Tracked deals
646
646 tracked deals across 2006-2026.
Top Biotechnology Acquirers (2006-2026)
Buyer mix
Strategic-led
557 strategic · 202 pe
Top trend
Volume peaked in 2022
114 tracked deals announced in 2022.
Primary Insight
What Stands Out
- Major buyers shown include Johnson & Johnson, Eli Lilly and Company, UCB, Bayer, Chiesi Group, and recurring investors such as Blackstone Life Sciences.
- Oncology and specialty therapeutic programs are prominent, including KRAS-driven tumors via Firefly Bio’s Firelink degrader antibody conjugate platform.
- Platform and modality buildouts recur: non-viral DNA delivery (Engage’s Tethosome), inhaled therapies (Quince’s LAM-001), and T-cell engager approaches (Candid Therapeutics).
- Deal structures commonly combine upfront cash with development, regulatory, and commercial milestones; stock-for-stock mergers also appear.
- Recent geographic concentration includes California, Massachusetts, and Michigan (plus Israel).
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Ampersand Capital Partners | 23 | Middle-market private equity firm focused on growth-orien... | PE |
| Eli Lilly and Company | 20 | Global pharmaceutical company that discovers, develops an... | Strategic |
| ARCHIMED | 7 | Healthcare-focused private equity firm investing in Europ... | PE |
| AbbVie | 6 | Global biopharmaceutical company focused on discovery, de... | Strategic |
| Charles River Laboratories International, Inc. | 6 | Global provider of preclinical and clinical support, labo... | Strategic |
| AstraZeneca | 5 | Global, science-led biopharmaceutical company focused on ... | Strategic |
| Calibre Scientific | 5 | Diversified global provider of life‑science reagents, too... | Strategic |
| GHO Capital Partners LLP | 5 | London-based specialist private equity investor focused o... | PE |
| Gilead Sciences, Inc. | 5 | Research-based biopharmaceutical company that discovers, ... | Strategic |
| Merck | 5 | Global, research-intensive biopharmaceutical company deve... | Strategic |
Acquisition Volume in Biotechnology by Year
Last 10 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
- Buyer
- JATT II Acquisition, Access Biotechnology, Bain Capital Life Sciences, Deep Track Capital, RA Capital Management, Janus Henderson Investors, Vianti Capital, Farallon Capital Management
- Target
- Talawar Therapeutics
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
Talawar Therapeutics entered into a definitive business combination agreement with JATT II Acquisition to create a publicly listed biotechnology company operating as Talawar Therapeutics. The transaction includes an oversubscribed $225 million PIPE and is expected to close in the second half of 2026, subject to customary approvals and conditions.
-
June 29, 2026
- Buyer
- Zymeworks Inc.
- Target
- Theravance Biopharma, Inc.
- Industry
- Biotechnology
- Location
- Ireland
- Type
- Buyout
Zymeworks Inc. has entered into a definitive agreement to acquire Theravance Biopharma, Inc. for $17.00 per share in cash, representing an equity value of approximately $929 million. Theravance Biopharma shareholders will also receive a contingent value right (CVR) entitling them to 80% of net proceeds from future monetization of ampreloxetine over the next ten years.
-
- Buyer
- Serapha Bio, Boundless Bio
- Target
- Serapha Bio, Boundless Bio
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
Boundless Bio and Serapha Bio entered into a definitive agreement to merge in an all-stock transaction. Serapha will combine with Boundless Bio, with the combined company expected to operate as Serapha Bio and trade on Nasdaq under ticker AATD, following a pre-closing $230 million private investment led by RA Capital Management and RTW Investments.
-
June 22, 2026
- Buyer
- AbbVie Inc.
- Target
- Apogee Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
AbbVie entered into a definitive agreement to acquire Apogee Therapeutics, acquiring all outstanding shares for $135.11 per share in cash, valuing Apogee at approximately $10.9 billion. The deal is expected to close in the third quarter of 2026, subject to customary approvals including Apogee shareholder approval and regulatory clearances.
