Biotechnology Acquisitions in Connecticut

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.

Intus Biosciences (Intus Bio) has acquired Pattern Genomics, integrating Pattern's advanced genomic analysis and machine learning tools into Intus Bio's Titan-1 microbiome assay and analysis platform. The acquisition, supported by investor Connecticut Innovations, brings Pattern Genomics' founder Daniel Fasulo into Intus Bio as Head of IT and Bioinformatics to accelerate capability expansion and biomarker discovery across healthcare and pharmaceutical end markets.

Arlington Capital Partners has acquired Charles River Laboratories' Avian Vaccine Services business to form a standalone company, AVS Bio, serving the biologic manufacturing and bioprocessing markets. AVS Bio, headquartered in Norwich, Connecticut, supplies SPF eggs, antigens, cell products and diagnostic/manufacturing support services and has ~250 employees across 20+ facilities; Fairmount Partners advised Charles River on the sale.

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

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

Renovacor, an early‑stage biotechnology company developing AAV‑based gene therapies for BAG3‑associated cardiovascular and CNS diseases, closed a business combination with special purpose acquisition company Chardan Healthcare Acquisition 2 Corp. (CHAQ) and will begin trading on the New York Stock Exchange as Renovacor, Inc., with approximately $95.1 million of gross proceeds (including a $30.0 million PIPE) to fund clinical development into 2023. The transaction preserves Renovacor’s existing management team and provides public-market access and capital to advance its lead program, REN‑001, toward IND submission and a Phase I/II trial.