Sep 6, 2026 – 2.05pmWhen Swiss pharmaceutical giant Novartis paid more than $2 billion for cancer therapy company Myricx last month, it was a wake-up call for Australian venture capital and superannuation funds which have had mixed luck with the notoriously risky biotech sector.While Myricx is London-based, the company was seeded with Australian capital. Early-stage investors Brandon Capital and superannuation funds including Hostplus, HESTA and Aware Super received more than $300 million from the deal, a substantial windfall.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Michael SmithHealth editorMichael Smith is the health editor for The Australian Financial Review. He is based in Sydney.Fetching latest articles