Overview
- Novartis and Myricx announced Monday that Novartis will pay $1.1 billion upfront plus up to $400 million in milestone payments and expects the deal to close in H2 2026 subject to customary closing conditions and regulatory approvals.
- Myricx brings a next‑generation antibody‑drug conjugate (ADC) platform built around N‑myristoyltransferase inhibitors and two lead preclinical candidates directed at B7‑H3 and HER2.
- N‑myristoyltransferase (NMT) is an enzyme that helps certain proteins function inside cells and Myricx’s payloads are designed to block that enzyme to kill tumour cells, a mechanism that is distinct from common ADC payloads such as TOPO‑1 or tubulin inhibitors.
- The transaction rests on preclinical data that show activity across multiple solid tumour models, including some resistant to existing payloads, and Novartis and Myricx stress that clinical validation will be required to prove safety, dosing and real patient benefit.
- The sale rewards Myricx’s early investors after roughly $121 million raised and fits a broader industry pattern of large drugmakers buying specialised payload platforms to speed ADC innovation and expand treatment options for patients.