Novartis (SWX:NOVN) To Acquire Myricx Bio In $1.5 Billion Oncology Deal
Novartis (SWX:NOVN) has agreed to acquire UK-based Myricx Bio in a transaction valued at up to US$1.5b. The deal includes US$1.1b in upfront and milestone payments tied to the progress of Myricx Bio's oncology programs. Myricx Bio adds a first-in-class N-myristoyltransferase inhibitor ADC platform focused on treating cancers that may not respond well to existing ADC payloads. For investors watching Novartis, this move highlights how important antibody drug conjugates have become within...
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