-
June 18, 2026
- Buyer
- Biogen
- Target
- RayThera
- Seller
- RayThera shareholders
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
Biogen has entered into a definitive agreement to acquire RayThera, a private biotechnology company focused on discovering and developing small-molecule therapies in immunology. The deal is valued at up to $1 billion, including an upfront payment and additional milestone payments tied to clinical and regulatory progress, and is expected to close in the third quarter of 2026.
-
- Buyer
- 10x Genomics, Inc.
- Target
- Proteintech Genomics (a division within Proteintech Group)
- Seller
- Proteintech Group
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
10x Genomics announced it has acquired Proteintech Genomics, a division within Proteintech Group, to expand its proteomics capabilities for single-cell and spatial multiomics workflows on 10x platforms. The deal adds Proteintech Genomics’ Human Discovery Panel technology and supports 10x’s strategy of integrating transcriptomic and proteomic measurements, including capabilities planned for its Atera platform. Financial terms were not disclosed.
-
- Buyer
- Johnson & Johnson
- Target
- Firefly Bio, Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Johnson & Johnson entered into a definitive agreement to acquire Firefly Bio, Inc. for $1 billion in cash. The deal is intended to expand Johnson & Johnson’s oncology pipeline using Firefly Bio’s proprietary Firelink degrader antibody conjugate platform, including preclinical candidates for KRAS-driven and other hard-to-treat solid tumors.
-
- Buyer
- Incyte
- Target
- Vega Therapeutics
- Seller
- Star Therapeutics, LLC
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Incyte has entered into a definitive agreement to acquire Vega Therapeutics, a wholly owned subsidiary of Star Therapeutics, for $1.25 billion upfront, with up to $750 million in additional milestone payments for total potential consideration of up to $2.0 billion. The deal is intended to add Vega’s Phase 3 monoclonal antibody candidate VGA039 for von Willebrand disease to Incyte’s hematology portfolio.
-
- Buyer
- Eli Lilly and Company
- Target
- Vaccine Company, Inc.
- Industry
- Biotechnology
- Location
- Maryland, United States
- Type
- Buyout
Vaccine Company, Inc. announced it has entered into a definitive agreement to be acquired by Eli Lilly and Company in a deal valued at up to $1.55 billion, including upfront and milestone-based payments. The acquisition is intended to accelerate development of Vaccine Company’s next-generation in vivo nanoparticle (IVN) vaccine platform, led by a Phase 1-ready Epstein-Barr virus (EBV) vaccine candidate targeting infectious mononucleosis and longer-term EBV-linked diseases.
-
May 23, 2026
- Buyer
- Eli Lilly and Company
- Target
- Engage Biologics Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Eli Lilly and Company has acquired Engage Biologics in a deal valued at up to $202 million in cash, including an upfront payment and milestone-based payments. The acquisition is intended to strengthen Lilly’s genetic medicines capabilities by integrating Engage’s non-viral DNA delivery Tethosome platform with Lilly’s broader development portfolio.
-
- Buyer
- InMed Pharmaceuticals, Inc., Fairmount, Commodore Capital, Deep Track Capital, Janus Henderson Investors, a16z Bio + Health, Venrock Healthcare Capital Partners, Wellington Management, TCGX, Blackstone Multi-Asset Investing, BB Biotech, Farallon Capital, RTW Investments, Vivo Capital, Perceptive Advisors, Sirenia Capital Management LP, Oruka Therapeutics (Oruka Therapeutics executive board involvement)
- Target
- Mentari Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
InMed Pharmaceuticals (NASDAQ: INM) entered into a definitive all-stock merger agreement with privately held Mentari Therapeutics, creating a publicly traded migraine-focused biotech under the Mentari name. The transaction is supported by an oversubscribed $290 million private placement led by Fairmount to fund operations through 2028.
-
May 19, 2026
- Buyer
- Quince Therapeutics, Inc.
- Target
- Orphai Therapeutics Inc.
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
Quince Therapeutics, Inc. announced it has acquired Orphai Therapeutics Inc. in a stock-for-stock merger, bringing Orphai’s inhaled rapamycin (LAM-001) pulmonary pipeline into Quince. Concurrently, Quince entered into a definitive agreement for a private placement financing raising up to $187 million gross proceeds (including $115 million upfront), expected to fund clinical development milestones through 2028.
