Novartis to Buy Myricx Bio for Up to $1.5 Billion

By Aimee Look

Novartis said it agreed to pay up to $1.5 billion for Myricx Bio to bolster its oncology capabilities.

The Swiss pharmaceutical company said it would purchase the privately held U.K.-based biotechnology firm, which is developing a new class of antibody-drug conjugates. Myricx Bio's approach delivers differentiated cancer-killing mechanisms directly to tumor cells, Novartis said.

Novartis will pay $1.1 billion upfront, with up to $400 million in potential additional payments. The deal, expected to close in the second half of 2026, is subject to regulatory approvals.

Write to Aimee Look at aimee.look@wsj.com

Corrections & Amplifications

This article was corrected at 0616 GMT to reflect that Novartis will pay up to $400 million in potential additional payments. The original article incorrectly stated that figure as $400.

(06:05 GMT) Correction to Novartis Article

Novartis will pay up to $400 million in potential additional payments. "Novartis to Buy Myricx Bio for Up to $1.5 Billion," at 0523 GMT, misstated the figure.