Novartis To Acquire Myricx Bio For Up To $1.5B
* To Pay $1.1B Upfront * Up To $400M In Potential Milestone Payments
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05:15:14 AM UTC
SquawkNews
Novartis (NOVN.SW) agreed to acquire UK-based biotechnology company Myricx Bio for $1.5 billion, according to a Monday release. The Swiss-listed pharmaceutical company will pay $1.1 billion upfront and up to an additional $400 million in potential milestone payments. Subject to regulatory approvals, the deal is expected to close in the second half of 2026. Myricx Bio's development pipeline includes two assets that are directed towards the targets B7-H3 and HER2, with potential across multiple solid tumor settings.
Novartis (NOVN.SW) agreed to acquire UK-based biotechnology company Myricx Bio for $1.5 billion, according to a Monday release.
The Swiss-listed pharmaceutical company will pay $1.1 billion upfront and up to an additional $400 million in potential milestone payments.
Subject to regulatory approvals, the deal is expected to close in the second half of 2026.
Myricx Bio's development pipeline includes two assets that are directed towards the targets B7-H3 and HER2, with potential across multiple solid tumor settings.