Children's Hospital's $50 million bet turns into a $456 million payday

A nonprofit Philadelphia children’s hospital made a modest bet on an upstart drugmaker. Six years later, it reaped an almost half-billion-dollar reward. Children’s Hospital of Philadelphia in 2013 spun off a gene-therapy company working on a new treatment for a rare form of blindness that its scientists had helped develop, agreeing to invest $50 million and becoming the venture’s largest shareholder.