Novartis Acquires Myricx Bio | Next-Generation ADC Payload Platform

Summary Novartis agreed to acquire Myricx Bio for up to $1.5 billion, including $1.1 billion upfront, to add a novel N-myristoyltransferase inhibitor (NMTi) antibody-drug conjugate payload platform and two lead ADC assets. The transaction is a major platform signal because it shows large pharma paying…