Deals: Page 15
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PureTech, Nektar end talks of combination
Days after acknowledging that discussions were taking place, the two companies have called off further negotiations over a possible deal, leaving Nektar’s future again uncertain.
By Jonathan Gardner • Updated Oct. 11, 2022 -
Permission granted by Incyte
Incyte, branching out in dermatology, to buy startup Villaris
The acquisition, Incyte’s first of an entire company, hands the pharmaceutical company a potentially long lasting treatment for the skin disease vitiligo.
By Gwendolyn Wu • Oct. 3, 2022 -
Spencer Platt via Getty Images
Myovant rejects $2.4B buyout offer from Japanese majority owner
The biotech said the proposed offer “significantly undervalues” the company, but that it’s open to considering a higher bid.
By Christopher Newman • Oct. 3, 2022 -
Lisa Maree Williams via Getty Images
AstraZeneca to acquire gene editing biotech LogicBio
Shares in LogicBio had lost nearly all their value since a 2018 IPO, bringing the company to the brink of Nasdaq delisting. The buyout deal represents a premium of over 600%.
By Delilah Alvarado • Oct. 3, 2022 -
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Solid Bio yields to Sarepta on Duchenne with plans for merger, R&D shakeup
The biotech, which fell behind Sarepta in developing a Duchenne gene therapy, will merge with AavantiBio, a startup run by a former Sarepta executive.
By Ben Fidler • Sept. 30, 2022 -
Permission granted by Ventus Therapeutics
Ventus sells its lead drug candidate to Novo Nordisk
The biotech will part with its lead drug candidate, an anti-inflammatory small molecule, in Novo Nordisk’s bet on inflammasome treatments.
By Gwendolyn Wu • Sept. 29, 2022 -
Peddalanka Ramesh Babu via Getty Images
Roche pays $70M in another bid to catch up on cancer cell therapies
Rival companies have set a standard in lymphoma and leukemia. Now the Swiss drugmaker wants to be a pioneer in cell treatments for solid tumors.
By Jonathan Gardner • Sept. 27, 2022 -
Permission granted by Seagen
Seagen, amid deal rumors, spends $50M on a dual-targeting cancer drug
While a long-rumored acquisition by Merck & Co. still hasn’t materialized, Seagen is forging ahead with a deal of its own, grabbing rights to a bispecific antibody drug from Lava Therapeutics.
By Jacob Bell • Sept. 26, 2022 -
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AstraZeneca gives up on Ionis’ RNA drug for heart disease
The British drugmaker decided the medicine, which works similarly to Novartis’s Leqvio, wasn’t potent enough to justify further testing.
By Jonathan Gardner • Sept. 23, 2022 -
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Cell therapy startup Carisma merges with troubled Sesen in bid for Wall Street
The deal results from a strategic review Sesen, formerly known as Eleven Biotherapeutics, undertook after the FDA rejected its top drug last year.
By Gwendolyn Wu • Sept. 21, 2022 -
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Rocket gives struggling gene therapy company a lifeline after SPAC merger
Rocket is acquiring Renovacor at a roughly 75% discount to its public debut price last year, when it became one of dozens of biotechs to merge with a blank check company, or SPAC.
By Ben Fidler • Sept. 20, 2022 -
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GenFit, continuing rebuild, buys startup Versantis
The French company, still aiming to rebound from a Phase 3 study failure two years ago, will pay about $41 million for Versantis and its experimental liver disease drugs.
By Delilah Alvarado • Sept. 19, 2022 -
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Theravance, flush with royalty cash, buys shares from GSK
The planned transaction will further unwind the respiratory disease company’s relationship with GSK, which dates back two decades.
By Jonathan Gardner • Sept. 19, 2022 -
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After safety setbacks, job cuts, Imara sells its top drug to a startup
The biotech, which has lost nearly all of its value since going public in 2020, reached a deal to sell a drug it tested in sickle cell disease to Cardurion Pharmaceuticals, a richly funded company focused on cardiovascular research.
By Kristin Jensen • Sept. 8, 2022 -
Roche to pay $250M for Good Therapeutics and its targeted drug technology
The team behind the Seattle-based startup will launch a new company, Bonum Therapeutics, after the sale to Roche is completed.
By Kristin Jensen • Sept. 7, 2022 -
Courtesy of Illumina
Illumina’s hold on Grail depends now on separate appeals in US, Europe
While it plans to appeal this week’s EC decision, Illumina say it’s preparing for ‘strategic alternatives’ to its acquisition of early cancer detection firm Grail.
By Elise Reuter • Updated Sept. 6, 2022 -
Courtesy of Grail
Judge rules in favor of Illumina, countering FTC concerns over Grail merger
The ruling makes it more likely Illumina can retain its former subsidiary, which makes cancer diagnostics. The dispute is an important test case for the agency’s plans to more closely scrutinize life sciences mergers.
By Elise Reuter , Ricky Zipp • Sept. 2, 2022 -
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With rare acquisition, Novo Nordisk makes $1B bet on sickle cell disease drug
The target company, Forma Therapeutics, started as a developer of cancer drugs but has made the most progress in rare blood disorders, attracting Novo’s attention.
By Jonathan Gardner • Updated Sept. 6, 2022 -
Spencer Platt via Getty Images
Biotech startup Ocean pivots from IPO to SPAC merger
The blank-check deal gives Ocean another route to public markets after it struggled to price an initial public offering it revealed back in June 2021.
By Delilah Alvarado • Aug. 31, 2022 -
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Neurocrine, with latest deal, gets a foothold in Europe
The neuroscience-focused company has agreed to buy U.K.-based Diurnal for around $57 million, a move it expects to “accelerate the establishment of its clinical development and commercial activities” in Europe.
By Jacob Bell • Aug. 30, 2022 -
Novartis begins plans to spin off generic drug business
After reviewing multiple options including a possible sale, the Swiss drugmaker said spinning off Sandoz would give the division “greater freedom to operate” and capitalize on newly growing sales.
By Jonathan Gardner • Aug. 25, 2022 -
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Aerie’s glaucoma drug journey ends in $770M sale to Alcon
The biotech successfully brought two medicines to market, but shares have lost most of their value amid sluggish sales.
By Ben Fidler • Aug. 23, 2022 -
Permission granted by Disc Medicine
Gemini’s fall gives Disc a way around biotech’s IPO slump
The biotech’s failed attempt to develop an eye drug has ended in a reverse merger that gives startup Disc Medicine a fast path to the public markets.
By Gwendolyn Wu • Aug. 10, 2022 -
David Dee Delgado via Getty Images
Pfizer buys sickle cell drugmaker Global Blood for $5.4B
The acquisition gives Pfizer access to Oxbryta, an approved drug for the blood condition, as well as two experimental medicines.
By Delilah Alvarado , Ned Pagliarulo • Updated Aug. 8, 2022 -
Permission granted by Gilead Sciences
How a small UK biotech ended up in Gilead’s hands
MiroBio, which was spun out of the University of Oxford three years ago, drew Gilead’s interest with its autoimmune disease research.
By Gwendolyn Wu • Aug. 5, 2022
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