Biopharma deals in September amounted to $12.79 billion, marking a 20% drop in value from August’s $15.94 billion. Despite the month-to-month decline, the sector has seen strong momentum throughout the first three quarters of 2024, with total deal values reaching $149.02 billion. This represents a 14% increase from the $130.38 billion recorded during the same period in 2023, with 2024 remaining the highest year-to-date deal value on record for BioWorld.

H. Lundbeck A/S is to acquire Longboard Pharmaceuticals Inc. in an all-cash deal valuing the epilepsy specialist at $2.6 billion. The agreed price of $60 per share is a 54% premium to the closing price of Longboard stock (NASDAQ:LBPH) on Oct. 11 and represents the biggest deal in Lundbeck’s 110-year history. The acquisition will give the Copenhagen, Denmark-based pharma company ownership of bexicaserin, which in September entered phase III development in Dravet syndrome. The 5-HT2C agonist has the potential to treat this and other rare developmental and epileptic encephalopathies, for most of which there are no approved therapies.

Hologic Inc. signed an agreement to acquire Gynesonics Inc. for $350 million. The acquisition will significantly boost Hologic’s revenues from surgical gynecology and provide an option not met by the company’s current portfolio of products.

Biopharma deals in September amounted to $12.79 billion, marking a 20% drop in value from August’s $15.94 billion. Despite the month-to-month decline, the sector has seen strong momentum throughout the first three quarters of 2024, with total deal values reaching $149.02 billion. This represents a 14% increase from the $130.38 billion recorded during the same period in 2023, with 2024 remaining the highest year-to-date deal value on record for BioWorld.

Gilead Sciences Inc. terminated a potential $785 million licensing deal with Yuhan Corp. inked in 2019 to develop metabolic dysfunction-associated steatohepatitis (MASH) therapies.

Ceribell Inc. launched its initial public offering of more than 10.6 million shares of common stock at $17 and steadily saw the trading value rise, before closing just over $25 on Oct. 11 per share. Ceribell, which developed a portable electroencephalogram for use in intensive care and emergency department settings, expected to gross $180.3 million from the IPO excluding any exercise of the underwriters’ option to purchase additional shares. The IPO will close on Oct. 15.

Keybioscience AG and Eli Lilly & Co. have agreed to extend their collaboration on the development of dual amylin and calcitonin receptor agonists (DACRAs), a new class of potential treatments for obesity and related disorders.

Ono Pharmaceutical Co. Ltd. has entered into a license agreement with Ligachem Biosciences Inc. for LCB-97, a preclinical stage antibody-drug conjugate (ADC) for solid tumors.