Novartis ($NOVN.S) agreed $1.5bn acquisition of UK biotech Myricx Bio

Novartis agreed to acquire UK-based biotech Myricx Bio for up to $1.5 billion, expanding its oncology pipeline through antibody-drug conjugate (ADC) technology.

The deal includes an upfront payment of $1.1 billion and up to $400 million in milestone payments. Novartis said the transaction is expected to close in the second half of 2026.

Myricx Bio develops ADC therapies designed to treat cancer, an area Novartis identified as a strategic priority as it seeks to strengthen its oncology portfolio and expand its innovative treatment platforms.