22:38 - 6.07.2026

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July 6, Fineko/abc.az. Swiss pharmaceutical giant Novartis has reached an agreement to acquire Myricx Bio, a UK-based biotechnology company developing next-generation cancer therapies, in a deal valued at up to $1.5 billion.

Financial Terms and Strategic Objectives:

• Payment Structure: Under the terms of the agreement, Novartis will pay $1.1 billion in upfront cash. Myricx Bio is also eligible for up to $400 million in additional payments tied to future scientific and commercial milestones.

• ADC Technology: Myricx Bio specializes in next-generation Antibody-Drug Conjugates (ADCs), which offer targeted cell destruction to treat tumors more effectively.

• Timeline: The transaction is expected to close in the second half of this year, pending customary regulatory approvals.

Market Insight: Analysts point out that Novartis has been aggressively scaling up its investments in oncology, radioligand, and targeted biologic therapies. Acquiring this pre-clinical stage platform is expected to strengthen Novartis's portfolio and reshape competition in the global oncology market.