-
May 13, 2026
- Buyer
- Zydus Worldwide DMCC, Zydus Lifesciences Limited, Zara Merger Sub Inc.
- Target
- Assertio Holdings, Inc.
- Industry
- Biotechnology
- Location
- Illinois, United States
- Type
- Buyout
Zydus Worldwide DMCC, a subsidiary of Zydus Lifesciences Limited, has entered into a definitive agreement to acquire all outstanding shares of Assertio Holdings, Inc. for $23.50 per share in cash, valuing the deal at approximately $166.4 million. The transaction is structured as a tender offer followed by a second-step merger at the same price and is expected to close in the second quarter of 2026 (2026–27 financial year in some reports), subject to customary conditions.
-
May 7, 2026
- Buyer
- Bayer
- Target
- Perfuse Therapeutics
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
Bayer announced an agreement to acquire Perfuse Therapeutics for up to $2.45 billion, including a $300 million upfront payment plus development, regulatory, and commercial milestone payments. The deal is intended to strengthen Bayer’s ophthalmology pipeline by adding PER-001, an investigational therapy in Phase II for glaucoma and diabetic retinopathy.
-
- Buyer
- Blackstone Life Sciences
- Target
- Anagram Therapeutics
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Growth capital
Blackstone Life Sciences (BXLS) announced a $250 million investment in clinical-stage biotech Anagram Therapeutics to advance and commercialize its oral recombinant enzyme replacement therapy, ANG003, for exocrine pancreatic insufficiency (EPI) related to cystic fibrosis and other disorders. The funding is intended to support development through regulatory approval and market launch, including planned mid-stage clinical trials.
-
- Buyer
- UCB
- Target
- Candid Therapeutics
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
UCB, a global biopharmaceutical company, has signed a definitive agreement to acquire Candid Therapeutics for up to $2.2 billion. The deal includes $2.0 billion in upfront payments and up to $200 million in potential milestone payments, and is expected to close by the end of Q2 or early Q3 2026, subject to antitrust clearance and customary conditions.
-
May 3, 2026
- Buyer
- UCB
- Target
- Candid Therapeutics
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
UCB has agreed to acquire Candid Therapeutics, a clinical-stage biotechnology company focused on T-cell engagers for autoimmune and inflammatory diseases, for up to $2.2 billion including $2.0 billion upfront. Two River and Vida Ventures, part of the Bellco Health ecosystem, highlighted their roles in founding and early development of Candid following the announced acquisition.
-
May 1, 2026
- Buyer
- ARCHIMED
- Target
- Esperion Therapeutics
- Industry
- Biotechnology
- Location
- Michigan, United States
- Type
- Buyout
Esperion Therapeutics entered into a definitive agreement to be acquired by an affiliate of ARCHIMED in a transaction valued at up to approximately $1.1 billion. Esperion shareholders will receive $3.16 per share in cash at closing, plus a contingent value right (CVR) for up to $100 million in milestone payments tied to future U.S. net sales performance; closing is expected in Q3 2026 subject to approvals.
-
April 30, 2026
- Buyer
- XTL Biopharmaceuticals
- Target
- Psyga Bio
- Industry
- Biotechnology
- Location
- Israel
- Type
- Buyout
XTL Biopharmaceuticals has entered into a definitive share purchase agreement to acquire 100% of Psyga Bio. The deal is structured as a share exchange with no cash consideration at closing, with XTL issuing ADSs representing 40% of Psyga Bio’s issued and outstanding share capital plus milestone-based ADSs up to an additional 10%.
-
April 29, 2026
- Buyer
- Chiesi Farmaceutici S.p.A., Chiesi Group
- Target
- KalVista Pharmaceuticals, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Chiesi Group entered into a definitive agreement to acquire KalVista Pharmaceuticals for about $1.9 billion total equity value ($27.00 per share in cash). The all-cash tender offer was completed on June 11, 2026, followed by a merger that made KalVista a wholly owned subsidiary of Chiesi.
-
April 28, 2026
- Buyer
- Eli Lilly
- Target
- Profluent
- Industry
- Biotechnology
- Type
- Growth capital
Air Street Capital portfolio company Profluent announced a multi-program strategic partnership with Eli Lilly to develop AI-designed recombinases for genetic medicine. Profluent will receive an upfront payment, committed R&D funding, and is eligible for up to $2.25 billion in development and commercial milestones, plus tiered royalties on net sales.
