Senior Deals Analyst
Latest From Maureen Riordan
During Q2 biopharmas reached $5.9bn in merger and acquisition value and drew in $44bn in potential deal value from alliances. Device company M&A values reached $159m, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $1.4bn.
During Q2 biopharmas brought in an aggregate $32.3bn in financings and device company fundraising totaled $9.5bn; while in vitro diagnostic firms and research tools players brought in $2bn across the period.
Genmab and AbbVie penned a broad oncology collaboration worth up to $3.9bn. Novo Nordisk entered into an agreement to acquire Corvidia Therapeutics for $725m up front in cash and up to $1.375bn in earn-outs.
Device financing totaled $1.4bn during the first quarter of 2020. Merger and acquisition activity reached $714.5m, with only two transactions hitting the six-figure mark. Financings by diagnostics/research players totaled $985m and just six companies were acquired, four of which together were valued at $11.6bn, most coming from Thermo Fisher Scientific’s $11.5bn buy of fellow public life sciences company Qiagen NV.
Repare Therapeutics and Bristol Myers Squibb announced a multi-target discovery collaboration potentially worth over $3bn. Alexion Pharmaceuticals entered into a definitive agreement to acquire fellow public biotech Portola Pharmaceuticals $1.44bn. An increase in both follow-on public offerings and PIPE financings boosted biopharma financing significantly from last month.
During Q1, biopharmas brought in an aggregate $13.8bn in financing. M&A value reached $6.9bn, the majority from Gilead Sciences $4.9bn purchase of immuno-oncology firm Forty Seven. Alliances fetched $35bn in potential deal value, dominated by many Big Pharma tie-ups led by a $4bn discovery and development collaboration between AstraZeneca and Silence Therapeutics for siRNA therapeutics.