Tracked deals
83
83 tracked deals across 2025.
Tracked deals
83
83 tracked deals across 2025.
Buyer mix
Strategic-led
78 strategic · 17 pe
Top trend
Volume peaked in 2022
114 tracked deals announced in 2022.
Buyer Snapshot
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Eli Lilly and Company | 3 | Global pharmaceutical company that discovers, develops an... | Strategic |
| ARCHIMED | 2 | Healthcare‑focused private investment firm investing in b... | PE |
| AbbVie | 2 | Global biopharmaceutical company focused on discovering a... | Strategic |
| LifeNet Health | 2 | Nonprofit/regenerative medicine organization providing tr... | Strategic |
| NLS Pharmaceutics Ltd. | 2 | Clinical-stage biopharmaceutical company focused on devel... | Strategic |
| Novartis AG | 2 | Global pharmaceutical company focused on discovery, devel... | Strategic |
| QIAGEN N.V. | 2 | Global provider of Sample-to-Insight molecular technologi... | Strategic |
| AVS Bio | 1 | Global provider of SPF laboratory products and biologics ... | Strategic (PE-backed) |
| Aerovate Therapeutics, Inc. | 1 | Biotechnology company developing therapies for rare cardi... | Strategic |
| Alcon | 1 | Global leader in eye care providing surgical and vision-c... | Strategic |
Last 10 years
Supporting Data
LifeNet Health has acquired Tissue Testing Technologies LLC (T3), a North Charleston–based biotechnology firm specializing in biopreservation and cryopreservation solutions. The acquisition adds T3’s proprietary preservation technologies and contract research capabilities to LifeNet Health’s regenerative medicine and transplantation platforms to expand clinical reach and accelerate research pipelines.
Genmab A/S, through its wholly owned purchaser Genmab Holding II B.V., completed a tender offer to acquire outstanding common shares of Merus N.V. for $97.00 per share and commenced a subsequent offering period. The acquisition adds Merus' lead late‑stage oncology asset petosemtamab to Genmab's portfolio, expanding its antibody therapeutics pipeline and expected to be accretive to EBITDA by 2029.
Eli Lilly and Company agreed to acquire Adverum Biotechnologies in a cash-and-contingent-value-rights tender offer for all outstanding shares. The total consideration is $3.56 per share in cash at closing plus a CVR that could pay up to $8.91 per share upon achievement of specified milestones, with the transaction expected to close in the fourth quarter of 2025.
Innova Therapeutics has completed the acquisition of Enci Therapeutics, adding Enci’s lead oncology program, IVT-8086, a first-in-class humanized monoclonal antibody targeting SFRP2, to its development pipeline. Financial terms were not disclosed; Innova said the program and associated IP (patents through at least 2042) will support development across multiple solid and hematologic cancers and a companion diagnostic is in development.
XOMA Royalty Corporation has completed its acquisition of all outstanding shares of LAVA Therapeutics N.V. for $1.04 in cash per share plus a non-transferrable contingent value right (CVR) that may pay additional amounts tied to LAVA’s partnered and unpartnered programs. The transaction included a corporate reorganization, with LAVA’s shares suspended prior to trading on November 21, 2025 and planned delisting from Nasdaq.
Colossal Biosciences has acquired Viagen Pets and Equine, a Texas-based leader in animal cloning, cryopreservation, and genetic preservation, which will operate as a wholly owned subsidiary under its existing leadership. The deal expands Colossal’s de‑extinction and species preservation platform, bringing Viagen’s cloning expertise, biobanking capabilities and a ~25‑person team into Colossal’s conservation pipeline.
NanoTemper Technologies has acquired Envue Technologies, a Swedish spinout that developed Nanofluidic Scattering Microscopy (NSM), to expand its single-molecule and label-free analysis capabilities. The deal integrates Envue's NSM technology into NanoTemper's biophysical analysis portfolio and coincides with NanoTemper's launch of the Dianthus α application to enhance early-stage drug discovery workflows.
QIAGEN entered into a definitive agreement to fully acquire Parse Biosciences, expanding its Sample technologies portfolio into the single-cell sequencing market. The deal is expected to close in late 2025/December 2025 for an upfront payment of approximately $225 million in cash, plus up to $55 million in milestone payments.
BioIVT has acquired BeCytes Biotechnologies, a Barcelona-based provider of ethically sourced human tissues and primary cell isolation services. The deal expands BioIVT's European footprint and strengthens its capabilities for New Approach Methodologies (NAMs) and ADME research; BeCytes will continue to operate from Barcelona and financial terms were not disclosed.
