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

Deals and M&A
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Women handshake with virology graphics

Med-tech deals and M&As sink in Q1; digital health dips

April 27, 2023
By Karen Carey
No Comments
Despite a strong 2022 for both med-tech deals and M&As, the industry lost ground with both types of transactions in the first quarter of 2023, with deal values falling 32% and M&A values dropping 83%, in comparison with the first quarter of last year.
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Connecting puzzle pieces

Quest finds $450M needle in Haystack acquisition, Foresight sees nearly $59M financing round

April 27, 2023
By Annette Boyle
No Comments
Quest Diagnostics Inc. evidently found what it was looking for, as it agreed to acquire Haystack Oncology Inc. in an all-cash deal valued at up to $450 million with $300 million at closing and $150 million contingent on meeting specific milestones. Haystack focuses on minimal residual disease (MRD) testing, which can detect residual or recurring cancer in its early stages and help guide therapy decisions using blood samples rather than biopsied tissue. The companies expect the transaction to close before the end of June.
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Baqsimi

Amphastar to pay Lilly about $1B in Baqsimi blood sugar rescue deal

April 24, 2023
By Caroline Richards
No Comments
Eli Lilly and Co. is selling worldwide rights to its hypoglycemia nasal treatment Baqsimi to Amphastar Pharmaceuticals Inc. in a deal potentially worth over $1 billion. Under the agreement, Amphastar, of Rancho Cucamonga, Calif., will foot a $500 million cash payment on closing, and will pay Indianapolis-based Lilly an additional $125 million on the one year anniversary of closing. Lilly is also eligible to receive milestone payments of up to $450 million, based on annual sales of $175 million and $200 million, and on total net sales over five years of $950 million.
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EC to 'cut red tape' for merging pharma firms

April 21, 2023
By Caroline Richards
No Comments
The European Commission is bringing out rules designed to further simplify and streamline procedures for pharmaceutical companies planning on merging under EU Merger Regulation rules. The commission assesses mergers and acquisitions of companies whose turnover exceeds certain thresholds to prevent concentrations that would significantly impede effective competition in the European Economic Area or in a substantial part of it.
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Fusion-Quick-Compact.jpg

Alphatec nabs Fusion Robotics’ REMI system for $55M

April 20, 2023
By Annette Boyle
No Comments
Alphatec Holdings Inc. (ATEC) acquired the robotic-enabled minimally invasive (REMI) system from Fusion Robotics LLC, a division of Integrity Implants Inc. (dba Accelus Inc.), for $55 million in cash. The deal brings a sophisticated navigation system for spine procedures into the Alphatec fold, something management previously identified as a target for expansion. Alphatec focuses on spinal surgery solutions. REMI integrates navigation and robotics into a range of spinal procedures and allows use of either a 3D imaging scan or 2D fluoroscopic images to precisely guide instruments and implants to the desired location during surgery.
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Antibody-drug conjugate

BMS bets on Tubulis ADC platform in potential $1B deal

April 20, 2023
By Cormac Sheridan
No Comments
Tubulis GmbH is banking $22.75 million up front and could earn more than $1 billion in development, regulatory and commercial milestones from an alliance with Bristol Myers Squibb Co. focused on the design and development of antibody-drug conjugates for solid tumor applications. It would also receive tiered royalties on the sales of any products that emerge from the pact.
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Nitric oxide firm 30 Technology sells wound care unit to focus on antibiotic-resistant infections

April 19, 2023
By Nuala Moran
No Comments
30 Technology Ltd. has divested its wound care business, leaving it to focus on pharmaceutical applications of its patented nitric oxide-generating chemistry in the treatment of antibiotic-resistant respiratory infections.
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SNBL acquires Satsuma to launch nasal powder for migraine

April 18, 2023
By Doris Yu
No Comments
Shin Nippon Biomedical Laboratories Ltd. (SNBL) agreed to acquire Satsuma Pharmaceuticals Inc.as part of a deal worth as much as $220 million that includes rights to the STS-101 migraine drug. Shin Nippon will pay 91 cents in cash per share, as well as a non-tradeable contingent value right worth up to $5.77 per share based on the potential sale, license, or other grant of rights of Satsuma’s migraine drug STS-101.
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Hands holding puzzle pieces with digital globe overlay

Biopharma deals slip in Q1, completed M&As remain low

April 18, 2023
By Karen Carey
No Comments
Despite strong deal activity throughout each of the last two years, the volume and value of partnerships began sliding in the first quarter (Q1) of 2023, while M&As continue to trail several other years.
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Specialised Therapeutics obtains rights to market PD-1 inhibitor from CTTQ-Akeso in $73M deal

April 18, 2023
By Doris Yu
No Comments
Specialised Therapeutics Asia Pte Ltd. has inked a $73 million deal with CTTQ-Akeso Biomed Tech. Co. Ltd. to buy the rights to commercialize the latter’s anti-PD-1 antibody in Australia and Southeast Asia.
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