Biotechnology Acquisitions in 2024

Altaris, a New York-based healthcare-focused investment firm, acquired the U.S. and U.K. operations of WuXi AppTec's Advanced Therapies unit (including OXGENE). Advanced Therapies will be renamed and headquartered in the United States and Altaris intends to combine it with its recently acquired Minaris Regenerative Medicine to form Minaris Advanced Therapies, expanding cell-therapy CDMO capabilities and global footprint.

Tenpoint Therapeutics Ltd. and Visus Therapeutics, Inc. completed a merger to combine their ophthalmic drug development programs, bringing the late-stage presbyopia candidate BRIMOCHOL PF together with Tenpoint’s broader aging-eye pipeline. The combined company is launching a crossover financing round with participation from institutional investors to support an NDA filing and a planned US commercial launch of BRIMOCHOL PF in the 1H of 2026. Henric Bjarke was named CEO of the merged company.

AbbVie has completed the $1.4 billion acquisition of Aliada Therapeutics, a RA Capital- and JJDC-backed biotech developing ALIA-1758, an anti‑pyroglutamate amyloid beta antibody that uses a blood‑brain‑barrier crossing technology for Alzheimer's disease. The deal brings Aliada's CNS drug‑delivery platform and lead Phase 1 asset into AbbVie's neuroscience pipeline and represents an exit for RA Capital's Raven incubator and other early investors.

Chroma Medicine and Nvelop Therapeutics have merged to form nChroma Bio and completed an oversubscribed $75 million financing led by Cormorant Asset Management, ARCH Venture Partners, Atlas Venture and Newpath Partners. The combined company will advance a pipeline built on epigenetic editing and non-viral, programmable in vivo delivery, with lead candidate CRMA-1001 targeted at chronic hepatitis B and D and a planned clinical trial application submission in 2025.

Ampersand Capital Partners has made a growth equity investment in VIVEbiotech to support expansion of the company’s lentiviral vector development and GMP manufacturing capabilities in San Sebastián, Gipuzkoa, Spain. The investment will fund capacity growth and execution of VIVEbiotech’s pipeline of customer projects for cell and gene therapy developers, and industry veteran Dr. Stefan Beyer has been named Chairman.

Ampersand Capital Partners has completed the acquisition of Nektar Therapeutics' PEGylation reagent manufacturing business and launched the new Ampersand portfolio company, Gannet BioChem, operating from a 124,000 sq. ft. FDA‑inspected facility in Huntsville, Alabama. The transaction represents a divestiture by Nektar and creates an independent specialty CDMO focused on development, scaling, and GMP production of polyethylene glycol (PEG) reagents for clinical and commercial biopharmaceutical customers.

Roche Holdings, Inc. has agreed to acquire San Diego-based Poseida Therapeutics for $9.00 per share in cash plus a contingent value right (CVR) for up to $4.00 per share, representing an aggregate equity value of up to $1.5 billion. The acquisition will bring Poseida's non-viral gene-editing platforms, allogeneic TSCM-rich CAR-T programs and in-house GMP cell therapy manufacturing into Roche's Pharmaceuticals Division to establish a new core capability in allogeneic cell therapy.

Standard BioTools Inc. has acquired Sengenics Corporation Pte Ltd, a Summa Equity portfolio company, to broaden its proteomics and antibody‑profiling capabilities. The deal will integrate Sengenics' KREX™ immunoproteomics and i-OME™ Discovery platform with Standard BioTools' SomaScan/proteomics offerings to enhance biomarker discovery and accelerate drug development.

Abpro Corporation and Atlantic Coastal Acquisition Corp. II completed their business combination and the combined company will operate as Abpro Holdings, Inc., with Abpro Corporation as a wholly owned subsidiary. The company is expected to begin trading on Nasdaq under the ticker ABP (and ABPWW for warrants); South Korea's Celltrion participated in a $5.0 million PIPE and appointed Soo Young Lee to Abpro's board.

