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September 01, 2020 10:18am
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Big Peninsula biotech buyout means happy returns for Kleiner Perkins, other VCs

Legendary venture capital firm Kleiner Perkins Caufield & Byers bought into Redwood City's ARMO BioSciences Inc. in December 2012 when Series A shares sold for $1. It stuck with the company into a January IPO at $17 and now with a $50-per-share buyout by Eli Lilly & Co.
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