Novartis is expanding its presence in the antibody-drug conjugate (ADC) field by agreeing to acquire Myricx Bio in a deal that includes an upfront payment of $1.1 billion. The acquisition gives the Swiss drugmaker access to a pipeline built around a novel payload technology.
While many of its pharmaceutical rivals aggressively expanded their ADC portfolios in recent years, Novartis largely remained inactive. Company executives had previously indicated that Novartis was progressing internal ADC research while monitoring external opportunities, choosing instead to make targeted radioligand therapies (RLTs) the primary focus of its oncology strategy.
The company has now identified a platform it believes justifies a greater commitment to ADC development. London-based Myricx Bio is developing antibody-drug conjugates that use N-myristoyltransferase inhibitor (NMTi) payloads.
The FDA has already given the green light to ADCs that rely on several different payload technologies. For example, Enhertu from Daiichi Sankyo and AstraZeneca delivers a topoisomerase I (TOPO-1) inhibitor, while Padcev, developed by Pfizer and Astellas, uses a microtubule inhibitor. Novartis believes NMTi payloads represent a distinct approach that could overcome treatment resistance and address other shortcomings associated with current payload technologies, potentially extending the benefits of ADCs across a broader range of tumor types.
Research conducted by Myricx and its collaborators showed that NMTi payloads selectively destroy senescent cells, which are known to contribute to tumor progression. In preclinical solid tumor models, NMTi-based ADCs targeting B7-H3, HER2, and TROP2 matched or outperformed TOPO-1-based therapies directed at the same targets.
The biotech selected its HER2- and B7-H3-targeted ADCs as its lead development programs. Those choices place the company in direct competition with several established and emerging therapies. The FDA approved the HER2-directed ADC Enhertu in 2019, and AstraZeneca reported annual sales of nearly $3 billion for the product last year. Meanwhile, the FDA is conducting a priority review of ifinatamab deruxtecan, a B7-H3-targeted ADC being developed by Merck & Co. and Daiichi Sankyo.
Because competing companies have already demonstrated that HER2 and B7-H3 are effective ADC targets, Myricx’s lead programs carry a lower level of development risk. Existing clinical evidence has shown that therapies directed at these targets can improve results for patients with solid tumors. The remaining key challenge is determining whether Myricx’s NMTi technology can outperform current treatments by overcoming TOPO-1 resistance or proving effective in settings where existing payloads have constraints.
The HER2 and B7-H3 programs are expected to serve as the first clinical test of the NMTi platform. If the technology is successfully validated, Novartis believes it could establish NMTi as an entirely new class of ADC payload suitable for a wider range of targets and therapeutic platforms. The agreement also includes milestone payments of up to $400 million tied to the progress of Myricx’s pipeline.
The acquisition is consistent with comments made by Oncology expert Shiva Malek, who explained that Novartis is focused on delivering payloads that are closely matched to tumor biology and indicated that the company was evaluating how broad cytotoxic ADCs could complement its radioligand therapy portfolio.
Myricx, a UK-based biotechnology company specializing in antibody-drug conjugate (ADC) technology, is set to be acquired by Novartis in a transaction valued at more than $1.1 billion. The acquisition represents a significant strategic investment that will strengthen Novartis’ oncology pipeline while enabling Myricx to accelerate the development of its innovative cancer therapies through the support of a global pharmaceutical leader.
Myricx Joins the Novartis Oncology Portfolio
The proposed acquisition highlights the growing importance of Myricx in the rapidly expanding field of targeted cancer treatments. By bringing Myricx into its research organization, Novartis gains access to advanced ADC technologies designed to selectively deliver cancer-fighting drugs to tumor cells while minimizing damage to healthy tissues.
The transaction aligns with Novartis’ long-term strategy of expanding its portfolio of precision oncology medicines.
Following the completion of the transaction, Myricx is expected to continue advancing its research programs within Novartis’ global development network. The additional financial resources and scientific infrastructure could accelerate clinical trials, regulatory submissions, and future commercialization efforts.
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