Hundreds of billions of dollars of venture capital have been provided devoid of any transformational effects that were probable. Established in 1976, Genentech was to develop the brand new science of recombinant DNA into feasible healing products with mass market appeal, something that most scientists concurred was at least a decade away.
The founders, Robert Swanson and Herbert Boyer had limited financial resources, so they turned to Tom Perkins, the co-founder of Kleiner-Perkins, for venture funding. Genentech urbanized via an effective union between scientific and enterprise investment mindsets. In 1980 Genentech was valued by an IPO at $300 million. In 2009 it was fully acquired by the Swiss-based healthcare firm, Roche, for $47 billion. Roche had held a majority stake in the business since 1990.
PUBLICATION DATE: October 27, 2012 PRODUCT #: 813102-PDF-ENG
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