-
April 27, 2026
- Buyer
- Ligand Pharmaceuticals Incorporated
- Target
- XOMA Royalty Corporation
- Seller
- BVF Partners (entities affiliated; via its XOMA holdings)
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Ligand Pharmaceuticals Incorporated has entered into a definitive agreement to acquire XOMA Royalty Corporation for $39.00 per share in cash, valuing the equity at approximately $739 million. The deal includes a Contingent Value Right (CVR) for XOMA Royalty stockholders tied to a portion of net proceeds from certain pending litigation.
-
- Buyer
- Telomir Pharmaceuticals, Inc.
- Target
- TELI Pharmaceuticals, Inc.
- Seller
- Certain former TELI shareholders (received milestone-based contributions and Telomir stock)
- Industry
- Biotechnology
- Location
- Florida, United States
- Type
- Buyout
Telomir Pharmaceuticals completed its previously announced stock-for-stock acquisition of TELI Pharmaceuticals. The deal makes Telomir the sole holder of global rights to Telomir-1 (Telomir-Zn), consolidating worldwide development and commercialization under one structure.
-
April 20, 2026
- Buyer
- Eli Lilly and Company, Eli Lilly
- Target
- Kelonia Therapeutics
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Eli Lilly has announced a definitive agreement to acquire Kelonia Therapeutics, a clinical-stage biotechnology company developing in vivo CAR-T cell therapy via its proprietary gene delivery platform. The deal is valued at up to $7 billion, including a $3.25 billion upfront payment, with additional clinical, regulatory, and commercial milestone payments. Closing is expected in the second half of 2026, subject to customary approvals.
-
- Buyer
- Frazier Life Sciences, Novartis Venture Fund, OrbiMed, Life Sciences at Goldman Sachs Alternatives, DCVC Bio, Samsara BioCapital, Longwood Fund, Astellas Venture Management, Alexandria Venture Investments
- Target
- Sidewinder Therapeutics
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Growth capital
Sidewinder Therapeutics, a biopharmaceutical company developing next-generation bispecific ADCs for cancer, announced the closing of an oversubscribed $137 million Series B financing. The round was co-led by Frazier Life Sciences and Novartis Venture Fund with participation from OrbiMed and new investors including Goldman Sachs Alternatives (Life Sciences), DCVC Bio, Samsara BioCapital, Longwood Fund, Astellas Venture Management, and others.
-
April 14, 2026
- Buyer
- Eli Lilly and Company
- Target
- CrossBridge Bio
- Industry
- Biotechnology
- Location
- Texas, United States
- Type
- Buyout
Eli Lilly and Company has entered into a definitive agreement to acquire CrossBridge Bio, a Houston-based pre-clinical biotechnology company developing next-generation dual-payload antibody-drug conjugates (ADCs). The deal provides for up to $300 million in total consideration, including upfront and milestone-based payments, to advance CrossBridge Bio’s TROP2-targeting TOP1i/ATRi ADC platform led by CBB-120.
-
- Buyer
- Gilead Sciences
- Target
- Tubulis
- Seller
- EQT Life Sciences (LSP 7 fund)
- Industry
- Biotechnology
- Location
- Germany
- Type
- Buyout
Gilead Sciences entered into a definitive agreement to acquire Tubulis, a Munich-based clinical-stage biotechnology company developing next-generation antibody-drug conjugates (ADCs), for $3.15 billion upfront in cash plus up to $1.85 billion in contingent milestone payments. Following completion, Tubulis will operate as a dedicated ADC research organization within Gilead, with the Munich site serving as a hub for ADC innovation.
-
- Buyer
- Anthropic
- Target
- Coefficient Bio
- Seller
- Dimension
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
Anthropic acquired stealth-stage biotech AI startup Coefficient Bio in an all-stock transaction valued at just over $400 million. The Coefficient Bio team (fewer than 10 employees) will be integrated into Anthropic’s healthcare and life sciences division to enhance Claude for Life Sciences for drug discovery and regulatory workflows.
