Biotechnology Acquisitions in 2023
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December 27, 2023
- Buyer
- Cyclo Therapeutics, Inc.
- Target
- Applied Molecular Transport Inc.
- Seller
- Applied Molecular Transport stockholders
- Industry
- Biotechnology
- Location
- Florida, United States
- Type
- Buyout
Cyclo Therapeutics completed an all-stock merger with Applied Molecular Transport (AMT), with AMT shareholders receiving 0.1331 shares of Cyclo Therapeutics for each AMT share (approximately 5,822,720 Cyclo shares, or ~18% of the combined company). The combined, Nasdaq-listed company will operate as Cyclo Therapeutics, focus on advancing the Phase 3 TransportNPC study of Trappsol Cyclo for Niemann-Pick Disease Type C1, be led by Cyclo's existing management and headquartered in Gainesville, Florida.
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December 27, 2023
- Buyer
- Eli Lilly and Company
- Target
- POINT Biopharma Global Inc.
- Industry
- Biotechnology
- Location
- Indiana, United States
- Type
- Buyout
Eli Lilly and Company completed the acquisition of POINT Biopharma Global Inc. after a tender offer at $12.50 per share in cash, followed by a second-step merger and delisting of POINT's common stock. The transaction brings POINT's radioligand therapy pipeline and radiopharmaceutical capabilities into Lilly's oncology research and development efforts.
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December 26, 2023
- Buyer
- Bristol Myers Squibb
- Target
- RayzeBio, Inc.
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
Bristol Myers Squibb will acquire RayzeBio for $62.50 per share in an all-cash transaction, valuing the equity at approximately $4.1 billion. The deal is expected to close in the first half of 2024, subject to customary conditions, bringing RayzeBio’s actinium-based radiopharmaceutical platform and clinical pipeline into BMS’s oncology franchise.
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December 22, 2023
- Buyer
- Concentra Biosciences, LLC, Tang Capital Partners, LP
- Target
- Theseus Pharmaceuticals, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Concentra Biosciences, a vehicle controlled by Tang Capital Partners, has entered into a definitive merger agreement to acquire clinical-stage biotech Theseus Pharmaceuticals for $3.90–$4.05 per share in cash plus a contingent value right tied to future program licensing/disposition proceeds. The transaction will be effected by a tender offer and is expected to close in February 2024, subject to customary conditions and the availability of required cash at closing.
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December 14, 2023
- Buyer
- Certara, Inc.
- Target
- Applied BioMath
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Certara, Inc. has acquired Applied BioMath to expand its biosimulation capabilities and establish the life sciences industry's largest quantitative systems pharmacology (QSP) center of excellence. The acquisition combines Certara's biosimulation and AI portfolios with Applied BioMath's proprietary QSP platform and modeling expertise to industrialize QSP and accelerate drug development.
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December 14, 2023
- Buyer
- Pfizer Inc.
- Target
- Seagen Inc.
- Industry
- Biotechnology
- Location
- Washington, United States
- Type
- Buyout
Pfizer completed its acquisition of Seagen, acquiring all outstanding common stock of Seagen for $229 per share in cash, valuing the enterprise at approximately $43 billion. The combination is intended to strengthen Pfizer’s oncology portfolio by adding Seagen’s proprietary antibody-drug conjugate (ADC) technology and in-line medicines.
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December 13, 2023
- Buyer
- Windjammer Capital Investors
- Target
- Bio X Cell
- Industry
- Biotechnology
- Location
- New Hampshire, United States
- Type
- Buyout
Windjammer Capital Investors completed a control acquisition of Bio X Cell, a producer of monoclonal antibodies for pre-clinical research, in a transaction that closed November 6, 2023. Windjammer said it will partner with management to accelerate organic growth and pursue a thesis-driven acquisition strategy to expand Bio X Cell's addressable market.
