BioCentury
ARTICLE | Company News

SVB acquiring Leerink amid record year for IPOs

November 16, 2018 6:00 PM UTC

With IPOs continuing at a torrid pace, SVB Financial Group (NASDAQ:SIVB), the parent company of high-tech commercial lender Silicon Valley Bank, announced on Oct. 13 that it will acquire Leerink Partners for $280 million.

Leerink, a boutique healthcare investment bank, is among the top 10 underwriters for biotech IPOs and follow-ons this year. The firm was lead underwriter on 13 deals in the first three quarters of 2018, which accounted for a total of $1 billion raised (see “Uncharted Territory”)...