Novartis To Acquire Myricx Bio In Deal Valued Up To $1.5 Bln, Expand Oncology Pipeline

Novartis agreed to acquire Myricx Bio, a UK biotech focused on a new class of antibody-drug conjugates (ADCs), for up to $1.5B. The deal expands Novartis’ ADC pipeline and signals continued investment in next-generation oncology therapeutics, which is likely supportive for sentiment around NVS.

Analysis

Novartis agreed to acquire Myricx Bio, a UK biotech focused on a new class of antibody-drug conjugates (ADCs), for up to $1.5B. The deal expands Novartis’ ADC pipeline and signals continued investment in next-generation oncology therapeutics, which is likely supportive for sentiment around NVS.