Novartis has agreed to acquire Myricx Bio for up to $1.5 billion, comprising $1.1 billion in upfront cash and additional milestone payments.
The transaction strengthens Novartis’ (NYSE: NVS) oncology pipeline by adding Myricx Bio’s next-generation N-myristoyltransferase inhibitor (NMTi) payload platform and two preclinical ADC candidates targeting B7-H3 and HER2. The acquisition represents the seventh exit for Sofinnova Partners in the past three years and is expected to close in the second half of 2026. Myricx Bio is a U.K.-headquartered transatlantic biotechnology company focused on developing a novel class of ADC payloads designed to improve the therapeutic window and tolerability of cancer treatments. Spun out of Imperial College London and the Francis Crick Institute, with support from Cancer Research U.K., the company was founded in 2019 by Professor Ed Tate, Roberto Solari and Andrew Bell. Mohit Rawat joined as CEO in 2025 to lead the company through its next phase of growth.