During Q4, medical device company M&A values reached $5.7bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $3.3bn.

Molecular Templates penned a research collaboration with Bristol Myers Squibb to discover and develop multiple therapies designed for specific oncology targets using Molecular’s next-generation engineered toxin body platform. BMS paid $70m up front and could shell out development and regulatory milestones up to $874.5m and $450m upon the achievement of certain sales milestones. ICON entered into a definitive agreement to acquire fellow public CRO PRA Health Sciences in a 48% cash and 52% stock transaction valued at approximately $12bn. Financing reached $11.4bn in biopharma, $1.2bn in device, and $1.5bn in diagnostics.

BeiGene and Novartis penned a potential $2.2bn collaboration for the development, manufacture, and commercialization of BeiGene’s humanized IgG4 anti-PD-1 monoclonal antibody tislelizumab in the US, Canada, Mexico, member countries of the EU, the UK, Norway, Switzerland, Iceland, Liechtenstein, Russia, and Japan. Steris entered into a definitive agreement to acquire Cantel Medical, a global provider of infection prevention products and services primarily to endoscopy and dental customers. The total enterprise value of the deal is estimated at $4.6bn. Financing reached $10.5bn in biopharma, $984m in device, and $2.7bn in diagnostics.

During Q4, device company fundraising totaled $4.2bn; while in vitro diagnostic firms and research tools players raised $6.1bn.

During Q4, biopharma merger and acquisition value reached $73.9bn and drew in $54.5bn in potential deal value from alliances. Device company M&A values reached $5.7bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $3.3bn.

During Q4, biopharmas brought in an aggregate $53.5bn in financing and device company fundraising totaled $4.2bn; while in vitro diagnostic firms and research tools players raised $6.1bn.