Tracked deals
113
113 tracked deals across 2008-2026.
Biotechnology Buyers & Acquisitions in California
Buyer mix
Strategic-led
98 strategic · 36 pe
Top trend
Volume peaked in 2022
25 tracked deals announced in 2022.
Primary Insight
What Stands Out
- Strategic buyers spanning big pharma and specialty biopharma show up repeatedly: Eli Lilly and Company, Johnson & Johnson, UCB, GSK, and Ligand Pharmaceuticals Incorporated.
- Platform and modality themes include antibody conjugate degrader platforms, non-viral DNA delivery (Tethosome), next-generation anti-IgE approaches, and blood-brain barrier delivery.
- Oncology and immunology are prominent areas, with deals explicitly aimed at oncology pipeline expansion and respiratory/immunology/inflammation programs.
- Contingent value rights (CVRs) are a recurring deal structure element, used in multiple acquisition agreements.
- California, United States is the consistent geographic anchor for the highlighted transactions.
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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 |
|---|---|---|---|
| Eli Lilly and Company | 5 | Global pharmaceutical company focused on discovery, devel... | Strategic |
| Ampersand Capital Partners | 3 | Middle-market private equity firm focused on growth-orien... | PE |
| Amgen | 2 | Global biopharmaceutical company discovering, developing,... | Strategic |
| BroadOak Capital Partners | 2 | Life-sciences focused boutique investment firm providing ... | PE |
| Fortis Life Sciences | 2 | Strategic platform company that provides capital, operati... | PE |
| Frazier Life Sciences | 2 | Venture investor focused on life sciences and healthcare ... | PE |
| Gilead Sciences | 2 | Global biopharmaceutical company developing and commercia... | Strategic |
| Gilead Sciences, Inc. | 2 | Research-based biopharmaceutical company that discovers, ... | Strategic |
| Incyte | 2 | Global biopharmaceutical company focused on discovery, de... | Strategic |
| Ligand Pharmaceuticals Incorporated | 2 | Public biopharmaceutical company that develops or acquire... | Strategic |
Acquisition Volume in Biotechnology in California by Year
Last 9 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
- 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
- Rallybio Corporation
- Target
- Avenzo Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Rallybio Corporation entered into a definitive merger agreement to acquire Avenzo Therapeutics, with the combined company expected to operate as Avenzo Therapeutics, Inc. and trade on Nasdaq under the ticker symbol AVZO. The transaction includes a concurrent, oversubscribed $215 million private placement with participation from healthcare institutional investors and mutual funds, and is expected to close in Q4 2026 subject to customary conditions.
-
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
- 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.
-
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
- 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.
-
- 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 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 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.
-
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.
-
January 23, 2026
- Buyer
- GSK
- Target
- RAPT Therapeutics
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
GSK signed a definitive agreement to acquire RAPT Therapeutics for an aggregate equity value of about $2.2 billion, expanding its Respiratory, Immunology & Inflammation pipeline. The deal adds ozureprubart, a long-acting anti-IgE monoclonal antibody in Phase IIb development for prophylaxis of food-allergy reactions.
-
December 9, 2025
- Buyer
- Eli Lilly and Company, Flying Tigers Acquisition Corporation
- Target
- Adverum Biotechnologies, Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
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.
-
October 26, 2025
- Buyer
- Novartis AG
- Target
- Avidity Biosciences, Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
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.
-
September 25, 2025
- Buyer
- Gossamer Bio, Inc.
- Target
- Respira Therapeutics, Inc.
- Seller
- Samsara BioCapital
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
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.
-
- Buyer
- Quintara Biosciences
- Target
- Laragen Sanger Sequencing
- Seller
- Transnetyx
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Divestiture
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.
-
- Buyer
- Perceptive Advisors (funds managed by)
- Target
- Synthego
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
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.
-
June 25, 2025
- Buyer
- Novartis AG
- Target
- Regulus Therapeutics Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
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.
-
May 23, 2025
- Buyer
- Altos Labs
- Target
- Dorian Therapeutics
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
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.
-
May 1, 2025
- Buyer
- CellBio Scientific
- Target
- BioChain
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
CellBio Scientific, a provider of life science tools and research services, has acquired BioChain, a biospecimen collection, preparation, and analysis company based in Newark, California. The acquisition expands CellBio Scientific's capabilities in spatial genomics and biospecimen workflows, consolidating BioChain with System Biosciences and Acepix Biosciences to create a broader translational research platform.
-
March 20, 2025
- Buyer
- Sanofi
- Target
- Dren-0201 (affiliate of Dren Bio), Dren Bio, Inc.
