Biotechnology Acquisitions in 2022

Vistagen (Nasdaq: VTGN) will acquire Pherin Pharmaceuticals in an all-stock transaction (approximately 12.4 million shares plus nominal cash), giving Vistagen full ownership of Pherin's pherine drug pipeline and intellectual property. The deal eliminates future royalty and milestone obligations related to PH94B and PH10 and adds three early-stage pherine candidates to Vistagen's development portfolio.

Kite, a Gilead company, will make a $225 million upfront cash payment plus a $100 million equity investment in Arcellx to co-develop and co-commercialise Arcellx's lead CAR-T candidate, CART-ddBCMA, for relapsed or refractory multiple myeloma. The companies will share development and U.S. commercial economics (50/50 U.S. profits for co-commercialised products), with Kite responsible for manufacturing after technical transfer; ex-U.S. commercialization will be led by Kite with royalties to Arcellx.

Arsenal Capital Partners closed a previously announced $449 million stock purchase in Certara, acquiring shares from funds controlled by EQT Private Equity and becoming a long-term minority investor. As part of the transaction Arsenal appointed Operating Partner David Spaight to Certara's board while Stephen McLean remains a director; Arsenal agreed to a two-year lock-up on the newly purchased shares.

Molecular Devices, a life-science instrumentation company, has acquired Cellesce Ltd, a Cardiff-based developer and manufacturer of patient-derived organoids (PDOs) for large-scale drug screening. The deal expands Molecular Devices' 3D biology capabilities and combines Cellesce's industrial-scale PDO production with Molecular Devices' automated organoid screening platforms to accelerate adoption of physiologically relevant cell models in drug discovery.

AstraZeneca has agreed to acquire Neogene Therapeutics, a clinical-stage biotechnology company focused on next-generation T-cell receptor (TCR) therapies, for up to $320 million. The acquisition strengthens AstraZeneca's oncology cell therapy capabilities by adding Neogene's discovery, development and manufacturing expertise for TCR-Ts targeting solid tumours.

Full‑Life Technologies, a global radiotherapeutics company, agreed to acquire New Jersey‑based Focus‑X Therapeutics to expand its peptide‑focused radiopharmaceutical pipeline. Focus‑X shareholders are eligible for an upfront payment plus up to $245 million in development, regulatory and sales milestones and royalties; the deal was expected to close in Q1 2023.

Bionano Genomics agreed to acquire Purigen Biosystems to integrate Purigen's isotachophoresis (ITP) Ionic Purification System into Bionano's optical genome mapping (OGM) workflow, aiming to simplify ultra-high molecular weight (UHMW) DNA isolation and address difficult sample types. The deal consideration is up to $64 million (including $32 million cash at closing and milestone-contingent payments) and was expected to close by December 8, 2022.

Biocare Medical, a GHO Capital-backed provider of automated IHC and FISH instrumentation and reagents, has acquired Empire Genomics, a designer and manufacturer of FISH/CISH probes and molecular biomarkers. The deal expands Biocare's molecular portfolio (bringing over one million biomarkers) and adds rapid biomarker development capabilities to accelerate cancer research and diagnostics.

Alexion, AstraZeneca Rare Disease, has completed its acquisition of LogicBio Therapeutics, Inc. through a tender offer and merger, making LogicBio a wholly owned subsidiary. The deal is intended to accelerate Alexion's growth in genomic medicines by adding LogicBio's genomic medicine technology and rare disease R&D expertise; LogicBio's CEO Frederic Chereau will join Alexion as SVP, Strategy and Business Development.

Kriya Therapeutics has acquired Redpin Therapeutics, a preclinical New York City–based gene therapy company with a proprietary chemogenetics platform. The deal establishes Kriya's neurology therapeutic-area portfolio by adding Redpin’s lead programs targeting epilepsy and trigeminal neuralgia, and brings chemogenetic capability to Kriya’s gene therapy engine.

Angus Chemical Company (a PE-backed specialty ingredients manufacturer) has acquired Expression Systems, LLC, a Davis, California-based maker of cell culture media, baculovirus reagents, cell lines and related contract services. The acquisition expands Angus' life‑sciences capabilities into specialty cell culture media and strengthens its bioprocessing product and service offering; Achelous Partners served as exclusive advisor to Expression Systems.

Leica Biosystems has acquired Cell IDx, a San Diego-based leader in multiplexed tissue profiling, integrating Cell IDx's UltraPlex multiplex IHC technology with Leica's BOND RX automation to expand translational research and multiplexing capabilities. The deal advances Leica's research-focused staining and imaging portfolio and brings scale-up and medical/scientific affairs support for Cell IDx customers.

