Biotechnology Buyout Acquisitions in 2026

Sensei Biotherapeutics (Nasdaq: SNSE) has acquired clinical-stage Faeth Therapeutics in a stock-for-stock transaction that brings Faeth's lead oncology asset PIKTOR into Sensei's pipeline. Concurrently Sensei raised approximately $200 million in a private placement of Series B non-voting convertible preferred stock from a syndicate of institutional life-sciences investors to advance PIKTOR through Phase 2 topline data and initiate a Phase 1b breast cancer trial.

Swedish Orphan Biovitrum AB (Sobi) has completed the acquisition of Arthrosi Therapeutics, acquiring all outstanding shares and adding pozdeutinurad (AR882), an investigational once-daily oral URAT1 inhibitor in two fully enrolled Phase 3 trials. The acquisition strengthens Sobi's gout franchise and pipeline; Arthrosi is headquartered in San Diego and rights to pozdeutinurad in Greater China are held by ApicHope. Pivotal Phase 3 data from REDUCE 1 and REDUCE 2 are expected in 2026.

Illumina has completed its acquisition of SomaLogic from Standard BioTools for $350 million in cash plus up to $75 million in near-term performance-based payments, adding SomaLogic's proteomics capabilities to Illumina's multiomics strategy. The deal expands Illumina's ability to integrate SomaLogic's SomaScan platform with its NGS ecosystem, DRAGEN software, and Illumina Connected Multiomics to accelerate proteomics at scale while Standard BioTools receives upfront cash, potential earnouts and ongoing royalties.

Eclipse Bioinnovations (Eclipsebio) has acquired Terrain Bio to integrate Terrain's AI/ML RNA design models and R&D-scale mRNA manufacturing analytics into Eclipsebio's sequencing-based validation platforms. The deal creates an end-to-end Design, Make, Test platform intended to accelerate RNA therapeutic development by connecting computational design directly to experimental feedback.

Demeetra AgBio has completed the acquisition and full integration of Hera BioLabs, consolidating commercial rights to the hyperactive Super piggyBac transposase platform under Demeetra. The deal brings Hera’s in vitro services into Demeetra’s R&D, winds down Hera’s in vivo services, and positions Demeetra as the definitive commercial licensor for Super piggyBac across research, development, and biomanufacturing use cases.

Repare Therapeutics has been acquired by XenoTherapeutics, Inc. and Xeno Acquisition Corp. (jointly “Xeno”) pursuant to a statutory plan of arrangement. Under the transaction, Repare shareholders received approximately US$2.20 per share plus one contingent value right (CVR) per share; the deal was approved by shareholders and the Superior Court of Québec and will result in Repare’s delisting and suspension of public reporting.

BioCryst Pharmaceuticals has completed its acquisition of Astria Therapeutics for an implied transaction value of approximately $700 million, financed with cash on hand and a ~$396.6 million facility provided by funds managed by Blackstone plus ~37.3 million BioCryst shares issued to Astria equity holders. The deal adds Astria's Phase 3 long-acting plasma kallikrein inhibitor navenibart to BioCryst's hereditary angioedema (HAE) portfolio and provides Astria's early-stage atopic dermatitis program (STAR0310) for which BioCryst will pursue strategic alternatives.

Taconic Biosciences has acquired TransCure bioServices SAS to create an integrated global translational research platform combining Taconic's genetically engineered and humanized mouse models with TransCure's preclinical in vivo services. The deal expands Taconic's capabilities across oncology, immunology, infectious disease, and advanced modalities while preserving TransCure's brand and operational structure to ensure continuity for employees and clients.

Zydus Lifesciences Limited has completed purchase agreements with Agenus Inc. to acquire Agenus' biologics manufacturing facilities and operations in Emeryville and Berkeley, California, and has established a U.S. CDMO subsidiary, Zylidac Bio LLC, to operate the assets. The deal includes exclusive manufacturing arrangements for Agenus' Phase 3 immuno-oncology candidates (botensilimab and balstilimab), exclusive commercialization rights for those assets in India and Sri Lanka, and an equity investment in Agenus via Zynext Ventures; regulatory approvals including CFIUS clearance were secured.

Curi Bio completed a full acquisition of South Korea-based Quvit Bio and has established Curi Bio Co., Ltd. as its Asia-Pacific commercial and operational hub. The deal integrates Quvit's imaging hardware, software and team to expand Curi Bio's localized sales, R&D and operational capabilities across South Korea, Japan and China.

Acuitas Therapeutics has acquired a majority stake in RNA Technologies & Therapeutics (RNA T&T), deepening a long-standing collaboration to integrate RNA payload design and LNP delivery capabilities. The investment will support RNA T&T's growth—expanding its algorithmic RNA-sequence optimization platform and small-batch GMP production—while both companies continue to operate independently and offer streamlined capabilities to partners.

Merck & Co., through subsidiary Merck Sharp & Dohme LLC, completed a cash tender offer to acquire Cidara Therapeutics, Inc. for $221.50 per share, making Cidara a wholly owned subsidiary. The acquisition adds Cidara's long-acting antiviral candidate CD388 to Merck's respiratory portfolio and is being accounted for as an asset acquisition.

Amgen has acquired Dark Blue Therapeutics, an Oxford-based biotechnology company focused on targeted protein degraders for oncology, in a deal valued at up to $840 million including upfront and milestone payments. The acquisition adds Dark Blue's preclinical MLLT1/3 degrader program (DBT-3757) to Amgen's early oncology discovery efforts and will be integrated into Amgen's existing R&D organization.

Day One Biopharmaceuticals (Nasdaq: DAWN) completed its acquisition of Mersana Therapeutics (Nasdaq: MRSN) via a tender offer, purchasing all outstanding shares for $25 per share in cash plus one non-tradable contingent value right (CVR) per share for up to $30.25 in milestone payments (total consideration up to $55.25 per share). The deal adds Mersana’s clinical-stage ADC emiltatug ledadotin (Emi-Le) targeting adenoid cystic carcinoma (ACC) to Day One’s pipeline; Mersana will become a wholly owned subsidiary and its shares will be delisted from Nasdaq.