- Seller
- Dren Bio, Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Sanofi has agreed to acquire DR-0201, a CD20-directed bispecific myeloid cell engager, through purchase of Dren Bio’s affiliate Dren-0201 for an upfront $600 million and up to $1.3 billion in milestone payments. The deal, aimed at broadening Sanofi’s immunology pipeline and advancing deep B-cell depletion approaches, is expected to close in Q2 2025 subject to regulatory approvals; Dren Bio will continue to operate independently to advance its broader pipeline.
-
March 3, 2025
- Buyer
- FairJourney Biologics S.A.
- Target
- Charles River Laboratories South San Francisco facility (formerly Distributed Bio)
- Seller
- Charles River Laboratories International, Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
FairJourney Biologics S.A. has acquired Charles River Laboratories' South San Francisco site (formerly Distributed Bio), including facilities, staff, assets and proprietary antibody libraries and yeast display technology. The acquisition expands FairJourney's antibody discovery and engineering capabilities and establishes a strategic presence in a major U.S. biotech hub to better serve biopharma customers.
-
February 5, 2025
- Buyer
- VION Biosciences
- Target
- BioAssay Systems
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Addon
VION Biosciences acquired Hayward, California–based BioAssay Systems in January 2025 as the fourth add-on for its life‑science products platform. The deal adds BioAssay Systems’ enzymatic and high‑throughput assay kits, reagents and analytical services to VION’s proprietary product portfolio to accelerate capability expansion for drug discovery and life‑science research customers.
-
November 28, 2024
- Buyer
- Roche Holdings, Inc.
- Target
- Poseida Therapeutics, Inc.
- Seller
- Poseida Therapeutics stockholders
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
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.
-
November 13, 2024
- Buyer
- Cullgen Inc.
- Target
- Pulmatrix, Inc., Cullgen Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Pulmatrix announced a proposed merger with Cullgen to create a Nasdaq-listed biopharmaceutical company focused on targeted protein degradation, including three degrader programs in or about to begin Phase 1 clinical trials. The combined company is expected to operate as Cullgen Inc. headquartered in San Diego, California, with closing expected by end of March 2025 subject to approvals. As part of the merger agreement, Pulmatrix plans to divest certain assets, and Pulmatrix stockholders are expected to receive a special cash dividend contingent on net cash at closing.
-
November 7, 2024
- Buyer
- GHO Capital Partners LLP, Ampersand Capital Partners
- Target
- Avid Bioservices
- Seller
- Avid Bioservices stockholders
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
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.
-
September 3, 2024
- Buyer
- Leinco Technologies, Ampersand Capital Partners
- Target
- QED Biosciences
- Seller
- Genovis
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Addon
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.
-
August 6, 2024
- Buyer
- Boehringer Ingelheim
- Target
- Nerio Therapeutics, Inc.
- Seller
- Avalon Ventures, Bregua Corporation, Correlation Ventures, Alexandria Venture Investments, Viva BioInnovator (VBI)
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
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.
-
June 17, 2024
- Buyer
- 1315 Capital
- Target
- Primrose Bio, Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Growth capital
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.
-
June 6, 2024
- Buyer
- GSK plc
- Target
- Elsie Biotechnologies
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
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.
-
- Buyer
- Biogen Inc.
- Target
- Human Immunology Biosciences
- Seller
- Human Immunology Biosciences stockholders, ARCH Venture Partners, Monograph Capital, Alpha Wave Global, Arkin Bio Capital, Jeito Capital, Viking Global Investors
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Biogen Inc. has agreed to acquire Human Immunology Biosciences (HI-Bio) for $1.15 billion upfront and up to $650 million in milestone payments, in a deal valued at up to $1.8 billion. The acquisition adds HI-Bio's lead asset felzartamab, an investigational anti-CD38 antibody with Phase 2 data in multiple renal immune-mediated diseases, to Biogen's immunology and rare-disease development capabilities.
-
April 23, 2024
- Buyer
- Incyte
- Target
- Escient Pharmaceuticals
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Incyte has agreed to acquire Escient Pharmaceuticals for $750 million plus Escient's net cash, adding two first‑in‑class oral MRGPR antagonists (EP262 and EP547) to its inflammation and autoimmunity portfolio. The acquisition, subject to customary closing conditions and HSR clearance, expands Incyte's pipeline in dermatology, chronic urticaria and pruritus with expected closing in 3Q 2024.
-
March 21, 2024
- Buyer
- Graphite Bio, Inc., Versant Ventures, RA Capital Management, Alpha Wave Global, Point72, Samsara BioCapital, Sectoral Asset Management, RTW Investments
- Target
- LENZ Therapeutics, Inc.