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December 12, 2023
- Buyer
- AstraZeneca
- Target
- Icosavax
- Industry
- Biotechnology
- Location
- Washington, United States
- Type
- Buyout
AstraZeneca has entered into a definitive agreement to acquire Icosavax, a Seattle-based clinical-stage biopharmaceutical company, in a cash tender offer valuing the deal at approximately $0.8bn upfront and up to $1.1bn including contingent payments. The acquisition brings Icosavax's virus‑like particle (VLP) platform and Phase III‑ready combination RSV/hMPV vaccine candidate IVX‑A12 into AstraZeneca's Vaccines & Immune Therapies late‑stage pipeline to strengthen respiratory vaccine capabilities for older adults and vulnerable populations.
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December 7, 2023
- Buyer
- Invaio Sciences
- Target
- Peptyde Bio
- Seller
- Danforth Technology Company, Donald Danforth Plant Science Center
- Industry
- Biotechnology
- Location
- Missouri, United States
- Type
- Buyout
Invaio Sciences has acquired Peptyde Bio, a Danforth Technology Company spinout that discovers and designs antimicrobial peptides for crop protection. The deal brings Peptyde Bio’s peptide discovery platform and IP into Invaio’s AI-enabled discovery engine and biological delivery systems to accelerate nature-positive crop protection solutions.
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December 4, 2023
- Buyer
- Branded Legacy, Inc. (BLEG)
- Target
- MariJ Pharmaceuticals, Inc.
- Seller
- Rick Pertile (CEO of MariJ Pharmaceuticals, Inc.)
- Industry
- Biotechnology
- Location
- Florida, United States
- Type
- Buyout
Branded Legacy, Inc. (OTC: BLEG) completed the acquisition of MariJ Pharmaceuticals, Inc., a Clearwater, Florida-based certified-organic CBD extraction and production company, on December 4, 2023. The deal transfers MariJ's mobile CO2 extraction units, licensed vehicles, production lab, IP (including a patent), organic certifications, customer and operational databases, and licenses to Branded Legacy in exchange for preferred series stock and cash.
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December 4, 2023
- Buyer
- Roche
- Target
- Carmot Therapeutics
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
Carmot Therapeutics entered into a definitive merger agreement to be acquired by Roche for $2.7 billion upfront, with up to $400 million in potential milestone payments. Carmot’s shareholders will receive $2.7 billion in cash at closing, and Carmot and its employees will join the Roche Group’s Pharmaceuticals Division.
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November 28, 2023
- Buyer
- Hovione
- Target
- ExtremoChem
- Industry
- Biotechnology
- Location
- Portugal
- Type
- Buyout
Hovione has acquired ExtremoChem, a developer and commercializer of synthetic sugars for stabilizing biopharmaceuticals, to add functional materials to its CDMO platform. Financial terms were not disclosed; Hovione said the acquisition enhances its formulation, particle engineering and stabilization capabilities and will support wider market adoption of ExtremoChem’s sugars.
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November 21, 2023
- Buyer
- Merck (MSD)
- Target
- Caraway Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Merck (MSD) will acquire Caraway Therapeutics, a Cambridge, Massachusetts–based preclinical biopharmaceutical company, for up to $610 million in potential consideration, including an undisclosed upfront payment and contingent milestone payments. The acquisition is intended to strengthen Merck’s research pipeline and capabilities in developing small-molecule treatments for genetically defined neurodegenerative and rare diseases.
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November 15, 2023
- Buyer
- Astellas US Holding, Inc., Astellas Pharma Inc.
- Target
- Propella Therapeutics, Inc.
- Seller
- TPC- API LLC, Peterson Companies, William Peterson (Peterson Companies Investment Board), Outcome Capital (advisor/strategic advisor; not clearly seller)
- Industry
- Biotechnology
- Location
- North Carolina, United States
- Type
- Buyout
Astellas Pharma, through a US subsidiary, has entered into a merger agreement to acquire Propella Therapeutics for approximately $175 million in cash. Propella is developing PRL-02 (abiraterone decanoate), a next-generation long-acting prodrug targeting prostate cancer, which is currently in Phase 1 with plans to enter Phase 2a in 2024.
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November 13, 2023
- Buyer
- Ajinomoto Co., Inc.