-
- Buyer
- Korsana Biosciences, Inc.
- Target
- Cyclerion Therapeutics, Inc., Korsana Biosciences, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Cyclerion Therapeutics and Korsana Biosciences have entered into a definitive, all-stock merger agreement in which the combined company will operate as Korsana Biosciences, Inc. and trade on Nasdaq under ticker KRSA. An oversubscribed private financing expected to generate gross proceeds of approximately $380 million is expected to close immediately prior to the merger, with the combined company funded through key clinical milestones into 2029.
-
March 31, 2026
- Buyer
- Eli Lilly and Company
- Target
- Centessa Pharmaceuticals plc
- Seller
- a group of shareholders
- Industry
- Biotechnology
- Location
- United Kingdom
- Type
- Buyout
Eli Lilly and Company entered into a definitive agreement to acquire Centessa Pharmaceuticals plc for $38.00 per share in cash plus a non-transferrable contingent value right (CVR), valuing the upfront equity at about $6.3 billion and total potential consideration up to $7.8 billion. The transaction is to be implemented via a scheme of arrangement under the laws of England and Wales and was expected to close in the third quarter of 2026, subject to shareholder, court, and regulatory approvals.
-
- Buyer
- Aurinia Pharmaceuticals Inc., Aurinia Pharma U.S., Inc., Aurinia Merger Sub, Inc.
- Target
- Kezar Life Sciences, Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Aurinia Pharmaceuticals has entered into a definitive merger agreement to acquire Kezar Life Sciences in a cash tender offer followed by a merger. Kezar shareholders will receive $6.955 per share in cash plus a non-transferable contingent value right (CVR) tied to potential future milestones and proceeds from Kezar’s legacy assets/collaborations.
-
March 27, 2026
- Buyer
- Novartis
- Target
- Excellergy
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Novartis entered into an agreement to acquire Excellergy, a private biotechnology company developing next-generation anti-IgE therapies, in a deal valued at up to $2 billion including upfront and milestone payments. The acquisition will bring Excellergy’s lead asset, Exl-111 (a potentially first-in-class trifunctional effector cell response inhibitor), into Novartis’ allergy and immunology pipeline.
-
March 27, 2026
- Buyer
- Otsuka Pharmaceutical Co., Ltd., Otsuka America, Inc.
- Target
- Transcend Therapeutics, Inc., Transcend Therapeutics
- Seller
- Transcend shareholders
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
Otsuka Pharmaceutical Co., Ltd. agreed to acquire clinical-stage biotech Transcend Therapeutics for total consideration of up to $1.225 billion, consisting of $700 million upfront and as much as $525 million in contingent payments tied to future sales milestones. The deal was expected to close in Q2 2026, and was later confirmed as completed, with Transcend operating as a wholly owned subsidiary of Otsuka America.
-
March 26, 2026
- Buyer
- Lunai Bioworks, Inc. (NASDAQ: LNAI)
- Target
- Clemann Group, SAS (or its assignee) — BBB delivery technology and CNS Alzheimer’s drug assets
- Seller
- Clemann Group, SAS
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Lunai Bioworks executed a binding $20 million strategic transaction to acquire blood-brain barrier (BBB) delivery technology and CNS Alzheimer’s drug assets from the Clemann Group, SAS (or its assignee). The deal is structured as Series B Convertible Preferred with a fixed $1.50 conversion price and is intended to strengthen Lunai’s CNS Alzheimer's pipeline while enabling development across other CNS disorders.
-
March 26, 2026
- Buyer
- Pulmatrix, Inc., RCM Eos PIPE HOLDINGS LLC, Rapha Capital Management, LLC
- Target
- Eos SENOLYTIX, Inc.
- Industry
- Biotechnology
- Location
- Texas, United States
- Type
- Buyout
Pulmatrix, Inc. has entered into a definitive merger agreement to acquire Eos SENOLYTIX, Inc. Upon closing, the combined company will operate as Eos SENOLYTIX, Inc. and is expected to trade on Nasdaq under the ticker EOSX.
-
March 24, 2026
- Buyer
- Apimeds Pharmaceuticals US, Inc.
- Target
- MindWave Innovations Inc.
