ZURICH: Swiss pharmaceutical giant Novartis has agreed to acquire UK-based biotechnology company Myricx Bio in a deal valued at up to $1.5 billion, expanding its oncology pipeline through advanced cancer treatment technologies.
Under the agreement announced on Monday, Novartis will pay $1.1 billion upfront, with an additional $400 million tied to future development and commercial milestones. The transaction is expected to close during the second half of 2026, subject to customary closing conditions.
Why Is Novartis Buying Myricx Bio?
London-based Myricx Bio specializes in developing antibody-drug conjugates (ADCs)—targeted cancer therapies that combine antibodies with potent anti-cancer drugs to attack tumor cells while minimizing damage to healthy tissue.
The acquisition aligns with Novartis’ strategy of strengthening its oncology portfolio by investing in innovative treatment platforms designed to address drug resistance and improve long-term patient outcomes.
What Did Novartis Say?
Fiona Marshall, President of Biomedical Research at Novartis, said ADCs have become a key component of modern cancer treatment but emphasized the need for next-generation technologies.
“ADCs have become an important part of cancer treatment, but there remains a clear need for new payload mechanisms to overcome resistance and expand their impact for patients.”
She added that the proposed acquisition supports the company’s broader strategy of scaling innovative therapeutic platforms, similar to its investments in radioligand therapies.
What Happens Next?
The acquisition is expected to be completed in the second half of 2026, pending regulatory approvals and customary closing requirements. Once finalized, Myricx Bio’s technology is expected to enhance Novartis’ research and development capabilities in targeted oncology treatments.