- Target
- Forge Biologics
- Seller
- Forge unitholders
- Industry
- Biotechnology
- Location
- Ohio, United States
- Type
- Buyout
Ajinomoto Co., Inc. will acquire Forge Biologics in an all-cash transaction valued at $620 million, expanding Ajinomoto's gene therapy and plasmid/AAV manufacturing capabilities. Forge, a Columbus, Ohio–based viral vector and plasmid CDMO with a 200,000 sq ft cGMP facility and ~300+ employees, will become a consolidated subsidiary to accelerate global gene and cell therapy manufacturing capacity.
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November 10, 2023
- Buyer
- Medix Biochemica
- Target
- ViroStat LLC
- Industry
- Biotechnology
- Location
- Maine, United States
- Type
- Buyout
Medix Biochemica has acquired 100% of ViroStat LLC, a US-based manufacturer of infectious disease antibodies and antigens, expanding Medix's IVD raw materials portfolio and scientific capabilities. ViroStat will continue operating in Westbrook, Maine, and its employees and leadership (including President Dr. Douglas McAllister and General Manager Duncan McAllister) will join Medix Biochemica.
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November 2, 2023
- Buyer
- Ampersand Capital Partners
- Target
- Genezen
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Growth capital
Genezen closed an $18.5 million follow-on growth equity financing led by Ampersand Capital Partners to accelerate expansion of its viral vector development and GMP manufacturing capabilities. The capital will support build-out and technology investments at Genezen's facilities (including the Fishers, Indiana GMP viral vector site) to scale retroviral, lentiviral and AAV vector production and support additional customer programs.
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- Buyer
- NorthEdge
- Target
- Antibody Analytics (RoukenBio)
- Industry
- Biotechnology
- Location
- Scotland, United Kingdom
- Type
- Growth capital
NorthEdge has completed a multi‑million‑pound growth investment in Antibody Analytics (now trading as RoukenBio), a Scotland‑based pre‑clinical immunology CRO. The capital will fund site expansion, upgraded facilities and job creation as NorthEdge (represented on the board by Liam May) backs CEO Andy Upsall and the leadership team to scale the business internationally.
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October 31, 2023
- Buyer
- Aileron Therapeutics, Inc.
- Target
- Lung Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- Texas, United States
- Type
- Buyout
Aileron Therapeutics, Inc. (NASDAQ: ALRN) completed a stock-for-stock acquisition of Lung Therapeutics, Inc., bringing the clinical-stage pulmonary and fibrosis-focused pipeline (including lead candidate LTI-03) into Aileron's portfolio. Immediately after the acquisition Aileron arranged a private placement led by Bios Partners (with participation from Nantahala Capital and others) to raise approximately $18 million to fund ongoing development, including a Phase 1b trial of LTI-03.
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October 18, 2023
- Buyer
- Eli Lilly and Company
- Target
- Mablink Bioscience
- Industry
- Biotechnology
- Location
- France
- Type
- Buyout
Mablink Bioscience, a pre-clinical biotechnology company developing antibody-drug conjugates (ADCs) with its PSARLink technology, has entered an agreement to be acquired by Eli Lilly and Company. The acquisition is positioned to expand Mablink’s ADC pipeline and leverage PSARLink to develop additional drug conjugates, subject to French Ministry of the Economy approval.
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October 9, 2023
- Buyer
- QHP Capital
- Target
- Applied StemCell
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
QHP Capital has acquired Applied StemCell, a Milpitas, California–based cell and gene therapy CRO/CDMO that provides iPSC and TARGATT gene‑editing platforms for biopharma and research clients. QHP said the acquisition will provide strategic capital and operating support to accelerate ASC's commercial expansion and scale its manufacturing and service capabilities for the cell and gene therapy market.