Global healthcare private equity firm ARCHIMED has acquired SeqCenter, a Pittsburgh, Pennsylvania-based provider of next-generation DNA and RNA sequencing, through its MED Rise fund. ARCHIMED will leverage its MedValue playbook to accelerate SeqCenter's internationalization in Europe and Asia and support further development of advanced sequencing technologies; SeqCenter's founder rolled over a significant portion of his proceeds into the business.

GHO Capital Partners and Ampersand Capital Partners have completed the acquisition of Avid Bioservices, a dedicated biologics CDMO, in an all-cash transaction valued at approximately $1.1 billion. The transaction takes Avid private (shareholders received $12.50 per share) and positions the company for capability expansion, geographic reach and accelerated growth under the new PE ownership.

Microbiologics has acquired SensID, a Rostock, Germany-based maker of reference materials and quality controls for molecular diagnostics, marking Microbiologics' first location outside the United States. The deal expands Microbiologics' capabilities into oncology and precision medicine and combines both companies' expertise to broaden diagnostic quality-control offerings for diagnostic developers and clinical labs.

Huons Co., Ltd. agreed to acquire 2,647,378 shares and newly issued shares in PanGen Biotech Inc. for KRW 14.3 billion, taking a 31.53% stake and becoming PanGen's largest shareholder with plans to secure management control and incorporate PanGen as a subsidiary. The deal is intended to strengthen Huons' biopharmaceutical R&D and CDMO manufacturing capabilities, including securing GMP production for human-derived hyaluronidase used to enable subcutaneous delivery of biologics.

Miura Partners has signed an agreement to acquire HTBA (HealthTech BioActives), a Barcelona-headquartered producer of flavonoids and active vitamin B12 used across pharmaceutical, nutraceutical, food & beverage and animal nutrition markets. Miura will pursue organic and inorganic initiatives to consolidate HTBA as a leading platform for natural ingredients; the deal is the third investment from Miura Fund IV and is pending approval from the Spanish regulator.

Lomond Therapeutics completed a reverse merger with Venetian-1 Acquisition Corp., which changed its name to Lomond Therapeutics Holdings, Inc., and closed a $44 million private placement led by existing and new investors. The financing included participation from OrbiMed, Torrey Pines Investment, Deerfield Management, American Financial Group and Heights Capital and will fund advancement of Lomond’s clinical-stage oncology programs (lomonitinib, lonitoclax and a menin inhibitor).

Quris-AI has acquired the assets of Nortis (formerly Numa Biosciences) to integrate Nortis's Kidney-on-Chip microphysiology systems into Quris-AI's Bio-AI clinical prediction platform. The acquisition will combine Nortis's validated in-vitro kidney models with Quris-AI's machine-learning models and expand access to publicly funded MPS data while continuing collaborations with research institutes, the FDA and pharmaceutical partners.

Axol Bioscience Ltd. has fully acquired Phenocell SAS, adding Phenocell’s iPSC-derived skin and retinal cell lines and custom bioassay services to Axol’s drug discovery product portfolio. The acquisition expands Axol’s capabilities into ophthalmology and dermatology (including AMD and cosmetics testing); financial terms were not disclosed.

INVO Bioscience has completed a reverse-triangular merger to acquire 100% of NAYA Biosciences, and the combined company will operate as NAYA Biosciences (NASDAQ: NAYA). The combined business will continue INVO's revenue-generating fertility operations while adding NAYA's clinical-stage oncology and autoimmune therapeutics pipeline and updating management and board composition.

Vizgen and Ultivue have merged to create a single spatial biology company that combines Vizgen’s MERFISH single-cell spatial genomics platform with Ultivue’s InSituPlex assays and STARVUE proteomic/AI capabilities. Rob Carson (former CEO of Ultivue) will serve as President and CEO of the combined Vizgen, and the transaction was completed alongside Vizgen’s Series D financing backed by investors including ARCH Venture Partners, Northpond Ventures and Tao Capital Partners.

