Sofinnova Partners has announced that its portfolio company Myricx Bio has agreed to be acquired by Novartis in a transaction worth up to $1.5 billion, including $1.1 billion in upfront cash.
The deal marks Sofinnova’s seventh exit in three years and represents a major milestone for the UK‑headquartered biotech.
Founded in 2019 and backed from inception by Sofinnova Partners and Brandon Capital, Myricx Bio develops a novel class of N‑myristoyltransferase inhibitor payloads for antibody‑drug conjugates.
The company’s platform is designed to overcome the narrow therapeutic windows and tolerability issues associated with earlier ADC payloads, including TOPO‑1 and tubulin inhibitors.
Myricx Bio’s two lead ADC assets target B7‑H3 and HER2, aiming to deliver more effective and better‑tolerated therapies for patients with solid tumours. The company was spun out from Imperial College London and the Francis Crick Institute with support from Cancer Research UK, and has since expanded its operations following a £90m Series A round in 2024.
Antoine Papiernik, Chairman and Managing Partner at Sofinnova Partners, said “Myricx Bio is a powerful example of what European life sciences can produce when you combine world‑class academic science with the right venture support from the very beginning.
“This acquisition by Novartis is not only a validation of Myricx Bio’s platform but a demonstration of what is possible when Europe backs its own innovation with conviction. That is precisely what Sofinnova exists to do.”
Maina Bhaman, Partner at Sofinnova Partners, highlighted “I first met Roberto and Ed at Imperial, long before any of this existed. The team at Myricx Bio has executed with exceptional discipline and ambition ever since, evolving the company from a seed hypothesis to a Novartis acquisition, and supporting them along that journey has been one of the great privileges of my career.
“This is the outcome our model is built to deliver: identifying exceptional science and people early and supporting them at every stage.”
Mohit Rawat, CEO of Myricx Bio, said “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 transaction is expected to close in H2 2026, subject to customary regulatory approvals.
