Deals
Going private could give Recordati strategic flexibility and a stable source of capital, according to CVC Capital Partners and Groupe Bruxelles Lambert, which are offering to take the Italian pharma private for a 13% premium.
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European pharma companies splashed billions of dollars into the U.S. biopharma sector in a matter of days, but there are differing views on whether the activity represents the rise of a new buyer class or a quirk of timing.
After years of suffering from a bear market and more than 14 months of geopolitical turmoil shaking the macroenvironment, biotech appears to be moving on.
With six acquisitions already this year, Eli Lilly’s business development shows no signs of stopping as executives make good on a promise to spend their GLP-1 gains.
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With a $425 million upfront payment, Bayer bolstered its women’s healthcare pipeline with the acquisition of U.K.-based KaNDy Therapeutics and its investigational treatment for menopause.
AlloVir raised $276 million in an upsized initial public offering. The funds will be used to advance the company’s efforts to develop an allogeneic cell therapy to control infections in immunocompromised patients.
Cerevel Therapeutics, which spun out of Pfizer two years ago, entered into a business combination deal with Arya Sciences Acquisition Corp II, a special purpose acquisition company (SPAC) sponsored by Perceptive Advisors.
COVID-19 put many businesses on hold, but not biotech. This sector is growing at record speeds, and only a small portion of the capital deals are related to the pandemic.
Rumors are flying that Paris-based Sanofi has a $50 billion budget for mergers and acquisitions and is taking a look at U.S.-based biotech companies. At the top of the list, reportedly, is South San Francisco-based Principia Biopharma.
Unum Therapeutics announced on Monday that it has successfully completed its acquisition of Kiq LLC, a privately held biotechnology company with a focus on the discovery and development of precision kinase inhibitors.
Specifically, the report indicated that biotechnology companies drove the healthcare industry to make up almost two-thirds of IPO activity in the second quarter of 2020.
Relay Therapeutics was the No. 3 company in BioSpace’s NextGen Bio Class of 2018, Top 20 Life Science Startups to Watch in 2018.
Today, Gilead announced that it was acquiring a 49.9% equity interest in Pionyr Immunotherapeutics for $275 million and exclusive option to buy the rest of the company.
The company is focused on developing cell and gene therapies based on a proprietary DNA modification, gene editing and delivery technology.