12:00 AM
Nov 25, 2013
 |  BioCentury  |  Finance

It pays to be Ethical

How EOS investors cashed in on Clovis' $200M offer for Phase I/IIa cancer play

Ethical Oncology Science S.p.A.'s investors are in line for at least 7x on their money based solely on the $200 million in upfront cash and stock that Clovis Oncology Inc. (NASDAQ:CLVS) is paying for the cancer company.

Sofinnova Partners' Antoine Papiernik said his firm seeded EOS in 2007 based on the firm's relationship with the management team, which had founded and sold another portfolio cancer play, Novuspharma S.p.A., to Cell Therapeutics Inc. (NASDAQ:CTIC; Milan:CTIC).

"They wanted to go find a diamond in the rough, so we gave them a little money and a mandate to do so," said Papiernik.

What EOS...

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