SK bioscience has invested USD 3 million to acquire a stake in Fina Biosolutions (FinaBio), a Rockville, Maryland–based developer of conjugate vaccine technologies and CRM197 protein manufacturing. The strategic investment makes SK bioscience FinaBio's first strategic investor and is intended to accelerate commercialization of FinaBio's EcoCRM and conjugation technologies while enhancing SK bioscience's vaccine development and manufacturing capabilities.

Calibre Scientific has acquired Molecular Research Center, Inc. (MRC), an Ohio-based developer and manufacturer of reagents and kits for RNA and DNA isolation and analysis. The acquisition expands Calibre Scientific's life‑science reagent and molecular biology product offering and strengthens its capabilities in nucleic acid isolation technologies.

Cellipont Bioservices named Darren Head as CEO and announced a minority growth equity investment from HealthQuest Capital, with majority investor Great Point Partners also participating. The capital and leadership transition are intended to support Cellipont’s expansion of cell-therapy CDMO capabilities and operational growth.

Bruker Corporation has acquired Dynamic Biosensors GmbH, a Munich-based developer of single-cell interaction cytometry and biosensor instruments, to strengthen Bruker’s biosensors portfolio. The deal combines Dynamic Biosensors’ heliXcyto and heliX+ technologies with Bruker’s high-throughput SPR systems to expand capabilities and product offerings for drug discovery and biopharma research; financial terms were not disclosed.

Valerio Therapeutics S.A. completed the acquisition of Emglev Therapeutics on September 29, 2024, transferring Emglev's proprietary synthetic single-domain antibody (sdAb) platform into a newly formed Valerio subsidiary, Valour Bio. The deal was structured as a cash sale of shares combined with a contribution-in-kind (Emglev shares exchanged for Valour Bio shares), making Emglev shareholders shareholders of Valour Bio and positioning Valour Bio to advance sdAb discovery and development across oncology and inflammatory/autoimmune indications.

Growth equity firm AVANT BIO (Avant Bio Fund II LP) participated in three financing rounds: it joined Nomic Bio’s oversubscribed Series B, led PathPresenter’s $7.5M Series A, and joined PL BioScience’s €7.8M Series A. The investments support commercialization, scale-up of production and adoption of life‑science and healthtech solutions across proteomics, digital pathology, and xeno‑free cell culture media.

Molecular Designs, a Birmingham-based provider of PCR assays and related reagents and equipment, has acquired Lamda Biotech, a St. Louis provider of molecular biology research products and kits. The deal will expand Molecular Designs’ product portfolio and manufacturing capacity while broadening access to academic research and pharmaceutical customers and strengthening R&D and technical talent.

eMolecules, a San Diego-based provider of a chemical compound search-and-fulfillment platform and a portfolio company of Avista Healthcare Partners, has acquired Synple Chem AG, an automated chemical synthesis systems and services provider headquartered near Zurich, Switzerland. The acquisition adds Synple's automation technology and a virtual compound library of more than 7 trillion tractable compounds to eMolecules' existing offering, expanding its capabilities as a one-stop shop for compound procurement, management and automation for drug discovery customers.

Adelis Equity Partners has taken a majority, controlling stake in IonOpticks, a fast-growing developer and manufacturer of high-performance chromatography solutions for LC‑MS proteomics. The founders and management are co-investors; the investment will fund IonOpticks' global expansion, product development, and support future acquisitions as the company scales its commercial footprint.

PD Theranostics, a Lucius Partners portfolio company, has completed a merger with Ovation.io to create a multiomics data company that combines Ovation's population-scale biobank with PDTx's high-dimensional imaging and multiomic platform. The combined business will link sequencing, imaging, and longitudinal clinical data to accelerate biomarker and target discovery for drug development and clinical research.

