Novartis to buy Myricx Bio for up to $1.5 billion, adding two novel ADCs to its oncology portfolio

Novartis announced it will acquire Myricx Bio, a UK‑based biotech that develops antibody drug conjugates (ADCs), in a move to broaden its oncology pipeline.

The transaction is valued at up to $1.5 billion, with $1.1 billion paid upfront and up to $400 million in milestone payments, and is expected to close before the end of the year.

The deal gives Novartis access to two ADC candidates that use a distinct mechanism to target tumor cell growth, addressing limitations of existing ADCs.

The acquisition reflects Novartis' strategy to expand its precision‑chemotherapy offerings and compete in the rapidly growing ADC market.