- Novartis has agreed to acquire Myricx Bio for $1.1 billion upfront, with up to $400 million in milestone payments, reinforcing strong pharmaceutical demand for next-generation antibody-drug conjugate (“ADC”) technologies.
- The latest transaction adds to a growing list of multibillion-dollar ADC and T-cell engager (“TCE”) deals, highlighting continued strategic investment in differentiated antibody platforms.
VERAXA Biotech (NASDAQ: VRXA) operates in one of biotechnology’s most active partnering environments, with pharmaceutical companies continuing to commit billions of dollars to differentiated antibody therapeutics. The latest example came this week as Novartis agreed to acquire Myricx Bio for $1.1 billion upfront, plus up to $400 million in milestone payments, to gain access to the company’s novel N-myristoyltransferase inhibitor (“NMTi”) payload platform and two lead ADC programs. The acquisition reflects continued industry demand for innovative antibody technologies capable of addressing limitations of existing cancer therapies.
The Novartis transaction follows a series of major antibody therapeutics deals, including Jazz Pharmaceuticals’ collaboration with AbCellera, Gilead Sciences’ acquisition of Tubulis and multiple multibillion-dollar ADC licensing agreements. VERAXA is advancing proprietary antibody therapeutics spanning both ADCs and TCEs through its patented BiTAC platform, positioning the company within two therapeutic categories that continue to attract significant pharmaceutical investment, strategic collaborations and acquisition activity.
About VERAXA Biotech AG
At VERAXA, we are building a premier engine for the discovery and development of next-generation antibody-based therapeutics, including bispecific T cell engagers, bispecific ADCs and other innovative formats. Powered by a suite of transformative technologies and guided by rigorous quality-by-design principles, we are rapidly advancing our pipeline of ADCs and proprietary BiTAC formats into clinical development and beyond. VERAXA was founded on scientific breakthroughs made at the European Molecular Biology Laboratory (EMBL), a world-renowned institution known for pioneering life science research and cutting-edge technology.
BiTAC(R) is a registered trademark of VERAXA Biotech GmbH.
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