News Article
Novartis buys Myricx Bio in $1.5bn deal
Swiss drug and health care company Novartis has acquired London based biotech Myricx Bio in a deal valued at up to $1.5bn
Announced on July 6, the deal comprises a substantial $1.1bn upfront cash payment and $400 million in potential milestones. The transaction is expected to close in the second half of 2026, subject to customary regulatory approvals.
Myricx Bio is a UK biotechnology company that discovers and develops antibody-drug conjugates (ADCs) for cancer treatment. For European healthcare investors, this move underscores the premium currently placed on differentiated technologies that can address limitations in existing cancer therapies.
The transaction demonstrates the potential value of ADC payloads that are a departure from the standard toxic payloads most commonly used, including microtubule inhibitors and DNA-damaging agents.
Founded in 2019, Myricx Bio benefitted from a robust European life sciences ecosystem, including backing from Sofinnova Partners, Novo Holdings, and Abingworth. The deal provides a successful exit for these early stage backers.
