Bain Capital Banks Massive Return on Cerevel Deal

null By Ted Bunker and Ben GlickmanDec. 7, 2023 4:20 pm ET|WSJ ProCerevel develops compounds targeting treatments for neurological disorders. Photo: fred tanneau/Agence France-Presse/Getty ImagesBain Capital scored a more than 10-fold return on its investment in creating and fostering neuroscience drug developer Cerevel Therapeutics Holdings, which AbbVie agreed to acquire for $45 a share, giving the company an equity value of about $8.7 billion.Boston-based Bain Capital initially committed $350 million to the company when it set the business up with drugmaker Pfizer, which contributed compounds that looked promising for the treatment of conditions such as Alzheimer’s, epilepsy, schizophrenia and Parkinson’s disease.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Bain Capital Banks Massive Return on Cerevel Deal

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By Ted Bunker and Ben Glickman

Dec. 7, 2023 4:20 pm ET|WSJ Pro

Cerevel develops compounds targeting treatments for neurological disorders. Photo: fred tanneau/Agence France-Presse/Getty Images

Bain Capital scored a more than 10-fold return on its investment in creating and fostering neuroscience drug developer Cerevel Therapeutics Holdings, which AbbVie agreed to acquire for $45 a share, giving the company an equity value of about $8.7 billion.

Boston-based Bain Capital initially committed $350 million to the company when it set the business up with drugmaker Pfizer, which contributed compounds that looked promising for the treatment of conditions such as Alzheimer’s, epilepsy, schizophrenia and Parkinson’s disease.