Novartis to Acquire UK-Based Myricx Bio for $1.5 Billion
The deal includes $1.1 billion upfront and could expand Myricx Bio’s NMTi payload platform for antibody-drug conjugates, Novartis said.
- On Monday, Novartis agreed to acquire UK-based oncology company Myricx Bio for up to $1.5 billion, including $1.1 billion in upfront cash plus potential milestone payments.
- Myricx specializes in next-generation N-myristoyltransferase inhibitor payloads for antibody-drug conjugates , designed to overcome toxicity and resistance issues limiting earlier generations such as TOPO-1 and tubulin inhibitors.
- Brandon Capital and Sofinnova Partners backed the company from its 2019 founding at Imperial College London; Myricx raised €90 million in a Series A round mid-2024 led by Novo Holdings and Abingworth.
- Novartis plans to integrate Myricx's two lead ADC assets targeting B7-H3 and HER2 into its oncology portfolio. CEO Mohit Rawat said the deal will help "transform the landscape of cancer treatment" with more effective, better-tolerated options.
- The transaction is expected to close in the second half of 2026, subject to regulatory approvals. This marks Sofinnova Partners' seventh exit in three years, validating its model of backing early-stage European life sciences companies.
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Novartis to acquire UK-based Myricx Bio for up to $1.5 billion
Patent cliff fuels Novartis' $1.5bn swoop for London biotech
Swiss pharmaceutical giant Novartis has agreed to buy London-based biotech Myricx Bio for up to $1.5bn (£1.1bn) as global drugmakers continue deploying billions into promising biotech firms ahead of an estimated $450bn wave of patent expiries over the next decade. The deal will see Novartis pay $1.1bn upfront, with a further $400m tied to development milestones, for the Imperial College London spinout, which is developing next-generation antibod…
The large pharmaceutical companies are strengthening their oncology departments through billion-dollar acquisitions. Novartis is buying a company that has two active ingredients in its quiver that can overcome resistance.
Novartis reported that it agreed to pay up to $1.5 billion for Myricx Bio, in an attempt to strengthen its portfolio in the midst of competition from the sector for cancer drugs. Exclusive material for subscribers. To have full access, access the link of the material and register.
Novartis buys UK biotech Myricx for up to $1.5bn to chase a new cancer-drug class
Novartis has agreed to buy Myricx Bio, a small British oncology company, for up to $1.5bn, adding an early-stage but potentially significant technology to a cancer pipeline the industry keeps racing to expand. The Swiss group will pay $1.1bn upfront, with up to $400m more tied to milestones, in a deal that fits the pattern […] This story continues at The Next Web
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