Swiss 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.
Loading…
Leave a comment