The section Constructing an Instance of a Generic Type in the link provided covers this exact case.
In your case you would need write
Type typeArgument = Type.GetType(typestring);
Type constructed = typeof(MyClass<>).MakeGenericType(typeArgument);
object instance = Activator.CreateInstance(constructed);
However, the use cases of this techniques are far from common. You should try as much as possible to provide type information at compile-time. That is, try not to rely on Reflection to create your objects. Generics methods are especially useful for such cases.