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October 6, 2023
- Buyer
- Amgen
- Target
- Horizon Therapeutics plc
- Industry
- Biotechnology
- Location
- United Kingdom
- Type
- Buyout
Amgen completed its acquisition of Horizon Therapeutics plc for $116.50 per share in cash, valuing the transaction equity at approximately $27.8 billion. The deal expands Amgen’s inflammation and rare-disease portfolio by adding Horizon’s first-in-class, early-in-lifecycle medicines such as TEPEZZA, KRYSTEXXA, and UPLIZNA.
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October 5, 2023
- Buyer
- AbbVie
- Target
- Mitokinin
- Seller
- Mitokinin shareholders
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
AbbVie has exercised its exclusive right and completed the acquisition of Mitokinin, a discovery-stage biotechnology company developing a selective PINK1 activator for Parkinson's disease. AbbVie paid $110 million at closing with up to $545 million in additional milestone payments plus tiered royalties contingent on development and commercial milestones.
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October 5, 2023
- Buyer
- Kyowa Kirin Co., Ltd.
- Target
- Orchard Therapeutics plc
- Seller
- Orchard Therapeutics shareholders
- Industry
- Biotechnology
- Location
- England, United Kingdom
- Type
- Buyout
Kyowa Kirin Co., Ltd. agreed to acquire Orchard Therapeutics plc for $16.00 per ADS in cash plus a $1.00 contingent value right (CVR), representing a potential total equity value of approximately $477.6 million. The acquisition gives Kyowa Kirin a leading HSC gene therapy platform and commercial asset Libmeldy, accelerating development and commercialization of Orchard's rare-disease gene therapies.
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- Buyer
- Graf Acquisition Corp. IV
- Target
- NKGen Biotech, Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Graf Acquisition Corp. IV completed its previously announced business combination with NKGen Biotech, Inc., resulting in NKGen becoming a wholly‑owned subsidiary and the combined company listing on Nasdaq under the ticker NKGN. The transaction provides NKGen with access to public markets and capital to accelerate development and commercialization of its autologous, allogeneic and CAR‑NK cell therapy programs.
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- Buyer
- SK pharmteco
- Target
- Center for Breakthrough Medicines
- Industry
- Biotechnology
- Location
- Pennsylvania, United States
- Type
- Buyout
SK pharmteco is acquiring a controlling interest in cell and gene therapy CDMO Center for Breakthrough Medicines (CBM), integrating CBM with its Paris-based Yposkesi to create a global cell & gene therapy business unit. The deal expands SK pharmteco's technical capabilities, production capacity, and U.S./European footprint in advanced biologics manufacturing.
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August 31, 2023
- Buyer
- Otsuka Pharmaceutical Co., Ltd., Otsuka America, Inc.
- Target
- Mindset Pharma Inc.
- Industry
- Biotechnology
- Location
- Ontario, Canada
- Type
- Buyout
Otsuka Pharmaceutical Co., Ltd., through its wholly owned U.S. subsidiary Otsuka America, Inc., agreed to acquire Mindset Pharma Inc. in an all-cash statutory plan of arrangement valued at approximately CAD 80 million. The acquisition adds Mindset’s next-generation psychedelic and non-psychedelic drug discovery assets and synthesis capabilities to Otsuka’s psychiatry and neurology pipeline.
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August 30, 2023
- Buyer
- Lobe Sciences Ltd.
- Target
- Altemia & Company, LLC
- Seller
- Altemia & Company, LLC, Altemia members (Selling Members)
- Industry
- Biotechnology
- Location
- Florida, United States
- Type
- Buyout
Lobe Sciences Ltd. signed an amendment to its share purchase agreement to acquire a 100% interest in Altemia & Company, LLC, including assets, know‑how, IP and commercial inventory related to Altemia, a medical food for sickle cell disease. The amended terms provide for the return and milestone-based reissuance of 76,000,000 Lobe common shares to the Altemia selling members upon achievement of specified development, delivery, commercial sale and tech-transfer milestones.
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August 28, 2023
- Buyer
- Cybin Inc.
- Target
- Small Pharma Inc.
