Formerly |
|
---|---|
Company type | Private |
Industry | Financial services |
Founded | 1995 |
Founder | Jeffrey A. Leerink |
Headquarters |
Exchange Place Boston, Massachusetts, U.S. |
Products | Investment banking |
Parent | SVB Financial Group (2019–2023) |
Website |
leerink |
Leerink Partners LLC is an independent investment bank providing healthcare companies and investors with financial services including M&A advisory, equity and debt capital markets, proprietary research, and sales and trading capabilities. [1] The firm was founded in 1995 by Jeffrey A. Leerink, and is headquartered in Boston, with offices in New York City, San Francisco, Charlotte, [2] and Nashville. [3]
Leerink Partners was founded in 1995 as Leerink Swann LLC. [2] [4] The following year, the bank established MEDACorp expert network as a joint venture with Dr. Dan Dubin. [2] It acted as a strategic knowledge resource at Leerink, using validation of new products and commercial viability in the assessment of company financials, and corporate due diligence in the medial field as part of a merger and acquisition advisory or capital raising. [2]
In 1999, Inc. named the bank as one of America's 500 fastest growing private companies. [5]
In 2009, the firm expanded its investment banking footprint when 25 senior healthcare bankers joined the firm from Merrill Lynch. [1] [6]
A 2010 probe into expert network focused on potential for conflict of interest and insider dealings through expert network across the entire industry. [7] The U.S. Securities and Exchange Commission (SEC) investigated a 2009 merger between Cougar Biotech and Johnson & Johnson in which Leerink advised Cougar. [8] MedaTech client SAC Capital had been an investor in Cougar Biotech. The focus of the investigation was whether any information about the transaction flowed from Leerink via MedaTech to SAC. [8] According to Leerink, the firm operated strict information barriers. [9] Speculations about MedaTech's shut down as part of the investigation proved unfounded. [10] [11]
In 2012, the SEC charged a former Leerink analyst for insider trading. The analyst had obtained confidential information about a merger transaction Leerink was working on and passed this information on to a friend to place trades on his behalf. The analyst gained around $600,000 from this investment and was later sentenced for insider trading. [12] [13]
In 2014, Leerink Swann was rebranded as Leerink Partners LLC. [14] Leerink Partners was acquired by SVB Financial Group in 2019 and rebranded SVB Leerink. [15]
In 2015, the firm established a specialty pharmaceuticals and services franchise. [1] [6]
In 2016, the firm established a convertible capital markets business. [1] [6]
In 2019, Leerink Partners established alternative equities and ATM businesses. [1] [6]
In 2021, SVB acquired media and telecom research company MoffettNathanson LCC. [16] Further, SVB Leerink was rebranded as SVB Securities LLC. [17] In the same year, the firm hired Barry Blake as Global Co-Head of Investment Banking with a focus on Healthcare Services & Technology. [1] [6] In 2021, the firm also expanded its leadership within the financial sponsor and leveraged finance sector and added five senior bankers to its healthcare services franchise. [1] [6]
Following the collapse of Silicon Valley Bank in March 2023, the management of SVB Securities planned to buy back their firm from the parent group. [18]
On March 17, 2023, SVB Securities' parent company filed for Chapter 11 bankruptcy, but SVB Securities itself was not included in the Chapter 11 filing. [19]
On June 18, 2023, SVB Financial Group agreed to sell SVB Securities in a management buyout led by the latter's CEO, Leerink. The deal, backed by funds managed by the Baupost Group, includes $55 million in cash besides repayment of $26 million in debt and assumption of other liabilities. MoffettNathanson LLC was not included in the sale. [20] In July 2023, the buyout was approved in bankruptcy court, and SVB Securities was renamed to Leerink Partners. [21]
The firm advises on M&A advisory, capital markets, leveraged and private capital markets. [1] [6] For investors, the firm provides experience in the healthcare sector through equity research, institutional equities, and corporate access. [1] The firm serves many clients focusing on biopharma, digital health & health tech, healthcare services, medical technology, tools & diagnostics and more. [1] [6]
Formerly |
|
---|---|
Company type | Private |
Industry | Financial services |
Founded | 1995 |
Founder | Jeffrey A. Leerink |
Headquarters |
Exchange Place Boston, Massachusetts, U.S. |
Products | Investment banking |
Parent | SVB Financial Group (2019–2023) |
Website |
leerink |
Leerink Partners LLC is an independent investment bank providing healthcare companies and investors with financial services including M&A advisory, equity and debt capital markets, proprietary research, and sales and trading capabilities. [1] The firm was founded in 1995 by Jeffrey A. Leerink, and is headquartered in Boston, with offices in New York City, San Francisco, Charlotte, [2] and Nashville. [3]
Leerink Partners was founded in 1995 as Leerink Swann LLC. [2] [4] The following year, the bank established MEDACorp expert network as a joint venture with Dr. Dan Dubin. [2] It acted as a strategic knowledge resource at Leerink, using validation of new products and commercial viability in the assessment of company financials, and corporate due diligence in the medial field as part of a merger and acquisition advisory or capital raising. [2]
In 1999, Inc. named the bank as one of America's 500 fastest growing private companies. [5]
In 2009, the firm expanded its investment banking footprint when 25 senior healthcare bankers joined the firm from Merrill Lynch. [1] [6]
A 2010 probe into expert network focused on potential for conflict of interest and insider dealings through expert network across the entire industry. [7] The U.S. Securities and Exchange Commission (SEC) investigated a 2009 merger between Cougar Biotech and Johnson & Johnson in which Leerink advised Cougar. [8] MedaTech client SAC Capital had been an investor in Cougar Biotech. The focus of the investigation was whether any information about the transaction flowed from Leerink via MedaTech to SAC. [8] According to Leerink, the firm operated strict information barriers. [9] Speculations about MedaTech's shut down as part of the investigation proved unfounded. [10] [11]
In 2012, the SEC charged a former Leerink analyst for insider trading. The analyst had obtained confidential information about a merger transaction Leerink was working on and passed this information on to a friend to place trades on his behalf. The analyst gained around $600,000 from this investment and was later sentenced for insider trading. [12] [13]
In 2014, Leerink Swann was rebranded as Leerink Partners LLC. [14] Leerink Partners was acquired by SVB Financial Group in 2019 and rebranded SVB Leerink. [15]
In 2015, the firm established a specialty pharmaceuticals and services franchise. [1] [6]
In 2016, the firm established a convertible capital markets business. [1] [6]
In 2019, Leerink Partners established alternative equities and ATM businesses. [1] [6]
In 2021, SVB acquired media and telecom research company MoffettNathanson LCC. [16] Further, SVB Leerink was rebranded as SVB Securities LLC. [17] In the same year, the firm hired Barry Blake as Global Co-Head of Investment Banking with a focus on Healthcare Services & Technology. [1] [6] In 2021, the firm also expanded its leadership within the financial sponsor and leveraged finance sector and added five senior bankers to its healthcare services franchise. [1] [6]
Following the collapse of Silicon Valley Bank in March 2023, the management of SVB Securities planned to buy back their firm from the parent group. [18]
On March 17, 2023, SVB Securities' parent company filed for Chapter 11 bankruptcy, but SVB Securities itself was not included in the Chapter 11 filing. [19]
On June 18, 2023, SVB Financial Group agreed to sell SVB Securities in a management buyout led by the latter's CEO, Leerink. The deal, backed by funds managed by the Baupost Group, includes $55 million in cash besides repayment of $26 million in debt and assumption of other liabilities. MoffettNathanson LLC was not included in the sale. [20] In July 2023, the buyout was approved in bankruptcy court, and SVB Securities was renamed to Leerink Partners. [21]
The firm advises on M&A advisory, capital markets, leveraged and private capital markets. [1] [6] For investors, the firm provides experience in the healthcare sector through equity research, institutional equities, and corporate access. [1] The firm serves many clients focusing on biopharma, digital health & health tech, healthcare services, medical technology, tools & diagnostics and more. [1] [6]