SVB Leerink

SVB Leerink is a specialist investment bank focusing on the healthcare sector, headquartered in Boston, MA. SVB Leerink offers capital markets capabilities, M&A advisory, corporate access and equity research. SVB Leerink was founded in 1995 by Jeffrey A. Leerink.[1]

SVB Leerink LLC
LLC
IndustryFinancial Services
Founded1995 (1995)
FounderJeffrey A. Leerink
Headquarters1 Federal St, 37th floor
Boston, MA, United States
ProductsInvestment banking
ParentSilicon Valley Bank
Websitewww.svbleerink.com

History

1995 – Founded as Leerink Swann LLC with a focus on sell-side research[1][2]

1996 – Established MedaCorp expert network as a joint venture with Dan Dubin[1]

1999 – Inc. Magazine's America's 500 fastest growing private companies[3]

2014 – Leerink Swann is renamed as Leerink Partners LLC[4]

2019 – Leerink Partners LLC, now SVB Leerink, was acquired by SVB Financial Group, parent company of Silicon Valley Bank[5]

The company has offices in Boston, New York, San Francisco and Charlotte.

MEDACorp

MEDACorp, established 1996, is a strategic knowledge resource at SVB Leerink. It operates a global network of key opinion leaders in various fields of expertise. The aim of this network is to connect medical knowledge with the financial industry. Uses are e.g. validation of new products and commercial viability in the assessment of company financials, corporate due diligence in the medial field as part of M&A advisory or capital raising.[1]

Expert network controversy

A 2010 probe into expert network focused on potential for conflict of interest and insider dealings through expert network across the entire industry.[6] The SEC investigated a 2009 merger between Cougar Biotech and Johnson & Johnson in which Leerink advised Cougar.[7] 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 operates strict information barriers.[9] Speculations about MedaTech’s shut down as part of the investigation proved unfounded.[10][11]

Incidents

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]

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References
  1. Groysberg, Boris; Healy, Paul M. (2013-08-07). Wall Street Research: Past, Present, and Future. Stanford University Press. ISBN 0804787123.
  2. "Leerink Overview". Vault. Vault. Retrieved 7 September 2017.
  3. "Business News: The Denver Post". extras.denverpost.com. Retrieved 2017-09-07.
  4. "Leerink Swann Is Now Leerink Partners". Businesswire. 6 January 2014. Retrieved 7 September 2017.
  5. Group, SVB Financial. "SVB Financial Group Completes Acquisition of Healthcare Investment Bank Leerink Partners". www.prnewswire.com. Retrieved 2019-01-31.
  6. "New caution on role of expert networks". Reuters. 10 December 2010. Retrieved 2017-09-07.
  7. "SAC and Leerink Swann Under SEC Investigation • Integrity Research". Integrity Research. 2011-10-20. Retrieved 2017-09-07.
  8. "SAC and Leerink Swann Under SEC Investigation • Integrity Research". Integrity Research. 2011-10-20. Retrieved 2017-09-07.
  9. "Expert networks give investors an edge - The Boston Globe". BostonGlobe.com. Retrieved 2017-09-07.
  10. Strasburg, Jenny (2010-12-10). "Probes Lead Leerink Bank To Reconsider 'Expert' Unit". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-09-07.
  11. "The "Expert Network" Used By SAC Capital, Diamondback, Frontpoint And Citadel Is Closing". Business Insider. Retrieved 2017-09-07.
  12. "SEC.gov | SEC Charges Investment Bank Analyst with Illegally Tipping College Friend About Nonpublic Merger Deals". www.sec.gov. Retrieved 2017-09-07.
  13. "S.F. banker guilty of insider trading". SFGate. Retrieved 2017-09-07.
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