Leinco Technologies, a portfolio company backed by Ampersand Capital Partners, has acquired Genovis-owned QED Biosciences to expand its catalog of antibodies, recombinant proteins and IVD raw materials. The deal transfers Genovis' antibody business to Leinco and strengthens Leinco's antibody development and IVD support capabilities for research and diagnostics customers worldwide.

Asahi Kasei Corporation completed a recommended public cash offer for Calliditas Therapeutics AB, acquiring 93.30% of the outstanding shares and ADSs as of settlement. Asahi Kasei intends to convert ADSs, commence a compulsory buy-out of remaining shares, and pursue delisting of Calliditas from Nasdaq Stockholm and suspension/delisting of ADSs in the U.S.

VION Biosciences, the life-science platform backed by Iron Path Capital, has acquired Ansh Labs, an immunoassay development and reagent manufacturer based in Houston, Texas. The add-on expands VION's diagnostics capabilities — adding GMP IVD manufacturing and ISO 13485 certification — and broadens the platform's product and service offerings for clinical diagnostics, research, and pharmaceutical development.

VION Biosciences, the life-science platform backed by Iron Path Capital, has acquired Salt Lake City-based Echelon Biosciences, a specialist supplier of lipid-based excipients and lipid nanoparticles. The add-on strengthens VION's capabilities in lipid synthesis and lipid nanoparticle technology to support mRNA and gene-therapy development and advances the platform toward drug manufacturing while keeping Echelon’s leadership and operations intact.

Energy Fuels Inc. acquired RadTran LLC, a private specialist in radioisotope separation, to accelerate development and production of medical isotopes (notably Ra-226 and Ra-228) used in targeted alpha therapies for cancer. The deal (closed August 16, 2024) paid $1.5M cash, $1.5M in shares, a 2% royalty on future radium revenues and up to $14M in additional cash/shares tied to milestones; RadTran's CEO Saleem Drera joins Energy Fuels to lead radioisotope efforts.

TenX Keane Acquisition (Nasdaq: TENK) completed a merger with Citius Pharmaceuticals' wholly owned oncology subsidiary to form the publicly traded Citius Oncology, Inc. Citius Pharmaceuticals retains approximately 90% ownership of the new company, which will commercialize the recently FDA-approved oncology therapy LYMPHIR and trade on Nasdaq under the ticker CTOR.

Crown Laboratories, a Hildred Capital portfolio company, completed the acquisition of Revance Therapeutics through a cash tender offer that expired February 4, 2025; the transaction closed on February 6, 2025 and Revance will be delisted from Nasdaq. The deal brings together Crown's skincare and consumer brands with Revance's DAXXIFY, RHA dermal fillers and other aesthetics/therapeutic offerings to expand product portfolio and commercialization capabilities across medical, retail and e-commerce channels.

Pharmacosmos A/S, through its U.S. affiliate Pharmacosmos Therapeutics Inc., agreed to acquire all outstanding shares of G1 Therapeutics, Inc. for $7.15 per share in cash, implying an approximate equity value of $405 million. The deal brings G1's FDA-approved oncology product COSELA into Pharmacosmos' commercial portfolio to accelerate patient access and expand Pharmacosmos' presence in oncology and supportive care.

Boehringer Ingelheim agreed to acquire Nerio Therapeutics, a San Diego-based preclinical biotech focused on PTPN2/N1 phosphatase inhibitors for immuno-oncology, for up to $1.3 billion. Nerio was invested/incubated by Viva BioInnovator and backed by a syndicate including Avalon Ventures; the deal is intended to accelerate development of Nerio’s preclinical program as a cornerstone of Boehringer’s immuno-oncology portfolio.

Novo Holdings has invested £50 million in UK-listed Oxford Nanopore Technologies via an equity issue and intends to make further share purchases in the secondary market. The investment is intended to support Oxford Nanopore's commercial growth and capability expansion in biopharmaceutical and biomanufacturing markets.

