Jul 6, 2026 – 3.38pmSwiss pharmaceutical giant Novartis has agreed to pay more than $2 billion for early-stage cancer therapy biotech Myricx in a major windfall for the company’s founding investor, Australian venture capital firm Brandon Capital, and its superannuation fund backers.Novartis said on Monday it would pay $US1.1 billion ($1.6 billion) cash upfront, plus up to $US400 million in milestone payments for London-based Myricx, one of the largest amounts paid for an early-stage pre-clinical biotechnology company.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles