Myricx Bio is focused on the discovery and development of new treatments for a range of different tumour types through a novel class of payloads for antibody-drug conjugates (ADCs). The acquisition brings together the strengths of Novartis in oncology with Myricx Bio’s two lead ADC assets and next-generation first-in-class N-myristoyltransferase inhibitor (NMTi) payload platform (a new class of drug molecules that block the NMT enzyme and are designed for use in antibody-drug conjugates, which deliver treatments directly to cancer cells), with potential in range of different solid tumours. Myricx Bio was founded in 2019 building on research into N-myristoyltransferase (NMT) carried out by founders Professor Ed Tate, Dr Andrew Bell and Dr Roberto Solari in Imperial’s Department of Chemistry and the Francis Crick Institute, with vital support from Cancer Research UK.

Since then, it has translated their extensive research and world-leading insights in NMT biology and chemistry into ADC payloads with a novel, orthogonal and differentiated mode of action to address limitations of commonly used ADC payload classes such as TOPO-1 and tubulin inhibitors. Myricx Bio has advanced a pre-clinical pipeline of proprietary NMTi-ADCs with lead assets directed towards clinically validated cancer associated antigens, B7-H3 and HER2.

“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,” said Mohit Rawat, CEO of Myricx Bio. “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.”

“The proposed acquisition by Novartis is further validation of a long-running scientific programme on NMT that began over 20 years ago, and recognition of a huge amount of work by my group members with multiple partners. Research that began with NMT in malaria parasites developed over the years into potential cancer treatments, and it is fantastic to now see these programmes backed by a major pharmaceutical partner with extensive oncology experience,” said Professor Ed Tate, GSK Chair in Chemical Biology, Department of Chemistry, and co-founder of Myricx Bio. 

Professor Hugh Brady, President of Imperial College London, said: “This proposed acquisition is a real testament to the strength of Imperial’s research and entrepreneurial ecosystem. Spinouts are a key part of translating Imperial’s world leading research into real-world impact as part of our Science for Humanity strategy, and we are proud to have supported Myricx Bio throughout their journey.” The transaction is expected to close in H2 2026, subject to the satisfaction or waiver of customary closing conditions, including regulatory approvals.

Expanding the potential of NMT inhibitors

Since 2020, researchers led by Professor Jesús Gil, Head of the Senescence Group at the LMS, have collaborated with Myricx Bio to investigate whether NMT inhibitors can selectively eliminate senescent cells – damaged cells that accumulate with age and contribute to a wide range of chronic diseases. This work led to the discovery that NMT inhibition acts as a potent senolytic strategy, with the findings published in Nature Cell Biology in 2023 (McHugh et al.).

“Our collaboration with Myricx Bio has shown that NMT inhibition has exciting potential beyond cancer, opening up new opportunities to target the harmful senescent cells that accumulate with ageing. It’s rewarding to see this long-standing partnership contribute to a platform that is now attracting global recognition,” said Professor Jesús Gil, Head of the Senescence Group at the MRC Laboratory of Medical Sciences

The collaboration between Myricx Bio and LMS demonstrates how fundamental research and close partnerships between academia and industry can uncover new therapeutic opportunities, extending the impact of discoveries in NMT biology beyond oncology.

Read Imperial’s announcement: https://www.imperial.ac.uk/news/articles/admin-services/enterprise/2026/imperial-cancer-therapy-spinout-myricx-bio-agrees-to-be-acquired-by-novartis/