Novartis is significantly expanding its oncology portfolio after securing an antibody-drug conjugate (ADC) technology designed to deliver potent anticancer agents directly to tumor cells. At the center of the acquisition is a specialized platform for designing the ADC “payload”—the specific drug component that destroys cancer cells—using a mechanism that differs fundamentally from existing therapies. Industry observers are watching closely to see if this new approach can successfully address resistance issues and other clinical limitations seen with current-generation ADCs.
The Swiss drugmaker announced on July 6 (local time) that it has agreed to acquire the UK-based biotechnology firm Myricx Bio. Under the terms of the agreement, Novartis will make an upfront cash payment of $1.1 billion (approximately 1.7 trillion won), with up to $400 million (approximately 600 billion won) in additional development-based milestone payments on the table. The total potential transaction value reaches $1.5 billion (approximately 2.3 trillion won). The acquisition is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions.
Myricx Bio is an innovative biotech company specializing in a completely new class of payloads within the rapidly growing ADC landscape. ADCs are targeted cancer therapies that attach a potent cytotoxic drug to an antibody that homes in precisely on malignant cells. When the antibody recognizes and binds to a specific target on the surface of a cancer cell, the linked therapy enters the cell to destroy it from within. This core mechanism allows clinicians to deliver high doses of medicine directly to tumors while minimizing collateral damage to healthy surrounding tissue.
Historically, Novartis has placed a heavier strategic emphasis on radioligand therapy (RLT) rather than ADCs within its core oncology franchise. RLT attacks cancer cells by binding radioactive isotopes directly to tumor-seeking molecules. However, as global pharmaceutical competitors have aggressively moved to secure dominant ADC technologies in recent years, Novartis is now taking decisive steps to significantly strengthen its own competitive pipeline in the space.
Harnessing NMTi Payloads to Break Through Clinical Hurdles
Myricx Bio’s core value lies in its proprietary platform that utilizes N-myristoyltransferase inhibitors (NMTi) as ADC payloads. Most major, commercially approved ADCs currently rely on topoisomerase I inhibitors or microtubule inhibitors to destroy tumor cells. For example, AstraZeneca and Daiichi Sankyo’s blockbuster drug Enhertu uses a topoisomerase I inhibitor, while Astellas Pharma and Pfizer’s Padcev delivers a payload that disrupts cellular microtubules.
In contrast, NMTi operates through an entirely distinct biological pathway. N-myristoyltransferase is a critical enzyme involved in regulating vital protein functions inside cells, which malignant cells depend heavily upon to grow and survive. Myricx Bio is developing a strategy that uses compounds designed to block this enzyme as an ADC payload to selectively disrupt cancer cell survival. Novartis believes this mechanism could circumvent payload resistance issues often triggered by repeated use of traditional ADC therapies, potentially expanding treatment options across a wider variety of solid tumors.
Myricx Bio is currently advancing candidates targeting B7-H3 and HER2 as its lead pipeline assets. Both are highly validated cancer targets with proven success in international ADC development. Enhertu, which targets HER2, originally received U.S. Food and Drug Administration (FDA) approval in 2019, while ifinatamab deruxtecan, a competing B7-H3-targeting ADC developed by Daiichi Sankyo and Merck, was recently accepted for FDA priority review as a treatment for extensive-stage small cell lung cancer.
