6. Jul 2026
Description
(AWP Alliance News) - Novartis AG on Monday revealed it has agreed to acquire UK-based biotechnology company Myricx Bio Ltd to expand its cancer drug portfolio.
Under the terms of the agreement, the Basel, Switzerland-based pharmaceutical company will pay USD1.1 billion upfront, with up to USD400 million in potential milestone payments.
Novartis said the proposed purchase would add a potential first-in-class payload mechanism designed to overcome resistance seen with commonly used antibody-drug conjugate payloads.
Myricx is advancing two lead assets directed at the targets B7-H3 and HER2, with potential use across multiple solid tumour settings.
Novartis added that the agreement provides an opportunity to help establish N-myristoyltransferase inhibition, if validated clinically, as a new class of ADC that could be applied across additional targets and platforms.
"This proposed acquisition reflects our strategy to scale innovative platforms, as we have with radioligand therapies, to deliver more durable, transformative treatments for patients," said Fiona Marshall, president of Biomedical Research at Novartis.
The transaction is expected to close in the second half of 2026, subject to customary conditions and regulatory approvals.
Shares in Novartis ended 0.1% at CHF127.92 in Zurich on Friday.
By Judy Amaca, Alliance News reporter Asia-Pacific
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