Pacific Software, Inc. completed a change of control and reverse takeover (RTO) transaction with PurMinds Holdings Inc., finalizing the acquisition effective November 3, 2025 and rebranding the public company as PurMinds Enterprises, Inc. The combined company has taken occupancy of a 20,477 sq. ft. cGMP-ready pharmaceutical manufacturing and R&D facility and is pursuing OTCQX uplisting and PCAOB-audited financials to support its clinical-stage neuromedicine strategy.
Swiss-based NLS Pharmaceutics Ltd. merged with clinical-stage cell therapy company Kadimastem Ltd. to create a combined Nasdaq-listed biotechnology company named NewcelX Ltd. The merger closed effective October 30, 2025, with the new company beginning trading on the Nasdaq Capital Market on October 31, 2025 under ticker “NCEL.”
Northwest Biotherapeutics (NWBio) has completed its acquisition of Advent BioServices Ltd., with Advent becoming a wholly owned subsidiary. The deal is intended to create a more integrated manufacturing and operations platform to scale production of NWBio’s DCVax immunotherapy products, including facilitating consolidation of facilities and reallocation of resources to Sawston and capacity expansion in the United States.
Novartis AG has entered into a definitive merger agreement to acquire Avidity Biosciences for $72.00 per share in cash, valuing Avidity at approximately $12.0 billion. The transaction follows the planned separation of Avidity’s early-stage precision cardiology programs into a new publicly traded company (“SpinCo”), which is expected to begin trading after the spin-off.
Chugai Pharmaceutical Co., Ltd. will acquire Renalys Pharma, Inc. through a definitive stock purchase agreement. The transaction includes an upfront payment of JPY 15.0 billion and potential earn-outs of up to JPY 16.0 billion tied to regulatory and sales milestones for sparsentan in Japan, South Korea, and Taiwan.
The Jackson Laboratory (JAX) has completed its acquisition of the New York Stem Cell Foundation (NYSCF), combining JAX's genetics and preclinical modeling expertise with NYSCF's stem cell automation and high-throughput research platform. The unified nonprofit aims to create an integrated discovery platform that accelerates translational research by linking genomics, stem cell biology, and data/AI capabilities.
Ipsen entered into a definitive share purchase agreement to acquire ImCheck Therapeutics, a Marseille-based next-generation immuno-oncology biotech. The deal includes a €350 million upfront payment and downstream payments, with total potential consideration up to €1 billion, and is expected to close by the end of Q1 2026 subject to regulatory approvals.
Bristol Myers Squibb (BMS) has entered into an agreement to acquire Orbital Therapeutics, a privately held biotechnology company developing RNA medicines. The $1.5 billion cash deal will give BMS Orbital’s lead candidate OTX-201 and its proprietary RNA platform, supporting BMS’s efforts to advance in vivo CAR T and immunotherapy approaches.
Halozyme Therapeutics (NASDAQ: HALO) entered into a definitive agreement to acquire Elektrofi, a biopharmaceutical formulation technology company developing Hypercon, an ultra-high concentration microparticle technology for biologics. The deal includes an upfront payment of $750 million plus up to three $50 million regulatory milestone payments, and is expected to close in the fourth quarter of 2025 subject to HSR review and customary closing conditions.
Precision Cell Systems (PCS) has acquired BennuBio, a New Mexico–based developer of the Velocyt imaging flow cytometer, to expand PCS's single-cell and 3D cell culture analysis capabilities. BennuBio founders and leadership will join PCS to integrate the Velocyt platform, and BennuBio lead investor Tramway Ventures has joined PCS's investor syndicate to support the company's consolidation strategy.
ARCHIMED, a healthcare-focused private equity firm, has acquired a majority stake in Switzerland-based ExcellGene SA and its sister company Magellan Biologics & Consulting (Portugal), partnering with founders Florian and Maria Wurm and management. The investment creates a group focused on cell line development, gene transfer and cell culture-based manufacturing to accelerate work on biosimilars, recombinant proteins and transfection/media products.
Respira Therapeutics, a Samsara BioCapital portfolio company, entered into an agreement granting Gossamer Bio an option to acquire Respira. The transaction is intended to accelerate development of RT234 (vardenafil inhalation powder), a potential PRN therapy for pulmonary hypertension including PAH and PH-ILD, with Gossamer funding specified pre-agreed development activities during the option period.
Kemin Industries has acquired CJ Youtell Biotech, the enzymes and fermentation subsidiary of CJ Bio, gaining full ownership of CJ Youtell’s fermentation plants and enzyme product portfolio. The acquisition adds fermentation capacity in Shandong and Hunan, China and expands Kemin’s global enzyme R&D, manufacturing and product offerings across animal feed, food, aquaculture and industrial end markets.
SERB Pharmaceuticals completed its acquisition of Y-mAbs Therapeutics following a tender offer and statutory merger, making Y-mAbs a wholly owned subsidiary and delisting it from Nasdaq. The deal adds Y-mAbs' antibody-based oncology assets — including Danyelza (naxitamab-gqgk) — to SERB's rare disease and rare oncology portfolio to expand its commercial capabilities in pediatric and rare cancers.
