Silicon Valley Bank parent buys life science investment bank for $280M

The parent company of  Silicon Valley Bank has agreed to acquire Leerink Partners LLC, a Boston-based investment bank that focuses on the life sciences and health care industries. Santa Clara-based SVB Financial Group said it will pay $280 million in cash for Leerink. SVB said it will also "provide a retention pool for employees of $60 million to be paid over five years." Once the deal closes — expected in the first quarter of 2019 — Leerink will become known as SVB Leerink, and will operate…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news