Novartis Deepens Oncology Push With M&A and New Partnerships

Novartis (NYSE: NVS / SIX: NOVN.SW) is moving deeper into next-generation cancer treatment. The Swiss pharma giant announced Monday it will acquire UK biotech Myricx Bio in a transaction valued at up to $1.5 billion, combining $1.1 billion in upfront cash with as much as $400 million tied to future milestones. Myricx Bio is a privately held company and does not currently trade under a public ticker.

The acquisition targets Myricx’s antibody-drug conjugate (ADC) pipeline, specifically two candidates built around a novel payload technology aimed at solid tumors. Unlike many existing ADCs, these assets are designed to work around resistance mechanisms that have limited earlier-generation therapies, giving Novartis a potential edge in a crowded but high-growth segment of oncology.

 Despite the strategic rationale, Novartis shares slipped roughly 1.4% in premarket trading following the announcement. That said, the stock remains up close to 16% year-to-date, suggesting investors are taking a wait-and-see approach on this specific deal rather than reassessing the company’s broader momentum. The transaction still requires regulatory clearance and is expected to close in the second half of the year. If completed, it would mark another step in Novartis’s pattern of acquiring smaller, innovation-stage biotechs to feed its pipeline — a strategy it has also used to build out its radioligand therapy business.