Otsuka Pharmaceutical Co., Ltd. will acquire clinical-stage biotech Jnana Therapeutics, making it a wholly owned subsidiary via Otsuka America, Inc. The deal values Jnana at $800 million in upfront cash plus up to $325 million in development and regulatory milestones and is intended to add Jnana's RAPID chemoproteomics platform and lead program JNT-517 (a potential oral PKU therapy) to Otsuka's specialty and autoimmune pipeline.

Dechra Pharmaceuticals Limited has agreed to acquire Boston-based Invetx Inc., a developer of species-specific monoclonal antibody therapeutics for companion animals, for up to $520 million on a cash-free, debt-free basis, subject to customary approvals. The deal gives Dechra access to Invetx's pipeline and half-life extension platform to expand its specialty veterinary biologics capabilities.

Thermo Fisher Scientific completed the acquisition of Olink Holding AB (publ) via a public cash tender offer at USD 26.00 per share/ADS, buying the proteomics company from shareholders including Summa Equity. The acquisition strengthens Thermo Fisher’s proteomics and protein-analysis capabilities, adding Olink’s high‑multiplex protein detection technology to its life‑science tools portfolio.

Illumina, Inc. has acquired Fluent BioSciences to integrate Fluent's PIPseq single-cell technology into Illumina's product portfolio and accelerate its multiomics capabilities. The acquisition, which closed July 9, 2024 and was funded with cash on hand, brings Fluent's accessible, scalable single-cell chemistry and the Fluent team into Illumina to expand end-to-end single-cell solutions for research and applied customers.

Eli Lilly agreed to acquire Morphic Holding, Inc. for $57 per share (approximately $3.2 billion) to expand its immunology and gastroenterology pipeline with Morphic's oral integrin therapies, including MORF-057. Lilly commenced a tender offer that was completed (with subsequent second-step merger) and the transaction closed in August 2024.

Genezen has acquired uniQure's commercial gene therapy manufacturing operations and licensed viral-vector facility in Lexington, Massachusetts. The deal (funded in part by growth equity from Ampersand Capital Partners) transfers a commercially licensed AAV-capable manufacturing site and team to Genezen and includes strategic supply agreements to support uniQure's clinical portfolio and CSL Behring's commercial HEMGENIX product.

Partners Group has acquired a majority stake in FairJourney Biologics from GHO Capital; GHO will reinvest as a minority investor and founder António Parada remains invested. The transaction will further capitalise FairJourney to expand its antibody discovery and development capabilities, scientific leadership and global footprint.

AbbVie has acquired Celsius Therapeutics, a Cambridge-based clinical-stage biotechnology company, for $250 million in cash. The acquisition adds Celsius' lead anti-TREM1 antibody candidate CEL383 to AbbVie’s inflammatory disease pipeline to support development for inflammatory bowel disease (IBD).

1315 Capital, a Philadelphia-based healthcare-focused growth equity firm, made a significant equity investment in Primrose Bio to support development and commercial expansion of Primrose’s nucleic acid and protein manufacturing technologies. The funding will accelerate commercialization of the company’s Prima RNApols, Pfenex expression system, and PeliCRM carrier protein for therapeutics and vaccines.

GSK plc has completed the acquisition of Elsie Biotechnologies, a San Diego–based oligonucleotide-focused biotechnology company, for up to $50 million. The deal integrates Elsie's discovery, synthesis and delivery capabilities into GSK's oligonucleotide R&D platform to accelerate development of therapeutics for chronic hepatitis B, steatotic liver disease and other difficult-to-treat diseases.

Merck (through a subsidiary) will acquire Eyebiotech Limited (EyeBio) for up to $3.0 billion — $1.3 billion upfront in cash plus up to $1.7 billion in development, regulatory and commercial milestones. The acquisition—expected to close in Q3 2024 and to be accounted for as an asset acquisition—adds EyeBio's ophthalmology-focused pipeline, including lead candidate Restoret (EYE103), to Merck's growing ophthalmology presence.