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Bill Gates' Cascade Investment wades into biotech IPO

Time: 13:15 EST/18:15 GMT | News Source: E-Mail | Posted By: Byron Hinson

In Bill Gates' latest move in the market for initial public offerings, the billionaire has taken a nine percent stake in Corus Pharma's IPO, through his Cascade Investment LLC firm. The Microsoft chairman purchased 3.55 million shares of the Seattle drug development firm at a price of 97 cents per share on Feb. 21, 2003, according to Corus Pharma's $100 million IPO, filed Friday.

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