Fulgent Genetics completed the acquisition of Fulgent Pharma Holdings for approximately $100 million in a combination of cash and Fulgent common stock. The deal integrates Fulgent Pharma’s nanoencapsulation drug-delivery platform and clinical-stage oncology pipeline with Fulgent Genetics’ diagnostics capabilities to create a vertically integrated precision-medicine offering focused on cancer.

Ignyte Acquisition Corp. completed a business combination with Peak Bio Co., Ltd., resulting in the combined company operating as Peak Bio, Inc. and commencing trading on NASDAQ under the ticker symbols PKBO (common stock) and PKBOW (warrants). The transaction positions Peak Bio to access public markets and raise capital to advance its oncology and inflammatory disease therapeutics, with Hoyoung Huh as Chairman and Stephen LaMond as COO.

Avista Capital Partners has acquired Taconic Biosciences from H.I.G. Capital. Taconic, a Rensselaer, New York–based provider of genetically engineered murine research models and related preclinical services, will leverage Avista's healthcare investing expertise to pursue organic growth and strategic acquisitions in the GEMs market.

Montreal-based contract research organization NuChem Sciences has acquired IniXium of Laval, Québec, with investment support from the Fonds de solidarité FTQ. The deal expands NuChem's structural biology and recombinant protein production capabilities—integrating IniXium's crystallography and fragment screening expertise into NuChem's drug-discovery services.

Cardio Diagnostics Holdings, Inc., a precision cardiovascular diagnostics company using epigenetics and AI, completed a business combination with special purpose acquisition company Mana Capital Acquisition Corp. The combined company began trading on the Nasdaq under the ticker symbols CDIO and CDIOW, providing Cardio with public-market access and capital to commercialize its epigenetics-based cardiovascular tests.

Ligand Pharmaceuticals will spin off its OmniAb antibody discovery business to shareholders and OmniAb will merge with Avista Public Acquisition Corp. II (APAC), making OmniAb a standalone, publicly-traded company. Avista Capital Partners has committed up to $115 million of investment and Ligand will contribute $15 million, providing the combined company with significant cash reserves to support growth and continued platform development.

Beckley Psytech Limited has acquired 100% of Eleusis Therapeutics Limited in an all-equity transaction, adding Eleusis' clinical-stage assets (including ELE-101) and its R&D team to Beckley's pipeline. Eleusis CEO Shlomi Raz will join Beckley as Chief Business Officer as the companies integrate to accelerate development of short-duration psychedelic therapies.

Syncona Limited will acquire Applied Genetic Technologies Corporation (AGTC) via a tender offer, paying $0.34 per share in cash upfront (approximately $23.5 million) with contingent value rights (CVRs) that could provide up to an additional $0.73 per share (up to $50.0 million) for total potential consideration of up to $1.07 per share. The transaction, unanimously approved by AGTC’s board, will take AGTC private and is intended to advance AGTC's retinal gene therapy programs amid funding challenges for the public company.

Eli Lilly agreed to acquire Akouos for approximately $487 million in cash plus contingent value rights that could increase the deal value to about $610 million. The acquisition gives Lilly Akouos's pipeline of AAV-based inner-ear gene therapies (including lead candidate AK-OTOF) to accelerate development of treatments for sensorineural hearing loss.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) acquired AlloMek Therapeutics, LLC, obtaining the preclinical MEK 1/2 inhibitor CIP-137401 to expand its CNS-focused drug-development pipeline. The deal closed on October 11, 2022 and included $1.05 million in upfront cash, issuance of restricted stock and warrants, plus potential clinical/regulatory milestones and royalties.

Transatlantic healthcare private equity firm ARCHIMED (via its MED Platform II fund) has invested in PlasmidFactory, a Bielefeld, Germany-based contract manufacturer of plasmid and minicircle DNA used in gene and cell therapies. The founder and management will remain in place with a roll-over of a portion of proceeds; proceeds will fund rapid expansion including construction of a larger GMP-compliant production facility to meet growing demand.

Paris-based Eurobio Scientific has acquired all outstanding shares of Dutch transplant diagnostics specialist GenDx (Genome Diagnostics B.V.), following a share purchase agreement signed on August 17. The acquisition expands Eurobio's molecular diagnostics portfolio in transplantation and secures the company legacy with proceeds funding a GenDx foundation established by the founders.

Incyte has entered into an agreement to acquire Villaris Therapeutics, obtaining exclusive global rights to auremolimab (VM6), an anti-IL-15Rβ monoclonal antibody targeting vitiligo and other autoimmune diseases. Villaris shareholders will receive $70 million upfront and may receive up to $1.36 billion in development and commercial milestone payments; the acquisition expands Incyte's inflammation/autoimmunity and dermatology portfolio.