Quintara Biosciences has completed the acquisition of the Laragen Sanger Sequencing business (formerly operated by Transnetyx), effective September 15, 2025. The purchase preserves local operations and customer service in Los Angeles while expanding Quintara’s California sequencing footprint and capabilities.
Zephyr AI has acquired Aster Insights, a provider of scientific and clinical intelligence for oncology discovery, making Aster a wholly owned subsidiary to deepen Zephyr's real-world evidence and oncology data capabilities. Concurrently, Zephyr appointed Dr. Allen Chao, founder of Watson Pharmaceuticals, as CEO to lead the combined company's expansion of AI-driven precision medicine and clinical trial optimization.
Olaplex Holdings, Inc. has acquired Purvala Bioscience, a Boston-based biotech founded by Dr. Bradley Olsen that develops bioinspired molecules for health and beauty applications. The purchase — Olaplex's first acquisition since launching its brand over ten years ago — is intended to accelerate product innovation by combining Purvala’s molecular technologies with Olaplex’s patent-protected bond-building platform.
Kite, a Gilead company, entered into a definitive agreement to acquire Interius BioTherapeutics for $350 million in cash. The acquisition is intended to advance Kite’s in vivo CAR T-cell therapy platform by incorporating Interius’s integrating in vivo platform, delivered via a single intravenous infusion.
LifeNet Health has acquired HCM Medical, a Netherlands‑based contract manufacturing organization (CMO) specializing in biologics and tissue‑processing technologies. The deal expands LifeNet Health's manufacturing capabilities in regenerative biologics — including xenograft platforms, antibiotic‑coated implants, and advanced sterilization — to accelerate global access to advanced therapies.
AbbVie completed its acquisition of Capstan Therapeutics in a transaction valued at up to $2.1 billion. The deal adds Capstan’s in vivo tLNP anti-CD19 CAR-T therapy candidate (CPTX2309) and its proprietary tLNP platform for delivering RNA payloads to engineer cells in vivo.
CorMedix Inc. has entered into a definitive agreement to acquire Melinta Therapeutics, paying $300 million upfront (including $260 million cash and $40 million in CorMedix equity to Melinta shareholders), plus up to $25 million in a regulatory milestone and tiered royalties. The deal is expected to close in September, subject to customary closing conditions and U.S. regulatory approval.
AVS Bio, a portfolio company of Arlington Capital Partners, has acquired ImmunoPrecise Antibodies (Europe) B.V., a carve-out from ImmunoPrecise Antibodies Ltd. The acquisition expands AVS Bio's European footprint and adds antibody discovery, recombinant protein expression, and organoid growth factor development capabilities to its biologics services platform.
Bavarian Nordic A/S has accepted a takeover offer valued at DKK 19 billion (about $2.99 billion) from a consortium of Nordic Capital and Permira. Shareholders will receive an all-cash offer of 233 Danish kroner per share, and the deal is expected to close in the fourth quarter of 2025 subject to regulatory approvals and acceptance conditions.
Bristol Myers Squibb (BMS) and Bain Capital have created a new independent biopharmaceutical company (NewCo) to advance five licensed immunology assets, with Bain Capital committing $300 million and support from the Canada Pension Plan Investment Board. BMS licensed three clinical-stage and two Phase 1-ready programs to NewCo and will retain nearly a 20% equity stake while joining the new company's board.
Eli Lilly and Company completed the acquisition of Verve Therapeutics, a Boston-based clinical-stage developer of one-time gene-editing therapies for cardiovascular disease. Lilly said the deal will integrate Verve's genetic-medicine programs into its cardiometabolic research to advance potential lifelong cardiovascular risk–reduction treatments.
Synthego announced the successful closing of its sale of substantially all assets to funds managed by Perceptive Advisors, a life sciences investment firm. The transaction closed on July 18, 2025, and Synthego will continue operations under the new ownership as it expands its CRISPR product portfolio.
VERAXA Biotech AG and Voyager Acquisition Corp. entered a business combination agreement in April 2025, which is structured as an absorption merger. In February 2026, VERAXA shareholders approved the merger and the issuance of new shares to Voyager as prerequisites to closing; trading of the combined company on NASDAQ under symbol “VRXA” is expected following Voyager’s shareholder approval.
TandemAI and Perpetual Medicines have merged, with the combined company operating under the TandemAI name. Perpetual Medicines will operate as a separate entity within TandemAI to extend the firm's capabilities into computational peptide design and integrated synthesis, while leadership from both companies will continue in senior roles; financial terms were not disclosed.
