Novartis has entered into an agreement to acquire Myricx Bio, a UK-headquartered biotechnology company, for up to $1.5 billion, comprising $1.1 billion in cash upfront and potential milestone payments. The transaction strengthens Novartis's oncology pipeline by integrating Myricx Bio's novel antibody-drug conjugate (ADC) payload platform, which utilizes a first-in-class N-myristoyltransferase inhibitor (NMTi) mechanism. The deal is expected to close in H2 2026, subject to customary closing conditions and regulatory approvals, and addresses critical unmet needs for new ADC payloads that can overcome resistance and improve tolerability.

The acquisition centers on Myricx Bio’s NMTi payload platform, designed to disrupt critical processes cancer cells rely on for growth and survival. Preclinical data indicate this novel payload offers broad activity across solid tumors, including models resistant to TOPO-1 inhibitors. By integrating this platform, Novartis aims to advance next-generation targeted drug conjugates with differentiated mechanisms that could broaden the use of ADCs across multiple tumor settings.

Myricx Bio is developing two lead assets directed towards the targets B7-H3 and HER2. These assets, combined with the broader payload platform, are designed to deliver a differentiated cancer-killing payload directly to tumor cells. Fiona Marshall, President of Biomedical Research at Novartis, stated that the acquisition reflects the company's strategy to scale innovative platforms to deliver more durable, transformative treatments for patients.

Mohit Rawat, CEO of Myricx Bio, highlighted the transformative promise of the NMTi-ADC platform to deliver next-generation, highly differentiated therapeutics. The company was spun out from Imperial College London and the Francis Crick Institute by Professor Ed Tate Ph.D., Roberto Solari Ph.D., and Andrew Bell Ph.D., supported by Cancer Research UK. Myricx Bio raised £90m ($114m) in a Series A in mid-2024 led by Novo Holdings and Abingworth to scale its operations.

Transaction Overview

The financial structure of the agreement comprises a significant upfront commitment and future contingent payments based on developmental milestones.

Strategic Rationale

ADCs have become a crucial component of cancer treatment, yet limitations exist with commonly used payload classes such as TOPO-1 and tubulin inhibitors. The NMT enzyme is essential for protein function within cells, and inhibiting it offers a mechanism to potentially overcome resistance seen with existing therapies. Novartis aims to leverage this platform to establish NMTi, if clinically validated, as a new class of ADC payloads applicable across additional targets and platforms.

Novartis announced on June 30, 2026, that the European Commission (EC) has approved Itvisma (onasemnogene abeparvovec) for the treatment of children two years and older, teens, and adults living with 5q spinal muscular atrophy (SMA) with a bi-allelic mutation in the survival motor neuron 1 (SMN1) gene. The approval marks Itvisma as the first and only gene replacement therapy currently approved for this broad SMA population in the European Union. This development expands access to a one-time treatment option designed to replace the faulty SMN1 gene, addressing the genetic root cause of the disease.

Itvisma is uniquely designed to address the genetic root cause of SMA with a one-time fixed dose that does not need to be adjusted for age or body weight. By replacing the SMN1 gene, Itvisma aims to improve motor function, offering a distinct option from ongoing dosing approaches associated with other available therapies. The approval enables Novartis to offer gene replacement therapy options across different stages of SMA in Europe, from newborns to adults, alongside its existing therapy Zolgensma.

The regulatory approval is based on data from the registrational STEER study, as well as supportive Phase IIIb STRENGTH and Phase I/II STRONG studies. In the STEER study, Itvisma demonstrated a statistically significant 2.39-point improvement in the Hammersmith Functional Motor Scale (HFMSE), with effects sustained over 52 weeks of follow-up. The STEER and STRENGTH studies also indicated clinically meaningful benefits for both treatment-naïve and pre-treated patients.

"This approval marks a major milestone for people living with SMA," said Patrick Horber, MD, President, International, Novartis. "With Itvisma, we are going further to expand access to a one-time gene replacement therapy for older children, teens and adults – potentially addressing long-standing unmet needs for patients."

Spinal muscular atrophy is a rare, genetic neuromuscular disease caused by a mutated or missing SMN1 gene, leading to progressive muscle weakness. The most common side effects associated with Itvisma include upper respiratory tract infection, pyrexia, vomiting, headache, and increased hepatic enzymes. Novartis holds exclusive, worldwide licenses for the intrathecal delivery of AAV9 gene replacement therapy for the treatment of all types of SMA.