Novartis agreed to acquire UK biotech Myricx Bio in a deal valued at up to $1.5 billion, paying $1.1 billion upfront plus as much as $400 million in milestones. The transaction is set to close in the second half of 2026, subject to customary closing conditions. Myricx is developing antibody-drug conjugates that use N-myristoyltransferase inhibitor (NMTi) payloads rather than conventional chemotherapy warheads. In preclinical settings across multiple solid-tumor models, Novartis and Myricx say NMTi-ADCs drove durable tumor regression at well-tolerated doses, with lead programs directed at targets including B7-H3 and HER2. Executives framed the purchase as a way to broaden ADC payload diversification amid payload resistance and patent-expiry pressures in the field. Myricx’s NMTi mechanism is positioned as an orthogonal approach that may offer a differentiated toxicity profile and expand ADC utility beyond existing payload classes. The acquisition builds on VC backing that started in 2019, with Sofinnova Partners among Myricx’s longest investors, and follows a period of increased ADC dealmaking across large pharma and biopharma oncology pipelines.