- Seller
- Pre-merger Graphite Bio stockholders, Pre-merger LENZ stockholders
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Recapitalization
LENZ Therapeutics completed its previously announced merger with Graphite Bio and will commence trading on Nasdaq under the ticker LENZ. The transaction included a 1-for-7 reverse stock split, a special cash dividend, and a concurrent $53.5 million PIPE from a syndicate of healthcare investors, leaving the combined company with approximately $210 million in cash to support late-stage CLARITY Phase 3 readouts and planned NDA submission in mid-2024.
-
January 8, 2024
- Buyer
- Merck
- Target
- Harpoon Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Merck has agreed to acquire clinical-stage immunotherapy company Harpoon Therapeutics for $23.00 per share in cash, representing an approximate total equity value of $680 million. The acquisition gives Merck access to Harpoon's TriTAC / ProTriTAC platforms and lead candidate HPN328 (a DLL3-targeting T‑cell engager) to enhance its oncology pipeline; the deal is expected to close in the first half of 2024, subject to customary conditions.
-
January 5, 2024
- Buyer
- Tome Biosciences
- Target
- Replace Therapeutics
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Tome Biosciences has acquired Replace Therapeutics in a merger valued at $65 million in up-front and near-term milestones and up to $185 million total through a mix of cash and stock. Replace will become a wholly owned subsidiary of Tome, adding its ligase-mediated programmable genomic integration (L-PGI) technology to complement Tome's large-DNA integrase-mediated PGI platform to expand the company's gene‑editing capabilities.
-
October 9, 2023
- Buyer
- QHP Capital
- Target
- Applied StemCell
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
QHP Capital has acquired Applied StemCell, a Milpitas, California–based cell and gene therapy CRO/CDMO that provides iPSC and TARGATT gene‑editing platforms for biopharma and research clients. QHP said the acquisition will provide strategic capital and operating support to accelerate ASC's commercial expansion and scale its manufacturing and service capabilities for the cell and gene therapy market.
-
October 5, 2023
- Buyer
- AbbVie
- Target
- Mitokinin
- Seller
- Mitokinin shareholders
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
AbbVie has exercised its exclusive right and completed the acquisition of Mitokinin, a discovery-stage biotechnology company developing a selective PINK1 activator for Parkinson's disease. AbbVie paid $110 million at closing with up to $545 million in additional milestone payments plus tiered royalties contingent on development and commercial milestones.
-
- Buyer
- Graf Acquisition Corp. IV
- Target
- NKGen Biotech, Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Graf Acquisition Corp. IV completed its previously announced business combination with NKGen Biotech, Inc., resulting in NKGen becoming a wholly‑owned subsidiary and the combined company listing on Nasdaq under the ticker NKGN. The transaction provides NKGen with access to public markets and capital to accelerate development and commercialization of its autologous, allogeneic and CAR‑NK cell therapy programs.
-
August 22, 2023
- Buyer
- Transnetyx
- Target
- Laragen
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Transnetyx, a Memphis-based provider of outsourced genetic services, has acquired Laragen, a sequencing and genetic services company in Culver City, California. The deal adds Sanger and next-generation sequencing (NGS) capabilities to Transnetyx's service portfolio to broaden its offerings for academic, government, and pharmaceutical research customers.
-
July 17, 2023
- Buyer
- Novartis
- Target
- DTx Pharma
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Novartis has acquired DTx Pharma, a San Diego–based preclinical biotechnology company, for an upfront payment of USD 500 million plus contingent milestone payments. The deal brings DTx's FALCON siRNA delivery platform and lead program DTx-1252 (orphan-designated for CMT1A) into Novartis to strengthen its neuroscience pipeline and xRNA capabilities.
-
June 20, 2023
- Buyer
- Eli Lilly and Company
- Target
- DICE Therapeutics, Inc.
- Seller
- DICE Therapeutics stockholders
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Eli Lilly agreed to acquire DICE Therapeutics for $48 per share (approximately $2.4 billion) in an all-cash tender offer to bolster Lilly's immunology pipeline and leverage DICE's DELSCAPE small-molecule discovery platform and oral IL-17 inhibitor programs. The transaction, approved by both boards, is expected to close in Q3 2023 subject to customary conditions and antitrust clearance.
-
May 9, 2023
- Buyer
- Gilead Sciences
- Target
- XinThera
- Seller
- Foresite Capital, OrbiMed Advisors, TTM Capital
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Gilead Sciences has acquired all outstanding shares of XinThera, a San Diego–based private biotechnology company, adding small-molecule oncology and inflammation programs (including PARP1-selective and MK2-targeting assets) to its early pipeline. Financial terms were not disclosed; XinThera was backed by investors including Foresite Capital, OrbiMed and TTM Capital.
