Novartis acquires British biotech firm Myricx Bio for up to $1.5 billion

Myricx Bio's technology aims to overcome resistance to existing ADC therapies. This could benefit patients in the future for whom existing treatments are losing effectiveness.

According to the information available, Myricx Bio is developing two main substances that could be used in various solid tumors. Which indications are specifically in focus was not detailed in the announcement.

Novartis describes Myricx Bio's approach as a way to bring differentiated mechanisms for fighting cancer directly into tumor cells. The acquisition is thus part of the Basel-based group's broader strategy of systematically expanding its cancer drug portfolio.

Who is Myricx Bio?

Myricx Bio remains a privately held company headquartered in the United Kingdom. The deal was announced on the day of publication.

The closing of the transaction is expected in the second half of 2026 and is subject to the usual regulatory approvals. Until completion, the two companies will continue to operate separately.

Strategic significance for Novartis

With the acquisition, Novartis is continuing its ongoing consolidation strategy in the oncology field. In recent quarters, the group has completed several smaller biotech acquisitions to bundle research capacities in cancer medicine.

At the same time, market participants have been observing the ADC field for some time as one of the most dynamic areas of cancer research. Corresponding therapies are intended to attack tumor cells more precisely and spare healthy tissue to a greater extent than conventional chemotherapy.

For Novartis, the acquisition is a further building block in competing with other pharmaceutical companies in innovative cancer therapies. Industry observers see the comparatively high purchase price as an indication of how sought-after such ADC technologies currently are.

The transaction also brings expertise in antibody-drug conjugation into the Novartis research group and complements existing in-house programs in this area.

Overall, according to Novartis, the closing of the deal is expected to take place only in a few months – due in part to antitrust and regulatory reviews in several jurisdictions.