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Sofinnova Partners Announces Myricx Bio Agrees to Be Acquired by Novartis
The deal includes $1.1 billion upfront and could expand Myricx Bio’s NMTi payload platform for antibody-drug conjugates, Novartis said.
- On Monday, Novartis agreed to acquire UK-based oncology company Myricx Bio for up to $1.5 billion, including $1.1 billion in upfront cash plus potential milestone payments.
- Myricx specializes in next-generation N-myristoyltransferase inhibitor payloads for antibody-drug conjugates , aiming to overcome toxicity and resistance limitations of earlier TOPO-1 and tubulin inhibitor classes.
- Brandon Capital and Sofinnova Partners, both venture capital firms, backed Myricx from its 2019 founding at Imperial College London. The company raised $114 million in a Series A during mid-2024 under CEO Mohit Rawat.
- Novartis plans to integrate Myricx's two lead ADC assets targeting B7-H3 and HER2 into its global oncology portfolio. Rawat said the combination will help "transform the landscape of cancer treatment" with more effective therapies.
- The transaction is expected to close in the second half of 2026, subject to regulatory approvals. This marks Sofinnova's seventh exit in three years, demonstrating its model of backing early-stage European biotechnology.
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Novartis to Buy Cancer-Drug Firm Myricx for Up to $1.5 Billion
Novartis AG agreed to buy British biotech Myricx Bio for as much as $1.5 billion, adding an experimental cancer drug designed to deliver more potent treatments directly to tumors while limiting damage to healthy cells.
·New York, United States
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Novartis to acquire UK-based Myricx Bio for up to $1.5 billion
ZURICH, July 6 (Reuters) - Swiss drugmaker Novartis said on Monday it had agreed to pay up to $1.5 billion for U.K.-based biotechnology firm Myricx Bio in a deal expected to close in the second half of 2026. In a statement, Novartis said it would...
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Total News Sources13
Leaning Left2Leaning Right3Center5Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 20%
C 50%
R 30%
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