-
May 3, 2023
- Buyer
- Paragraf, Ltd.
- Target
- Cardea Bio
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Paragraf, Ltd. has acquired Cardea Bio, the developer of the graphene-based CRISPR-Chip that powers CRISPR QC's CRISPR Analytics Platform. The acquisition combines Paragraf's scalable graphene electronics manufacturing with Cardea's biosensor expertise to secure a reliable supply of CRISPR-chips and accelerate deployment of CRISPR Analytics capabilities across the gene‑editing and life‑sciences markets.
-
- Buyer
- Shin Nippon Biomedical Laboratories, Ltd. (SNBL)
- Target
- Satsuma Pharmaceuticals, Inc.
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Shin Nippon Biomedical Laboratories, Ltd. (SNBL) has entered into a definitive agreement to acquire all outstanding shares of Satsuma Pharmaceuticals for $0.91 per share in cash plus a non-tradeable contingent value right (CVR) of up to $5.77 per share tied to future monetization of STS101. The transaction gives SNBL ownership of Satsuma's investigational intranasal migraine product STS101 and associated delivery technology, and is supported by Satsuma’s board as maximizing value for stockholders.
-
January 18, 2023
- Buyer
- Inscripta
- Target
- Infinome Biosciences, Sestina Bio
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Inscripta, a genome engineering company based in Pleasanton, California, has acquired synthetic biology firms Infinome Biosciences and Sestina Bio to accelerate its capabilities in sustainable biomanufacturing. The acquisitions integrate Infinome's GenoScaler strain-engineering platform and Sestina's data-driven scale-up strain design to advance Inscripta's commercialization of bio-manufactured products for industrial and consumer markets.
-
January 10, 2023
- Buyer
- Mubadala Investment Company PJSC
- Target
- National Resilience, Inc. (Resilience)
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Growth capital
Mubadala Investment Company PJSC has made an equity investment in National Resilience, Inc. (Resilience) and will establish a new GMP biopharma manufacturing facility in Abu Dhabi that Resilience will operate. The collaboration expands Resilience’s global biomanufacturing footprint, integrates the Abu Dhabi site into its network, and aims to strengthen regional and global biopharma supply chains.
-
January 9, 2023
- Buyer
- QIAGEN
- Target
- Verogen
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
QIAGEN completed the acquisition of Verogen for $150 million in cash, bringing Verogen’s NGS-based human identification and forensic genomics products and the GEDmatch database into QIAGEN’s forensics portfolio. The deal gives QIAGEN exclusive distribution rights for the MiSeq FGx forensic sequencer version and is intended to expand QIAGEN’s capabilities and commercial footprint in the fast-growing Human ID/forensics market.
-
January 4, 2023
- Buyer
- Agilent Technologies Inc.
- Target
- Avida Biomed
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
Agilent Technologies has acquired Avida Biomed, an early-stage developer of high-performance NGS target enrichment workflows for cancer research. The acquisition augments Agilent's SureSelect portfolio and expands its capabilities into high-growth clinical research and diagnostics markets by adding Avida's chemistries and automatable assays compatible with Agilent platforms.
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December 21, 2022
- Buyer
- Vistagen
- Target
- Pherin Pharmaceuticals, Inc.
- Seller
- Pherin Pharmaceuticals' stockholders
- Industry
- Biotechnology
- Location
- California, United States
- Type
- Buyout
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.
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Frequently Asked Questions
Which buyers appear repeatedly in California biotechnology acquisitions?
Several firms show up more than once, including Eli Lilly and Company, Gilead Sciences, Frazier Life Sciences, Ligand Pharmaceuticals Incorporated, GHO Capital Partners LLP, Ampersand Capital Partners, BridgeBio Pharma, Inc., and Rallybio Corporation.
What types of biotechnology assets or platforms are being acquired in California?
The recent deals describe acquisitions of drug candidates and platform technologies, including an oncology-focused degrader antibody conjugate platform, a non-viral DNA delivery technology, next-generation anti-IgE therapeutics, and blood-brain barrier (BBB) delivery technology plus CNS Alzheimer’s drug assets.
Do these acquisitions commonly include contingent payments like CVRs?
Yes. Multiple acquisition agreements reference CVRs tied to future outcomes, including milestone- or litigation-related contingent payments.
Is deal activity limited to M&A, or do financing and business combinations also appear?
Financing and business-combination activity appear alongside acquisitions in the same California biotechnology context—for example, a large Series B financing and a publicly traded SPAC business combination are both shown in the page’s recent events.
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