Great Point Partners, a Greenwich, CT-based healthcare-focused private investment firm, has made a growth investment in San Diego-based iXCells Biotechnologies. The capital will be used to expand iXCells' operational capacity, broaden its product and service offering (including bioanalytical capabilities) and support growth into adjacent high-growth end markets such as personalized medicine and rare disease research.

Idera Pharmaceuticals completed an all-stock acquisition of Aceragen, a privately held biotech focused on rare pulmonary and rheumatic diseases, adding Aceragen's lead programs ACG-701 and ACG-801 to Idera's pipeline. The transaction was structured as a stock-for-stock exchange, includes management appointments from Aceragen, and is expected to provide pro forma cash runway into Q3 2023 while advancing Aceragen's clinical milestones.

Oxford-based GENinCode plc has acquired Cambridge-based Abcodia Limited and its Risk of Ovarian Cancer Algorithm (ROCA) test on an earnout basis with a maximum consideration of £1 million. The acquisition marks GENinCode’s first entry into oncology as it plans to accelerate ROCA revenues in the UK and pursue market entry in the United States and European Union.

Gilead Sciences completed the acquisition of U.K.-based biotechnology company MiroBio for approximately $405 million in cash. The deal gives Gilead MiroBio's discovery platform and portfolio of immune inhibitory receptor agonists, including lead investigational antibody MB272, which is in Phase 1 clinical trials.

Rocket Pharmaceuticals (NASDAQ: RCKT) will acquire Renovacor (NYSE: RCOR) in an all-stock transaction valued at approximately $53 million (implied $2.60 per Renovacor share). The acquisition strengthens Rocket's leadership in AAV-based cardiac gene therapy by adding Renovacor's REN-001 BAG3-targeted program and related capabilities to Rocket's clinical pipeline.

FOXO Technologies Inc., a longevity-focused epigenetics and AI platform for the life insurance industry, completed a business combination with SPAC Delwinds Insurance Acquisition Corp., resulting in FOXO listing on the NYSE American under the ticker FOXO. The transaction positions FOXO to commercialize its molecular biomarkers and saliva-based underwriting protocols and to scale its FOXO Longevity Report and MGA distribution relationships.

Syros Pharmaceuticals completed a merger with TYME Technologies, acquiring TYME's pipeline assets and approximately $60 million of net cash at closing. The transaction was accompanied by an oversubscribed $130 million PIPE financing to provide capital for Syros' late-stage hematology programs and early commercialization activities.

Beckman Coulter Life Sciences, a Danaher company, has acquired Dublin-based ValitaCell Ltd., a developer of analytical products and technologies for the biopharmaceutical industry. The acquisition adds ValitaCell’s ValitaTiter and related cell-analytics products to Beckman Coulter’s portfolio to accelerate biologics development and manufacturing workflows.

BioIVT has acquired XenoTech, a Kansas City–based provider of ADME‑Tox in vitro models and contract research services, from Sekisui Chemical. The acquisition expands BioIVT's hepatic product portfolio and ADME/DMPK capabilities to better support biopharma customers' preclinical testing needs. Financial terms were not disclosed.

Arcutis Biotherapeutics (Nasdaq: ARQT) has entered into an agreement to acquire Ducentis BioTherapeutics Ltd., a privately held, preclinical biotechnology company developing the CD200R agonist DS-234 for atopic dermatitis. The deal includes approximately $16 million in cash and roughly $14 million in Arcutis stock up front, plus contingent development-and-commercial milestones, and is intended to accelerate Arcutis' biologics pipeline and strengthen its dermatology capabilities.

Roche has entered into a definitive merger agreement to acquire Good Therapeutics, a Seattle-based privately held biopharmaceutical company, for an upfront $250 million plus milestone payments. The deal gives Roche rights to Good Therapeutics' conditionally active PD-1-regulated IL-2 program and an exclusive right to the platform for developing PD-1-regulated IL-2 receptor agonists; the transaction is expected to close in Q3 2022 subject to HSR clearance.

Equillium, Inc. will acquire Metacrine Inc. in an all-stock merger intended to strengthen Equillium's cash position by adding an estimated $33 million at closing and extending its cash runway into 2024. The deal adds Metacrine's FXR platform, including lead candidate MET642, to Equillium's pipeline while Metacrine CEO Preston Klassen will join Equillium's board; closing is subject to shareholder approvals and customary conditions.

GBA Group has acquired French contract research organization KaLy-Cell SAS, marking the group's market entry into France and expanding its European pharmaceutical network. KaLy-Cell, founded in 2003 as a spin-off from the University of Bourgogne Franche-Comté and headquartered in Plobsheim, provides hepatocyte-based in vitro contract research and safety testing services for pharmaceuticals, agrochemicals and cosmetics.

