Novartis to Acquire Myricx Bio for $1.1 Billion
Key Takeaways
- Novartis is buying Myricx to internalize an NMTi-based ADC payload platform intended to expand ADC applicability and differentiation via a new mechanism of action.
- Sector momentum for ADCs remains strong, with modality growth projections through 2026 reinforcing strategic value for payload innovation and pipeline optionality.
The acquisition adds Myricx’s NMTi ADC delivery platform to Novartis’ pipeline.
Novartis announced an agreement to acquire UK-based biotech Myricx Bio for $1.1 billion in upfront payments, with an additional $400 million in potential milestone payments.1
The deal will bring Myricx’s NMTi payload platform into Novartis’ pipeline, advancing the company’s innovation in the antibody-drug conjugate (ADC) space.
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In a press release, Myricx Bio CEO Mohit Rawat said, “There is a widely recognized and critical unmet need for new ADC payloads that can improve the standard of care over current payloads, overcome payload resistance, improve tolerability and offer a wider therapeutic index. We are delighted that Novartis recognizes the transformative promise of our NMTi-ADC platform to deliver this next-generation of potential first-in-class, highly differentiated ADC therapeutics.”
Rawat continued, “This acquisition is a tremendous endorsement of the leadership of our NMTi-ADC platform, and the insights, innovation and achievements of our founders and team towards our mission of providing more effective and better tolerated therapeutic options for cancer patients. Together with Novartis, we look forward to building upon our work to transform the landscape of cancer treatment.”
In the same press release, Novartis’ president of biomedical research Fiona Marshall added, “ADCs have become an important part of cancer treatment, but there remains a clear need for new payload mechanisms to overcome resistance and expand their impact for patients. Myricx Bio has developed a promising NMTi payload platform with a differentiated mechanism that could broaden the use of ADCs across multiple tumor settings. This proposed acquisition reflects our strategy to scale innovative platforms, as we have with radioligand therapies, to deliver more durable, transformative treatments for patients.”
Myricx’s leadership shakeups
Myricx Bio appointed Rawat as its CEO last September.2 At the time, he said of the new role, “Myricx is a highly ambitious company with the potential to become a leader in ADC therapeutics, with a first-in-class and highly differentiated ADC payload platform that leverages NMT inhibition. The NMTi platform has the potential to deliver the next generation of ADC therapeutics to improve tolerability, overcome payload resistance and offer a wider therapeutic index.”
He continued, “We are backed by world-class and highly experienced investors and have attracted a talented team in our mission of providing more effective and better tolerated therapeutic options for cancer patients. I look forward to working with the team and the board as we prepare our lead program for clinical development, on the back of impressive pre-clinical data.”
This was just the latest addition and change to the company’s leadership team. Earlier that year, in April, it announced the appointments Steen Lisby, MD, D Msc, as CMO and Jasper Valbjørn, M Sc, as SVP CMC.3
At the time, Lisby explained, “I am excited to become a part of the skilled Myricx team, developing first-in-class, novel ADCs, using our unique payload based on NMTi. The technology holds the potential to be differentiated in the clinic and the possibility to improve the life of patients with cancer.”
Valbjørn added, “I believe the NMTi payload can provide a highly needed new modality for ADCs. I am looking forward to working with Robin, Steen and the team in guiding the development of Myricx’s NMTi based ADCs, and to realising their potential as next generation ADC cancer therapies.”
Sources
- Myricx Bio to be Acquired by Novartis to Advance Next-Generation ADC Payloads for Oncology with Novel NMTi Platform. Myricx Bio. Myricx Bio. July 6, 2026.
https://myricxbio.com/myricx-bio-to-be-acquired-by-novartis-to-advance-next-generation-adc-payloads-for-oncology-with-novel-nmti-platform/ - ADC Innovator Myricx Bio Appoints Boston-based Mohit Rawat as CEO and Expands Team in US and UK. Myricx Bio. September 22, 2025. Accessed July 6, 2026.
https://myricxbio.com/adc-innovator-myricx-bio-appoints-boston-based-mohit-rawat-as-ceo-and-expands-team-in-us-and-uk/ - Myricx Bio Announces Expansion of its Leadership Team to Advance NMTi-ADCs into Clinical Development. Myricx Bio. April 8, 2025. Accessed July 6, 2026.
https://myricxbio.com/myricx-bio-announces-expansion-of-its-leadership-team-to-advance-nmti-adcs-into-clinical-development/
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