- Industry
- Biotechnology
- Location
- England, United Kingdom
- Type
- Buyout
Cybin Inc. has agreed to acquire all issued and outstanding securities of U.K.-based Small Pharma in an all‑share plan of arrangement. The transaction combines Cybin's and Small Pharma's clinical-stage psychedelic therapeutic programs and IP into a single, publicly traded clinical‑stage biopharmaceutical company headquartered in Toronto.
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August 28, 2023
- Buyer
- Danaher Corporation
- Target
- Abcam plc
- Seller
- Abcam plc shareholders
- Industry
- Biotechnology
- Location
- Cambridgeshire, United Kingdom
- Type
- Buyout
Danaher Corporation agreed to acquire Abcam plc for $24.00 per share, representing an enterprise value of approximately $5.7 billion including assumed indebtedness. Abcam, headquartered in Cambridge, United Kingdom, will operate as a standalone company within Danaher's Life Sciences segment; the transaction is expected to close in mid-2024 and is subject to customary approvals.
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August 22, 2023
- Buyer
- Transnetyx
- Target
- Laragen
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Transnetyx, a Memphis-based provider of outsourced genetic services, has acquired Laragen, a sequencing and genetic services company in Culver City, California. The deal adds Sanger and next-generation sequencing (NGS) capabilities to Transnetyx's service portfolio to broaden its offerings for academic, government, and pharmaceutical research customers.
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- Buyer
- PacBio
- Target
- Apton Biosystems, Inc (Apton)
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
PacBio entered into an agreement to acquire Apton Biosystems, a Bay Area company developing a high-throughput short-read sequencer based on advanced optics, image processing, and clustering/chemistry. PacBio plans to integrate its Sequencing by Binding (SBB) short-read chemistry into Apton’s high-throughput instrument to accelerate development and commercialize a differentiated short-read platform.
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August 1, 2023
- Buyer
- Sygnature Discovery
- Target
- NuChem Sciences
- Industry
- Biotechnology
- Location
- Quebec, Canada
- Type
- Buyout
UK-based integrated drug discovery CRO Sygnature Discovery has acquired Montreal-headquartered NuChem Sciences, one of North America's largest discovery contract research organisations. The deal expands Sygnature's global footprint and capabilities in medicinal chemistry, DMPK, structural biology and in vitro/in vivo pharmacology, strengthening its position in the North American market.
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July 28, 2023
- Buyer
- Biogen Inc.
- Target
- Reata Pharmaceuticals, Inc.
- Industry
- Biotechnology
- Location
- Texas, United States
- Type
- Buyout
Biogen Inc. agreed to acquire Reata Pharmaceuticals, Inc. for $172.50 per share in cash, representing an enterprise value of approximately $7.3 billion. The acquisition adds Reata's FDA-approved SKYCLARYS (omaveloxolone) for Friedreich's ataxia to Biogen's rare disease portfolio and is expected to be significantly accretive to Biogen's Non-GAAP diluted EPS beginning in 2025; the transaction was anticipated to close in Q4 2023.
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July 25, 2023
- Buyer
- Solar Biotech Inc.
- Target
- Noblegen
- Industry
- Biotechnology
- Location
- Ontario, Canada
- Type
- Buyout
Solar Biotech Inc., a Norton, Virginia-based synthetic biology and bioprocessing company, has acquired Noblegen, an advanced digital biology and precision fermentation company based in Peterborough, Ontario. Noblegen will operate as Solar Biotech Canada and serve as the group's food-grade-certified biomanufacturing and R&D hub, expanding Solar Biotech's upstream/downstream capabilities and on‑the‑ground capacity in Canada.
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July 17, 2023
- Buyer
- Novartis
- Target
- DTx Pharma
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Novartis has acquired DTx Pharma, a San Diego–based preclinical biotechnology company, for an upfront payment of USD 500 million plus contingent milestone payments. The deal brings DTx's FALCON siRNA delivery platform and lead program DTx-1252 (orphan-designated for CMT1A) into Novartis to strengthen its neuroscience pipeline and xRNA capabilities.
