Biotech buyout means happy returns for Kleiner Perkins

A small biotech's $1.6 billion buyout by Eli Lilly and Co. would create big Bay Area venture capital winners — including a 50x return for Kleiner Perkins Caufield& Byers — and could turn the cancer immunotherapy investing space white hot. Lilly (NYSE: LLY) will buy ARMO BioSciences Inc. (NASDAQ: ARMO) for $50 a share in an all-cash deal that is nearly triple the price of the Redwood City company's shares when it went public in January. That means big winners amo ng early investors who saw the…
Source: bizjournals.com Health Care News Headlines - Category: Health Management Authors: Source Type: news