- Seller
- Inscobee Inc., Apimeds Inc.
- Industry
- Biotechnology
- Location
- New Jersey, United States
- Type
- Buyout
Apimeds Pharmaceuticals US, Inc. announced a settlement with Inscobee Inc. and Apimeds Inc. that resolves disputes tied to the previously announced merger with MindWave Innovations Inc. The settlement clears the way to complete the merger transactions and effect the company’s $100 million PIPE financing to support ongoing biotech initiatives, including Lōkahi Therapeutics’ Apitox program.
-
- Buyer
- Synsus Private Label Partners, LLC, Crescentia Capital
- Target
- Emerald Bioagriculture
- Industry
- Biotechnology
- Location
- Montana, United States
- Type
- Buyout
Synsus Private Label Partners, LLC (Synsus) announced it has acquired Emerald Bioagriculture (Emerald), a biostimulant technologies innovator. The deal is intended to expand Synsus’ technology portfolio and accelerate development and integration of eco-friendly, bio-based inputs for growers, turf managers, and homeowners.
-
March 7, 2026
- Buyer
- MGI Tech
- Target
- STOmics, CycloneSEQ
- Industry
- Biotechnology
- Location
- China
- Type
- Buyout
MGI Tech announced the acquisition of STOmics and CycloneSEQ to integrate long-read sequencing, short-read sequencing, and spatial omics technologies into a unified platform. The deal brings STOmics’ Stereo-seq spatial multi-omics tech and CycloneSEQ’s nanopore-based long-read sequencing systems in-house, supporting MGI’s “SEQALL+GLI+Omics” strategy and a more comprehensive end-to-end offering for researchers.
-
March 5, 2026
- Buyer
- Solabia, Astorg, TA Associates
- Target
- Mibelle Biochemistry, Seqens' Botanical Actives and In-Vitro Diagnostics Activity, Xebios Group
- Industry
- Biotechnology
- Location
- France
- Type
- Addon
Solabia, a Paris-headquartered biotech platform focused on natural active ingredients and diagnostics solutions, has agreed to acquire three complementary businesses as part of its international expansion strategy. The acquisitions include Switzerland-based Mibelle Biochemistry, France-based Seqens' Botanical Actives and In-Vitro Diagnostics activity, and Germany/Netherlands-based Xebios Group.
-
March 5, 2026
- Buyer
- Rallybio Corporation
- Target
- Candid Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Rallybio Corporation entered into a definitive agreement to acquire clinical-stage biotechnology company Candid Therapeutics in a merger transaction. The combined company will operate as Candid Therapeutics, Inc. and is expected to trade on Nasdaq under the ticker symbol CDRX, with the deal targeted to close in mid-2026 subject to customary conditions and approvals. Concurrently, Candid arranged an oversubscribed private financing of more than $505 million from a syndicate of healthcare institutional investors and mutual funds, expected to fund operations through 2030.
-
March 5, 2026
- Buyer
- Esperion Therapeutics
- Target
- Corstasis Therapeutics
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
Esperion Therapeutics announced it has entered into a definitive agreement to acquire Corstasis Therapeutics for an upfront cash payment of $75 million, with potential milestone payments of up to $180 million. The deal is expected to add Enbumyst (bumetanide nasal spray) to Esperion’s cardiovascular portfolio, leveraging its commercial infrastructure to expand its cardiovascular franchise.
-
February 23, 2026
- Buyer
- Axol Bioscience
- Target
- Newcells Biotech (ophthalmology business)
- Seller
- Newcells Biotech
- Industry
- Biotechnology
- Location
- Tyne and Wear, United Kingdom
- Type
- Divestiture
Axol Bioscience has acquired the ophthalmology business of Newcells Biotech, including its specialist team, facilities, and intellectual property for iPSC-derived retinal organoid and retinal pigment epithelium models. The deal expands Axol's ophthalmology capabilities and product portfolio to support biopharma, biotech and CRO customers across Europe and the United States, strengthening its position in ophthalmology drug discovery and safety testing.
-
February 18, 2026
- Buyer
- Sensei Biotherapeutics, Inc.
- Target
- Faeth Therapeutics Inc.