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July 14, 2023
- Buyer
- Eli Lilly and Company
- Target
- Versanis Bio
- Industry
- Biotechnology
- Location
- New York, United States
- Type
- Buyout
Eli Lilly has entered into a definitive agreement to acquire Versanis Bio, a private clinical-stage biopharmaceutical company developing bimagrumab for cardiometabolic diseases and obesity. The deal could deliver up to $1.925 billion to Versanis shareholders and is intended to combine Versanis’ activin/myostatin biology expertise with Lilly’s incretin portfolio to advance combination treatments for obesity and related cardiometabolic conditions.
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July 11, 2023
- Buyer
- Biosynth
- Target
- celares GmbH
- Industry
- Biotechnology
- Location
- Berlin, Germany
- Type
- Buyout
Biosynth, a Switzerland-based supplier of critical raw materials and manufacturing services, acquired Berlin-based celares, a developer and manufacturer of bioconjugates, activated PEGs and polymer-based drug delivery excipients. The acquisition strengthens Biosynth's capabilities in conjugate vaccines and bioconjugate drugs and adds GMP bioconjugation and PEGylation manufacturing in Berlin to its service offering.
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- Buyer
- Biocomposites
- Target
- Renovos Biologics
- Industry
- Biotechnology
- Location
- Hampshire, United Kingdom
- Type
- Growth capital
Biocomposites has taken a minority equity stake in Renovos Biologics to support development and pre-market approval of the RENOVITE nanoclay therapeutic delivery platform. The investment will give Renovos access to Biocomposites' development expertise and global distribution network; Biocomposites CEO Michael Harris will join Renovos' board.
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June 29, 2023
- Buyer
- Eli Lilly and Company
- Target
- Sigilon Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Eli Lilly agreed to acquire Sigilon Therapeutics in a cash tender offer valuing the biotech at roughly $34.6 million up front plus contingent value rights that could increase total consideration to about $309.6 million. The acquisition brings Sigilon's encapsulated cell therapy platform (including SIG-002 for type 1 diabetes) into Lilly's diabetes and cell-therapy R&D efforts to accelerate development and potential commercialization.
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June 28, 2023
- Buyer
- Intus Biosciences, LLC
- Target
- Pattern Genomics, LLC
- Industry
- Biotechnology
- Location
- Connecticut, United States
- Type
- Buyout
Intus Biosciences (Intus Bio) has acquired Pattern Genomics, integrating Pattern's advanced genomic analysis and machine learning tools into Intus Bio's Titan-1 microbiome assay and analysis platform. The acquisition, supported by investor Connecticut Innovations, brings Pattern Genomics' founder Daniel Fasulo into Intus Bio as Head of IT and Bioinformatics to accelerate capability expansion and biomarker discovery across healthcare and pharmaceutical end markets.
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June 26, 2023
- Buyer
- Swedish Orphan Biovitrum AB (Sobi)
- Target
- CTI BioPharma Corp.
- Industry
- Biotechnology
- Location
- Washington, United States
- Type
- Buyout
Swedish Orphan Biovitrum AB (Sobi) completed the acquisition of CTI BioPharma Corp. through a cash tender offer and subsequent merger, paying USD 9.10 per share for a transaction valued at up to USD 1.7 billion. CTI, a Seattle-based biopharmaceutical company with the FDA-approved product VONJO and ~144 employees, becomes an indirect wholly owned subsidiary of Sobi and will be delisted from NASDAQ.
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- Buyer
- Solve Therapeutics, Inc.
- Target
- Cereius, Inc.
- Seller
- Cereius shareholders
- Industry
- Biotechnology
- Location
- North Carolina, United States
- Type
- Buyout
Solve Therapeutics, an oncology-focused biopharmaceutical company, has acquired Cereius, a Duke University spin-out that developed a site-specific radiolabeling chemistry platform for targeted radiodiagnostics and radiotherapeutics. The deal transfers Cereius’ platform and team into SolveTx to support development of targeted radionuclide therapeutics and companion diagnostics for oncology; Cereius shareholders will receive an undisclosed upfront payment plus potential milestone and royalty payments.
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June 22, 2023
- Buyer
- Aeglea BioTherapeutics, Inc.
