Novo Holdings portfolio company Myricx Bio agrees to be acquired by Novartis

• Novartis agrees to acquire Myricx Bio, a Novo Holdings portfolio company developing a novel class of antibody-drug conjugate (ADC) payloads for cancer

• Myricx Bio's NMTi payload platform has the potential to broaden the application of ADCs across multiple tumour settings through a differentiated mechanism of action

• Transaction valued at up to $1.5 billion including $1.1 billion cash upfront plus potential milestone payments.

• Novo Holdings co-led Myricx Bio's $114 million (£90 million) Series A financing in 2024 alongside Abingworth

COPENHAGEN, Denmark, 6 July 2026 – Novo Holdings today announced that portfolio company Myricx Bio, a UK biotechnology company focused on the discovery and development of a novel class of payloads for antibody-drug conjugates (ADCs), has entered into a definitive agreement to be acquired by Novartis.

Under the terms of the agreement, the transaction is valued at up to USD 1.5 billion, comprising USD 1.1 billion upfront plus potential milestone payments.

Novo Holdings co-led Myricx Bio's USD 114 million (£90 million) Series A financing in 2024 alongside Abingworth, joined by existing seed investors Brandon Capital and Sofinnova Partners, as well as British Business Bank, Cancer Research Horizons and Eli Lilly Ventures. The Series A supported the development of Myricx Bio's proprietary N-myristoyltransferase inhibitor (NMTi) payload platform.

Founded as a spinout from Imperial College London and the Francis Crick Institute, Myricx Bio has applied extensive research and world leading insights in N-myristoyltransferase (NMT) biology and chemistry to develop a novel class of ADC payloads with an orthogonal and differentiated mode of action to address limitations of commonly used ADC payload classes such as TOPO-1 and tubulin inhibitors.

NMT is an enzyme that plays a key role in cancer cell survival. Myricx Bio's differentiated NMTi payload platform is designed to address limitations associated with existing ADC payload classes and has the potential to widely expand the application of ADCs across multiple tumour settings.

Michael Bauer, Partner, Venture Investments, Novo Holdings, said:
"Our investment in Myricx Bio was founded on the strength of its science, the quality of its team and the differentiated potential of its NMT inhibitor payload platform. We believe the Company’s innovations in antibody-drug conjugates, including novel payload technologies, has the potential to broaden treatment options for patients with cancer. Myricx Bio has been helmed by leaders in advancing this dynamic area of life sciences, and we are proud of our role in helping shape and grow this world-class team. This transaction reflects the significant progress Myricx Bio has made in advancing its platform and highlights the value of supporting innovative companies from an early stage."

Mohit Rawat, Chief Executive Officer of Myricx Bio, said:
"There is a widely recognised and critical unmet need for new ADC payloads that can improve the standard of care over current payloads, overcome payload resistance, improve tolerability and offer a wider therapeutic index. We are delighted that Novartis recognises the transformative promise of our NMTi-ADC platform to deliver this next-generation of potential first-in-class, highly differentiated ADC therapeutics.

“This acquisition is a tremendous endorsement of the leadership of our NMTi-ADC platform, and the insights, innovation and achievements of our founders and team towards our mission of providing more effective and better tolerated therapeutic options for cancer patients. Together with Novartis, we look forward to building upon our work to transform the landscape of cancer treatment.”

Myricx Bio is part of Novo Holdings' Venture Investments portfolio, which includes companies developing next-generation oncology therapies, including antibody-drug conjugates. Novo Holdings continues to invest in differentiated life science companies developing innovative technologies with the potential to address significant unmet medical needs.

The transaction is expected to close during the second half of 2026, subject to customary closing conditions, including regulatory approvals.

About Myricx Bio
Myricx Bio (“Myricx Bio”) is a private biotechnology company focused on the discovery and development of therapeutics for the treatment of patients with cancer. It has pioneered the development of a completely novel class of payloads for antibody-drug conjugates (ADCs), based on inhibition of N-myristoyltransferase (NMT).

A spin out from Imperial College London and the Francis Crick Institute, Myricx Bio is headquartered in London with teams based in the UK and USA.  Investors include Abingworth, Brandon Capital Partners, British Business Bank, Cancer Research Horizons, Eli Lilly, Novo Holdings and Sofinnova Partners. 

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About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.  Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk and Novonesis and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Planetary Health Investments and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.  As of year-end 2025, Novo Holdings had total assets of EUR 93 billion.