Biotechnology Acquisitions in 2025

Johnson & Johnson completed the acquisition of Halda Therapeutics OpCo, Inc. for $3.05 billion in cash, adding Halda's RIPTAC platform and clinical-stage prostate cancer candidate HLD-0915 to its oncology portfolio. The deal brings several earlier-stage RIPTAC-based programs for other solid tumors and positions J&J to advance oral targeted therapies that may overcome treatment resistance.

SBC Medical Group Holdings announced the final results of a tender offer to acquire up to 575,052 common shares of Waqoo, Inc. at JPY 1,900 per share, representing a total investment of approximately JPY 1,092.5 million. With an off-market transfer of remaining shares from major shareholder Yoshiyuki Aikawa, SBC Medical's ownership of Waqoo is expected to exceed 50%, making SBC the parent company to strengthen its regenerative-medicine R&D capabilities and presence in Japan.

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, through its wholly owned subsidiary Flying Tigers Acquisition Corporation, completed a tender offer to acquire Adverum Biotechnologies. Shareholders tendered approximately 64% of outstanding shares for $3.56 per share plus one contingent value right (CVR) per share (up to $8.91 aggregate upon milestone achievement); the parties expect to consummate the merger on December 9, 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 completed the acquisition of all outstanding common shares of LAVA Therapeutics N.V., paying $1.04 per share plus a contingent value right (CVR) that conveys rights to future milestone and royalty proceeds. The deal brings two partnered bispecific antibody programs (with Johnson & Johnson and Pfizer) and additional unpartnered programs into XOMA Royalty's milestone and royalty portfolio as part of its strategy to expand its biotechnology royalty assets.

Pfizer Inc. completed the acquisition of clinical-stage biopharmaceutical company Metsera, Inc. for $65.60 per share (approximately $7.0 billion enterprise value) plus contingent value rights of up to $20.65 per share. The deal brings Metsera's obesity and cardiometabolic therapeutic candidates into Pfizer's pipeline and makes Metsera a wholly owned subsidiary headquartered in New York.

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.

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.

NewcelX Ltd. (f/k/a NLS Pharmaceutics) completed a merger with Kadimastem Ltd., effective October 30, 2025, forming a combined biotechnology company that will trade on the Nasdaq Capital Market under the ticker "NCEL" starting October 31, 2025. Under the merger, Kadimastem shareholders received 0.706 NewcelX shares per Kadimastem share; the combined company will advance cell‑therapy and small‑molecule programs (including AstroRx and IsletRx) with headquarters in Zurich and R&D operations in Ness Ziona, Israel.

Northwest Biotherapeutics (NWBio) has completed the acquisition of Advent BioServices Ltd., making Advent a wholly owned subsidiary. The deal transfers Advent's fixed assets, intellectual property and cryostorage capabilities to NWBio to support scale-up and integration of manufacturing capacity for NWBio's DCVax immunotherapy programs.

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.

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.

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.

Bausch Health Companies Inc. completed a tender offer to acquire DURECT Corporation for $1.75 per share in cash (approximately $63 million upfront), plus up to $350 million in potential net sales milestone payments. The acquisition brings DURECT’s lead asset, larsucosterol — an FDA Breakthrough Therapy candidate for alcohol-associated hepatitis with a Phase 3 program planned — into Bausch Health’s hepatology pipeline; DURECT will become a wholly owned subsidiary and its Nasdaq shares will be delisted.

Battery Ventures has completed a take-private acquisition of Enzo Biochem (Enzo), a life‑science research reagents company. Battery plans to invest in R&D, accelerate growth, and build Enzo into a broader reagents platform through product development and targeted add-on acquisitions.

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.

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.

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 has completed its acquisition of Capstan Therapeutics, adding Capstan's lead asset CPTX2309 — an in vivo targeted lipid nanoparticle (tLNP) anti‑CD19 CAR‑T candidate in Phase 1 for B cell‑mediated autoimmune diseases — and a proprietary tLNP RNA delivery platform. The deal strengthens AbbVie's immunology pipeline and expands its in vivo cell‑programming capabilities for RNA payload delivery.

Vyome Therapeutics has closed its previously announced merger with ReShape Lifesciences, resulting in the combined public company Vyome Holdings which will begin trading on Nasdaq under the ticker HIND on August 15, 2025. Vyome, a Cambridge, Massachusetts-based clinical-stage company focused on immuno-inflammatory and rare disease therapeutics, will leverage the transaction to access public markets and advance its clinical-stage assets across the US-India innovation corridor.

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.

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.

Sanofi will acquire clinical-stage biopharmaceutical company Vicebio in a deal worth up to $1.6 billion, including $1.15 billion upfront and $450 million in milestone payments. Vicebio, created by Medicxi using the University of Queensland's Molecular Clamp technology, develops multivalent vaccines targeting respiratory viruses and recently advanced a bivalent RSV/hMPV candidate into Phase 1 trials.

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.

Funds managed by Perceptive Advisors have acquired substantially all of the assets of Synthego, with the transaction closing on July 18, 2025. Synthego will continue operating under its existing leadership and brand, maintaining manufacturing of guide RNA in Redwood City while leveraging Perceptive's resources to accelerate product development and expand its CRISPR offerings.

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.

TuHURA Biosciences (Nasdaq: HURA) completed the acquisition of Kineta, Inc., adding Kineta's Phase 2-ready VISTA inhibiting monoclonal antibody (now TBS-2025) to TuHURA's immuno-oncology pipeline. The deal was structured as a stock-for-stock merger and will enable TuHURA to initiate a Phase 2 trial and unlock further PIPE financing tranches tied to the transaction.

NLS Pharmaceutics Ltd. completed a $3.0 million equity financing to support its pending merger with Kadimastem Ltd.; the transaction closed and the combined company was re-named NewCelX Ltd. The deal brings together NLS's CNS-focused pipeline and Kadimastem's cell therapy programs (AstroRx and IsletRx) to advance clinical development for ALS, diabetes and other regenerative-medicine indications.

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.

Altos Labs has acquired Stanford spinout Dorian Therapeutics, a preclinical senotherapeutics startup developing small-molecule "senoblockers." Financial terms were not disclosed; Altos said the deal broadens its cellular rejuvenation capabilities by adding Dorian’s epigenetic senescence-targeting technology and preclinical programs in lung fibrosis and osteoarthritis.

BioMarin Pharmaceutical Inc. completed its acquisition of Inozyme Pharma, Inc. in an all-cash transaction valued at approximately $270 million ($4.00 per share). The deal adds Inozyme's late-stage enzyme replacement therapy INZ-701 for ENPP1 Deficiency to BioMarin's enzyme-therapy portfolio and is expected to accelerate development toward potential regulatory approval.

Funds managed by The Carlyle Group and SK Capital Partners have completed a takeover of bluebird bio, taking the Somerville, Massachusetts-based gene therapy company private. The deal provides significant primary capital and a new management team led by David Meek to scale commercial delivery, expand manufacturing capacity, and stabilize bluebird's financial position following liquidity concerns.

Gedeon Richter Plc. has acquired a significant equity stake in U.S.-based Granata Bio and will appoint a representative to Granata's board. The companies also signed a binding term sheet to co-develop BEMFOLA for the U.S. market and a royalty purchase agreement for Granata's hMG program, strengthening Richter's U.S. presence and Granata's fertility therapeutics portfolio.