Novartis punting $1.5 billion on Myricx Bio acquisition
France-based life sciences venture capital firm Sofinnova today announced that its portfolio company Myricx Bio has reached agreement to be acquired by Novartis (NOVN: VX) for up to $1.5 billion, including $1.1 billion cash upfront plus potential milestone payments.
Myricx Bio is a UK-headquartered transatlantic biotech company focused on the discovery and development of a novel class of payloads for antibody-drug conjugates (ADCs). The company's platform is built around next-generation N-myristoyltransferase inhibitor (NMTi) payloads, a differentiated mechanism of action designed to address the narrow therapeutic windows and tolerability challenges that have limited earlier generations of ADCs, such as TOPO-1 and tubulin inhibitor payload classes.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Biotechnology
| Headless Content Management with Blaze