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BioWorld - Saturday, June 10, 2023
Home » Topics » Deals and M&A

Deals and M&A
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M&A with declining bar chart
Biopharma deals May 2023

Overall deal value keeps last year’s pace as M&A values tumble

June 9, 2023
By Amanda Lanier
No Comments
Biopharma deal values are continuing to track at a similar pace to last year, down only 0.31% compared to the first five months of 2022, while there have been 173 fewer deals. M&A values are at their lowest value in all years tracked by BioWorld (2016-2023).
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Biotech deal illustration

Quell’s Treg approach lands $2B Astrazeneca deal to focus on IBD, type 1 diabetes

June 9, 2023
By Nuala Moran
No Comments
Regulatory T-cell specialist Quell Therapeutics Ltd. has sealed a potential $2 billion agreement under which Astrazeneca plc is taking rights to two autologous Treg cell therapies for treating inflammatory bowel disease (IBD) and type 1 diabetes. Quell will receive $85 million up front, the majority of which is in cash, with a modest (undisclosed) equity investment. Reaching the $2 billion headline figure will involve a series of development and commercial milestones and royalties on sales.
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Handshake dollar sign

Merit Medical acquires dialysis, biopsy products for $132M in two deals

June 9, 2023
By Annette Boyle
No Comments
Merit Medical Systems Inc. is making progress on its acquisition badge, with a $100 million purchase of assets from Angiodynamics Inc. following shortly on the heels of its acquisition of a catheter system from Bluegrass Vascular Technologies Inc. for $32.5 million. The acquisitions strengthen Merit’s position in the specialty dialysis devices market and are expected to boost the company’s revenues $13 million to $15 million through Dec. 31, 2023, and by $30 million on an annualized basis going forward.
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Concept art for adeno-associated viral-based gene therapy.

Next-gen AAV developer Kate Therapeutics debuts with $51M series A plus Astellas license deal

June 9, 2023
By Cormac Sheridan
No Comments
Gene therapy developer Kate Therapeutics Inc. (KateTx), which is developing next-generation adeno-associated virus (AAV) vectors that target skeletal and cardiac muscle, has unveiled $51 million series A round and a licensing deal with Astellas Pharma Inc.
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Mallya sensor on insulin pen

Novo Nordisk negotiating takeover of insulin pen maker Biocorp

June 6, 2023
By Bernard Banga
No Comments
Novo Nordisk A/S has entered into exclusive negotiations for a controlling stake in Biocorp SA, suppliers of Mallya, a Bluetooth-enabled smart add-on device for insulin pen injectors. The takeover will be phased over several stages. Novo Nordisk has initially negotiated with Bio Jag SAS, Biocorp’s principal shareholder, to purchase its entire stake in Biocorp, representing 45.3% of the share capital and 62.19% of the voting rights. Certain minority shareholders, including Nyenburgh Holding BV, Greenstock EIG and Vatel Capital SAS, who together account for 19% of Biocorp’s shares, have agreed to transfer their shares to Novo Nordisk once acquisition of the Bio Jag stake is complete.
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Acquisition target

Gurnet Point, Novo Holdings to acquire Paratek in transaction valued at $462M

June 6, 2023
By Karen Carey
No Comments
As it nears the end of its cash runway and its lead antibiotic, Nuzyra, approaches a phase IIb readout, Paratek Pharmaceuticals Inc. agreed to be acquired by Gurnet Point Capital and Novo Holdings A/S for up to $3 per share in a deal that will take the company private.
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Handshake behind digital globe

In $392M deal, C4 and Betta partner in China on preclinical NSCLC drug

June 6, 2023
By Karen Carey
No Comments
In a deal potentially worth $392 million, C4 Therapeutics Inc. signed with Betta Pharmaceuticals Co. Ltd. to develop and market an orally bioavailable BiDAC degrader for non-small-cell lung cancer (NSCLC).
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Acquisition puzzle

Avacta acquires Coris for £7.4M as it builds diagnostics business

June 2, 2023
By Shani Alexander
No Comments
Avacta Group plc has continued its growth through M&A strategy with the acquisition of Coris Bioconcept Sprl, a developer of rapid diagnostic test kits, for an up-front cash consideration of £7.4 million (US$9.3 million). The Coris deal comes on the back of its £24 million purchase of Launch Diagnostics Holdings Ltd last year, as Avacta works on building up its diagnostics division.
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Lonza acquires ADC firm Synaffix for $108M up front, $65M in milestones

June 1, 2023
By Cormac Sheridan
No Comments
Lonza Group Ltd. has acquired Synaffix BV, the developer of a widely partnered set of tools for generating antibody-drug conjugates (ADCs), for €100 million (US$108 million) up front plus up to €60 million more in milestones.
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Freenome buys immunodiagnostics company Oncimmune for $16M

May 30, 2023
By Meg Bryant
No Comments
Freenome Inc. has acquired U.K.-based immunodiagnostics developer Oncimmune Ltd. for £13 million (US$16 million), in a move that bolsters Freenome’s frontline early cancer detection efforts. While Freenome has been largely focused on getting the U.S. FDA’s nod for its colorectal cancer test, Oncimmune already has a CE-IVD marked EarlyCDT Lung blood test, an autoantibody platform and an R&D pipeline of over seven cancer detection signals.
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