Novartis said it agreed to pay up to $1.5 billion for Myricx Bio to bolster its oncology capabilities. The Swiss pharmaceutical company said it would purchase the privately held U.K.-based biotechnology firm, which is developing a new class of antibody-drug conjugates. Myricx Bio's approach delivers differentiated cancer-killing mechanisms directly to tumor cells, Novartis said. Novartis will pay $1.1 billion upfront, with up to $400 in potential additional payments. The deal, expected to close in the second half of 2026, is subject to regulatory approvals.
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