Novartis agreed on 6 July to acquire London-based Myricx Bio for $1.1bn upfront and up to $400m in further milestone payments.
Why Novartis AG is buying Myricx Bio
Novartis said Myricx's payloads, which inhibit the enzyme N-myristoyltransferase, offer a differentiated mechanism that could address the limits of established payload classes such as topoisomerase-1 and tubulin inhibitors, to which tumours can become resistant.
“Myricx Bio has developed a promising NMTi payload platform with a differentiated mechanism”
Deal terms and financing
Myricx shareholders receive $1.1bn in cash at closing and up to $400m in milestones. The company raised a £90m Series A in 2024 led by Novo Holdings and Abingworth, after seed funding from Brandon Capital and Sofinnova Partners.
Regulatory approvals and timing
The deal was expected to close in the second half of 2026 subject to regulatory approvals; Brandon Capital said Myricx became an indirect wholly owned subsidiary of Novartis on 28 August 2026.
Market context
Myricx was founded in 2019 as a spin-out from Imperial College London and the Francis Crick Institute, with support from Cancer Research UK. It was Novartis's third acquisition of 2026, after Excellergy and Pikavation Therapeutics.
