Novartis agreed to acquire UK biotech Myricx Bio for $1.1 billion upfront, with up to $400 million more in milestones, expanding the Swiss company’s antibody-drug conjugate (ADC) portfolio. The preclinical deal is expected to close in the second half of 2026 and adds a differentiated payload approach based on N-myristoyltransferase (NMT) inhibitors. Myricx’s technology uses NMT inhibitors as ADC payloads rather than conventional chemotherapy warheads, aiming to disrupt cancer-cell survival pathways directly from within tumor cells. The company’s lead programs target B7-H3 and HER2 across multiple solid-tumor settings, and Novartis says two programs are due to enter clinical development before the end of the year. Sofinnova Partners has been a long-time backer of Myricx, including through a £90 million Series A in 2024. Novartis framed the acquisition as a way to scale innovative platforms, positioning NMT inhibitor payloads as a potential alternative where existing ADC payloads face resistance or patent expiry pressure.