER2, targets that are associated with several solid tumors.
The company’s approach focuses on inhibiting N-myristoyltransferase, an enzyme involved in helping certain proteins function inside cells. Cancer cells rely on these proteins for growth and survival, and NMT inhibition is designed to disrupt key cellular processes required for tumor progression.
Preclinical findings suggest that Myricx’s NMTi payload may demonstrate activity across a range of solid tumors, including models that are resistant to topoisomerase I inhibitor-based therapies. However, the platform and its lead programs will need to demonstrate safety and clinical benefit in human studies before their potential can be confirmed.
Fiona Marshall, president of biomedical research at Novartis, said the acquisition supports the company’s strategy of scaling innovative oncology technology platforms that could deliver more durable treatment options.
She noted that while ADCs have become an important component of cancer care, there remains a need for novel payload mechanisms that can overcome treatment resistance and expand the benefit of targeted drug conjugates.
The transaction could also position Novartis to establish NMT inhibition as a new ADC payload class, if the approach is clinically validated. Beyond Myricx’s B7-H3 and HER2 programs, the platform may potentially be applied to additional tumor targets and targeted drug conjugate formats.
The deal adds to Novartis’ broader oncology strategy, which includes research and development programs across solid tumors, hematologic malignancies and radioligand therapies. The company has continued to invest in targeted approaches that pair innovative science with delivery technologies designed to improve the therapeutic window for cancer medicines.
By acquiring Myricx, Novartis is seeking to strengthen its early-stage oncology portfolio while gaining access to a potentially differentiated payload platform that could support future ADC programs across multiple cancer types.