Brandon Capital Announces Agreement for Novartis to Acquire Portfolio Company Myricx Bio to Advance New Class of Cancer Therapeutics

Novartis has agreed to acquire Brandon Capital's portfolio company Myricx Bio for up to US$1.5 billion, including an upfront payment of US$1.1 billion plus milestone payments. Myricx Bio, a UK-based pre-clinical oncology company, has developed a novel class of N-myristoyltransferase inhibitor (NMTi) payloads for antibody-drug conjugates (ADCs) targeting solid tumors. The acquisition represents a significant exit for Brandon Capital and validates its early-stage investment in the breakthrough cancer therapeutic platform.