Novartis has agreed to acquire Myricx Bio for up to $1.5 billion, gaining access to a novel antibody-drug conjugate platform that targets cancer cells with N-myristoyltransferase inhibitor payloads. The UK-based biotech's approach aims to overcome limitations of current ADC payload classes, including toxicity to healthy cells, tumor resistance, and dose-limiting adverse events.
The deal underscores the intensifying race among big pharma to secure next-generation ADC technologies. Myricx's NMTi payloads represent a differentiated mechanism designed to deliver cytotoxic agents directly to tumor cells while potentially sparing normal tissue, a key challenge in oncology drug development.
Novartis will pay an undisclosed upfront sum with additional milestone payments potentially reaching $1.5 billion in total. The transaction is expected to close in the coming quarters, subject to regulatory approvals. It marks another major ADC acquisition for Novartis, following its $3.2 billion purchase of MorphoSys earlier this year.
For Novartis, the acquisition bolsters its oncology pipeline with a platform that could complement existing programs and target indications where current ADCs have shown limited efficacy. The company has not disclosed specific development plans or target indications for the Myricx technology.
Financial details beyond the headline figure remain undisclosed, and no clinical data from Myricx's pipeline have been publicly reported. The deal's success depends on whether NMTi-based ADCs can deliver on their promise in human trials, where many preclinical ADC concepts have stumbled.