Apr
28

Stemcentrx Sale to Return a Record $1.7 Billion for VC Firm Founders Fund

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While the Silicon Valley venture capital firm has little expertise in biotech, its big bet paid off.

Founders Fund has had some successes, but the acquisition of Stemcentrx Inc. tops them all. With the cancer drug maker’s sale to AbbVie Inc., the venture firm will get as much as $1.7 billion, said people familiar with the matter.

In addition to the $5.8 billion price AbbVie is paying, Stemcentrx investors may get an additional $4 billion in cash if certain regulatory and clinical milestones are achieved. Stemcentrx’s $400 million of cash and equivalents brings the total potential value of the deal to $10.2 billion, said the people who asked not to be named discussing details of the agreement…

Stemcentrx Sale to Return a Record $1.7 Billion for VC Firm Founders Fund

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