Silicon Valley Bank's parent snares life sciences investment bank for $280M

The parent company of  Silicon Valley Bank will buy Leerink Partners LLC, a Boston-based investment bank that focuses on the life sciences and health care industries, the companies said Tuesday. Under the deal, Silicon Valley Bank's parent company, Santa Clara-based SVB Financial Group (NASDAQ: SIVB), will pay $280 mil lion in cash for Leerink's parent company, Leerink Holdings LLC. SVB said it also will provide a $60 million "retention pool" for employees that will be be paid over five years. Once…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news