Novo Nordisk agreed to acquire clinical-stage biopharmaceutical company Forma Therapeutics for $20 per share in cash, valuing the deal at approximately $1.1 billion. The purchase adds Forma's lead candidate etavopivat and strengthens Novo Nordisk's pipeline in sickle cell disease and other rare blood disorders; the transaction is being effected via a tender offer and is expected to close in Q4 2022, subject to customary conditions and regulatory approvals.

Novo Holdings led a $50 million minority investment in MedGenome alongside existing investors LeapFrog Investments and Sofina. The capital will support MedGenome’s expansion beyond South Asia into Africa and the Middle East and broaden access to its genomic testing, bioinformatics and research services.

Biotech investor Dr. Glenn Haifer and healthcare private equity firm Ampersand Capital Partners have acquired Australian CDMO Luina Bio and rebranded it as AcuraBio. The investors plan to inject capital to expand production capacity, broaden service offerings and build AcuraBio into a leading APAC biologics contract development and manufacturing organization.

Second Sight Medical Products completed its merger with Nano Precision Medical and changed its name to Vivani Medical, Inc., with the combined company trading on Nasdaq under the ticker VANI. The transaction brings approximately $55 million in cash to advance Nano Precision Medical's NanoPortal implant portfolio (including lead asset NPM-119) into clinical development and places Nano Precision CEO Dr. Adam Mendelsohn as CEO of the combined company.

GSK plc acquired clinical-stage biopharmaceutical company Affinivax, Inc., paying $2.1 billion upfront and up to $1.2 billion in potential development milestones to gain the MAPS vaccine platform and a 24‑valent pneumococcal vaccine candidate (AFX3772) in development. The acquisition (100% of outstanding shares) expands GSK's vaccines R&D capabilities and pipeline, with AFX3772 in phase II and preparations underway for phase III.

Ipsen has completed the acquisition of Epizyme, Inc., acquiring all outstanding shares for $1.45 per share plus a $1.00 contingent value right and bringing Epizyme's approved oncology drug Tazverik and preclinical/clinical pipeline into Ipsen. The deal adds epigenetics-focused assets including the approved EZH2 inhibitor tazemetostat and the SETD2 inhibitor candidate EZM0414 to Ipsen's oncology portfolio and integrates Epizyme employees into Ipsen's organization.

SFW Capital Partners completed a strategic growth investment in Sannova Analytical, a Somerset, New Jersey-based bioanalytical CRO that provides bioanalytical and CMC testing services to pharmaceutical and biotech companies. Founders and existing owners (including the Marepalli family, Dr. Venkat Reddy, Malleswar Kollu, and Geeta Vidiyala) are reinvesting and retaining an equity stake; SFW will support expansion of services, capacity, and pursue strategic acquisitions to accelerate growth.

Pfizer Inc. has agreed to acquire Global Blood Therapeutics, Inc. for $68.50 per share in cash, valuing the transaction at approximately $5.4 billion including debt. The acquisition brings GBT's sickle cell disease portfolio (including Oxbryta) and pipeline to Pfizer to expand its rare hematology capabilities and accelerate access to therapies for underserved SCD patient communities.

Amgen agreed to acquire ChemoCentryx for $52 per share in cash (approximately $3.7 billion enterprise value), gaining TAVNEOS (avacopan), a first-in-class oral therapy for ANCA-associated vasculitis. The deal, unanimously approved by both boards, is intended to strengthen Amgen's inflammation and nephrology portfolio and is expected to close following stockholder and regulatory approvals.

Keensight Capital has agreed to acquire a majority stake in Axxam, an Italian innovative partner research organization (iPRO) headquartered in Milan, investing alongside Axxam's management. The sellers include current shareholders such as Bayer SpA and Zambon Company SpA; Axxam employs around 180 people and reported roughly €30 million of sales in 2021. Keensight intends to support the management team to accelerate growth and further develop Axxam's discovery capabilities.

Ginkgo Bioworks (NYSE: DNA) will acquire Zymergen in an all‑stock transaction valuing Zymergen at about $300 million; Zymergen stockholders will receive 0.9179 Ginkgo shares per Zymergen share and will own ~5.25% of the combined company. The acquisition is intended to integrate Zymergen's automation, software, and data‑science capabilities and biological assets into Ginkgo's horizontal cell‑programming platform to expand capacity, capabilities, and efficiency across multiple end markets.

Arcaea, a biology-first beauty ingredients company, has acquired Gadusol Laboratories, an Oregon State University spinout developing natural UV-protective compounds via synthetic biology. The acquisition will accelerate commercialization of Gadusol's sustainably produced sunscreen ingredients and expand Arcaea's ingredient and formulation capabilities for next-generation suncare and skincare products.