Novartis agrees to buy Myricx Bio for up to $1.5 billion

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Novartis has agreed to acquire U.K.-based Myricx Bio for up to $1.5 billion, with $1.1 billion paid upfront and up to $400 million in milestone payments, in a deal expected to close in the second half of 2026. Myricx develops antibody-drug conjugates (ADCs) for cancer treatment, and Novartis said the acquisition supports its strategy to scale innovative platforms and to pursue new payload mechanisms to overcome ADC resistance. The purchase reinforces Novartis's focus on oncology platform building and could accelerate development of new ADC payloads within its pipeline.

Novartis will acquire Myricx Bio for up to $1.5 billion.