- Target
- Spyre Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Aeglea BioTherapeutics completed a stock-for-stock acquisition of Spyre Therapeutics, a privately held biotechnology company advancing antibody therapeutics for inflammatory bowel disease (IBD). Concurrent with the acquisition Aeglea announced a $210 million PIPE led by Fairmount Funds to advance Spyre’s pipeline (lead programs SPY001 and SPY002) into clinical studies and fund operations into 2026.
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June 20, 2023
- Buyer
- Eli Lilly and Company
- Target
- DICE Therapeutics, Inc.
- Seller
- DICE Therapeutics stockholders
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Eli Lilly agreed to acquire DICE Therapeutics for $48 per share (approximately $2.4 billion) in an all-cash tender offer to bolster Lilly's immunology pipeline and leverage DICE's DELSCAPE small-molecule discovery platform and oral IL-17 inhibitor programs. The transaction, approved by both boards, is expected to close in Q3 2023 subject to customary conditions and antitrust clearance.
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June 17, 2023
- Buyer
- Vector Laboratories
- Target
- Quanta BioDesign
- Industry
- Biotechnology
- Location
- Ohio, United States
- Type
- Buyout
Vector Laboratories has acquired Quanta BioDesign, the inventor of discrete polyethylene glycol (dPEG) technology, expanding Vector's bioconjugation linkers, dyes and payload delivery capabilities. The Plain City, Ohio-based company's dPEG reagents will broaden Vector's product portfolio and support life science and biopharma customers in therapeutic, diagnostic and research applications.
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June 12, 2023
- Buyer
- Novartis AG
- Target
- Chinook Therapeutics, Inc.
- Seller
- Chinook Therapeutics stockholders
- Industry
- Biotechnology
- Location
- Washington, United States
- Type
- Buyout
Novartis AG agreed to acquire Chinook Therapeutics for $40 per share in cash, with contingent value rights of up to $4 per share tied to regulatory milestones —bringing total consideration to as much as approximately $3.5 billion. The acquisition, approved by both companies' boards, brings Chinook's kidney-disease pipeline into Novartis' renal portfolio and was expected to close in the second half of 2023 subject to customary conditions.
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- Buyer
- Temasek, QIA, BlackRock Alternatives, Nextech, ATHOS, Carbyne
- Target
- ITM Isotope Technologies Munich SE
- Industry
- Biotechnology
- Location
- Bavaria, Germany
- Type
- Growth capital
Temasek led a €255 million equity investment round in ITM Isotope Technologies Munich SE, with participation from QIA, BlackRock Alternatives, Nextech, ATHOS and Carbyne. The proceeds (mostly primary capital with a minority secondary component) will advance ITM's targeted radionuclide therapy pipeline, support late-stage clinical development of ITM-11, and expand GMP manufacturing capacity for n.c.a. 177Lu and 225Ac while bolstering commercial infrastructure.
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- Buyer
- Paine Schwartz Partners (Paine Schwartz Food Chain Fund VI)
- Target
- Elemental Enzymes
- Industry
- Biotechnology
- Location
- Missouri, United States
- Type
- Growth capital
Paine Schwartz Partners (via Paine Schwartz Food Chain Fund VI) completed a strategic growth investment in Elemental Enzymes, a St. Louis-based developer of naturally occurring enzymes and biochemicals for commercial agriculture. Financial terms were not disclosed; the Elemental Enzymes management team will remain in place and will work with Paine Schwartz to expand R&D, launch new products, and enter new markets.
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June 1, 2023
- Buyer
- Lonza Group AG
- Target
- Synaffix B.V.
- Industry
- Biotechnology
- Location
- Netherlands
- Type
- Buyout
Lonza Group AG has acquired Synaffix B.V., a Netherlands-based biotech company that commercialises a clinical-stage antibody-drug conjugate (ADC) technology platform. The deal brings Synaffix's ADC bioconjugation technology into Lonza's integrated ADC development and manufacturing offering to accelerate discovery, development, scale-up and commercialization of ADCs.
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