ARTICLE | Finance
Sale-zome
GSK takeout of Cellzome provides VCs with a minimal but long-sought exit
May 21, 2012 7:00 AM UTC
VCs will barely make a return on their investment in German proteomics play Cellzome AG, which is being acquired by long-time partner GlaxoSmithKline plc (LSE:GSK; NYSE:GSK).
GSK last week said it will acquire the 80% of Cellzome it does not already own for £61 million ($98 million) in cash. Founded in 2000, Cellzome raised at least $71 million in venture capital. That gives investors roughly a 1.4x return, although some upside might be found in undisclosed programs that the pharma is not going to develop, which will be spun out...