ICL Group Ltd. has completed the acquisition of the majority of activities and assets of Lavie Bio Ltd., Evogene's ag-biologicals subsidiary, including Lavie Bio's BDD technology platform, microbial bank, pipeline and current commercial products. Evogene also transferred its MicroBoost AI tech-engine for agriculture to ICL as part of the divestiture; Lavie Bio core personnel will move to ICL while certain strategic partnerships remain with Lavie Bio.
LICORbio has acquired SERVA Electrophoresis, a Heidelberg-based manufacturer of electrophoresis reagents, consumables, and workflow instrumentation. The deal expands LICORbio's protein analysis product suite and will keep SERVA's Heidelberg location while integrating its technologies with LICORbio's imaging platforms.
BerGenBio ASA and Oncoinvent ASA have entered into a merger agreement to combine the two companies via a statutory merger, with BerGenBio as the acquiring entity. The transaction is supported by major shareholders and is expected to be completed around mid-September 2025, alongside a fully underwritten NOK 130 million rights issue to fund Oncoinvent’s clinical development through 2027.
NLS Pharmaceutics (NASDAQ: NLSP) and Kadimastem (TASE: KDST) are progressing with their proposed merger, which would combine their CNS biopharmaceutical and off-the-shelf allogeneic cell therapy pipelines into a Nasdaq-traded company named NewcelX. The transaction is supported by financing actions (including equity financings and a $25 million committed equity facility) and shareholder approvals, with the companies targeting completion in early Q3 2025.
Novartis has completed the acquisition of Regulus Therapeutics, making Regulus an indirect wholly owned subsidiary following a tender offer and merger. The deal secures Regulus' investigational oligonucleotide therapy farabursen for ADPKD and strengthens Novartis' renal disease pipeline.
Nicoya Lifesciences acquired UK-based Applied Photophysics, integrating established biophysical instrumentation (CD, stopped-flow, nanoDSF) with Nicoya's SPR platforms to create a more comprehensive biologics characterization offering. The deal immediately doubles Nicoya's revenue, triples its customer base, establishes Applied Photophysics's Leatherhead site as Nicoya's European hub, and was financed by Nicoya's existing investor syndicate led by Graphite Ventures.
Juvenescence Limited has acquired Ro5 Inc., an AI-driven drug discovery company, to integrate Ro5's Biomedical Knowledge Graph and AI chemistry platform into Juvenescence's R&D operations. The deal strengthens Juvenescence's machine-learning drug discovery capabilities and supports its strategic partnership with Abu Dhabi-based M42 to accelerate the development of therapeutics targeting age-related diseases.
Continuity Biosciences, LLC has acquired Focal Medical, Inc., a North Carolina–based biopharmaceutical company developing iontophoresis-based, site-specific chemotherapy delivery for pancreatic cancer. The acquisition transfers Focal Medical's patent estate, device platform, equipment, licensing agreements and key personnel to Continuity as it expands its drug‑delivery and device-enabled therapeutics capabilities and advances the lead program toward clinical trials.
Bruker Corporation has acquired biocrates life sciences ag, an Innsbruck, Austria-based leader in mass-spectrometry-based quantitative metabolomics. The deal adds biocrates' metabolomics kits, assays, software and contract research services to Bruker's multiomics strategy, expanding Bruker's MS-based metabolomics and integrated multiomics capabilities. Financial terms were not disclosed.
STEMCELL Technologies has acquired Cellular Highways Ltd from TTP Group Ltd. The acquisition brings Cellular Highways' Highway1 instrument and proprietary VACS cell-sorting technology into STEMCELL's portfolio to expand its cell-processing and cell therapy capabilities and broaden market reach.
Sun Pharmaceutical Industries Limited has completed the acquisition of Checkpoint Therapeutics, Inc., acquiring all outstanding shares for $4.10 per share in cash plus a contingent value right. The deal gives Sun Pharma ownership of UNLOXCYT (cosibelimab-ipdl), the FDA-approved anti-PD-L1 therapy for advanced cutaneous squamous cell carcinoma, and expands its oncology/onco-derm product portfolio.
Mapmygenome, an AI-driven genomics company based in Hyderabad, India, has acquired Microbiome Insights, a Canadian microbiome sequencing and bioinformatics CRO with a CAP-accredited lab. The deal expands Mapmygenome's capabilities in metagenomics and bioinformatics and accelerates its geographic expansion into North America; financial terms were not disclosed.
Magnitude Biosciences, a County Durham–based contract research organisation, secured over £700,000 in growth funding led by NPIF II - Maven Equity Finance alongside the Finance Durham Fund with continued support from Northstar Ventures. The funding, matched by an Innovate UK grant, will scale the company's WormGazer high-throughput in vivo screening platform, expand robotics, machine‑learning and biological capabilities, and create skilled jobs at NETPark in Sedgefield.
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