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
Sensei Biotherapeutics, Inc. (Nasdaq: SNSE) announced the acquisition of clinical-stage biotech Faeth Therapeutics, bringing Faeth’s lead asset PIKTOR (serabelisib + sapanisertib) into Sensei’s pipeline. Concurrently, Sensei entered into a definitive agreement for a private placement of Series B non-voting convertible preferred stock expected to raise approximately $200 million in gross proceeds, with plans to fund advancement of PIKTOR through key Phase 2 endometrial and Phase 1b breast cancer milestones.
-
February 9, 2026
- Buyer
- Eli Lilly and Company
- Target
- Orna Therapeutics
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Eli Lilly and Company has signed a definitive agreement to acquire Orna Therapeutics, valuing the deal at up to $2.4 billion. The acquisition is intended to expand Lilly’s genetic medicine and in vivo cell engineering capabilities, particularly for advancing in vivo CAR-T therapies using Orna’s circular RNA and lipid nanoparticle (LNP) platform.
-
- Buyer
- XOMA Royalty Corporation
- Target
- Generation Bio Co. (Generation Bio)
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
XOMA Royalty Corporation completed its previously announced tender offer to acquire all outstanding shares of Generation Bio common stock for $4.2913 per share in cash, plus one non-tradeable contingent value right (CVR). Following the tender offer, a subsidiary (XRA 7 Corp.) merged with and into Generation Bio, making Generation Bio a wholly owned subsidiary of XOMA Royalty.
-
February 4, 2026
- Buyer
- DT Cloud Star Acquisition Corporation
- Target
- PrimeGen US, Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
PrimeGen US, Inc. entered into a definitive business combination agreement with DT Cloud Star Acquisition Corporation (a publicly traded SPAC), implying an equity value of approximately $1.5 billion. The transaction is expected to provide access to public markets capital to advance PrimeGen US’s stem cell and exosome therapies, with an anticipated closing in the second half of 2026 subject to approvals and customary closing conditions.
-
February 3, 2026
- Buyer
- Cycle Group Holdings Limited, AT2B, Inc.
- Target
- Applied Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- United States
- Type
- Buyout
Cycle Group Holdings Limited, through AT2B, Inc., completed the acquisition of NASDAQ-listed Applied Therapeutics, Inc. Applied is a clinical-stage biopharmaceutical company developing govorestat, an aldose reductase inhibitor for CNS rare metabolic diseases.
-
January 29, 2026
- Buyer
- Demeetra AgBio
- Target
- Hera BioLabs
- Industry
- Biotechnology
- Location
- Kentucky, United States
- Type
- Buyout
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.
-
January 29, 2026
- Buyer
- Eclipse Bioinnovations (Eclipsebio)
- Target
- Terrain Bio
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
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.
-
January 28, 2026
- Buyer
- XenoTherapeutics, Inc., Xeno Acquisition Corp.
- Target
- Repare Therapeutics Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
XenoTherapeutics, Inc. and Xeno Acquisition Corp. acquired all outstanding shares of Repare Therapeutics Inc. via a statutory plan of arrangement. The deal was approved by Repare shareholders in January 2026 and the acquisition was completed with a per-share cash payment of approximately US$2.20 plus contingent value rights.
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Frequently Asked Questions
Which biotechnology acquirers appear most frequently on this page?
Recurring names include Pfizer Inc., Avista Capital Partners, Ampersand Capital Partners, Lonza AG, GHO Capital Partners LLP, Twist Bioscience Corporation, Kite, and Gilead Sciences, Inc.
What kinds of therapeutic areas are represented in recent biotechnology acquisitions?
Recent deals reference oncology pipeline expansion, infectious disease vaccines, genetic medicines delivery, pulmonary programs, ophthalmology therapies, autoimmune/inflammatory T-cell engager approaches, and migraine prevention.
What deal structures show up in these biotechnology transactions?
Agreements often use a mix of upfront cash and milestone-based payments, and some transactions are stock-for-stock mergers. In at least one case, the acquisition is structured as a share exchange with no cash consideration at closing.
Where are the most recent biotechnology acquisition locations?
Recent locations shown include California, Massachusetts, and Michigan in the United States, as well as Israel.
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