Tracked deals
87
87 tracked deals across 2013-2026.
Biotechnology Buyers & Acquisitions in Massachusetts
Buyer mix
Strategic-led
80 strategic · 25 pe
Top trend
Volume peaked in 2022
15 tracked deals announced in 2022.
Primary Insight
What Stands Out
- Eli Lilly and Company appears multiple times, pursuing genetic medicine and in vivo CAR‑T-adjacent platform capabilities through acquisitions of Kelonia Therapeutics and Orna Therapeutics.
- Immunology and respiratory focus is explicit in AbbVie’s acquisition of Apogee Therapeutics, which targets IL‑13 for atopic dermatitis and includes a pipeline for asthma.
- Platform and capabilities are recurring drivers—e.g., Eclipsebio integrating AI/ML RNA design and mRNA manufacturing analytics after acquiring Terrain Bio, and Zydus Lifesciences building a U.S. CDMO subsidiary via the purchase of Agenus manufacturing facilities.
- Large deal value ranges show both therapeutic lift and capital intensity, from multi-billion transactions (e.g., AbbVie/Apogee, Eli Lilly/Kelonia) to clinical and development-stage funding commitments such as Blackstone Life Sciences’ $250M investment in Anagram Therapeutics.
| Buyer type | Examples from the page | Typical emphasis |
|---|---|---|
| Big pharma | AbbVie, Eli Lilly and Company | Portfolio expansion in specific disease areas |
| Life sciences investors | Blackstone Life Sciences, Ampersand Capital Partners, Keensight Capital | Clinical-stage support and growth initiatives |
| Platform builders | Eclipsebio, XOMA Royalty Corporation, Zydus Lifesciences | Enabling tech, manufacturing, and downstream commercialization |
| Specialty oncology/biotech | United Therapeutics, Chiesi Group | Targeted therapeutic pipeline additions |
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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 | 7 | Global pharmaceutical company that discovers, develops an... | Strategic |
| Ampersand Capital Partners | 4 | Australian private equity firm investing in and building ... | PE |
| Novartis | 3 | Global pharmaceutical company developing and commercializ... | Strategic |
| AbbVie | 2 | Global biopharmaceutical company focused on discovery, de... | Strategic |
| Bain Capital Life Sciences | 2 | Healthcare‑focused life sciences investment arm of Bain C... | PE |
| Ginkgo Bioworks | 2 | Horizontal cell-programming platform and synthetic biolog... | Strategic |
| KKR | 2 | Global investment firm providing alternative asset manage... | PE |
| Merck | 2 | Global, research-intensive biopharmaceutical company deve... | Strategic |
| ARCH Venture Partners | 1 | Early-stage venture capital firm focused on building and ... | PE |
| AbCellera Biologics Inc. | 1 | Technology company operating a centralized platform for n... | Strategic |
Acquisition Volume in Biotechnology in Massachusetts by Year
Last 9 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
August 31, 2026
- Buyer
- Eli Lilly and Company
- Target
- Merida Biosciences
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Eli Lilly and Company has agreed to acquire Merida Biosciences for up to $2.875 billion in cash, including an upfront payment and contingent milestone payments. The acquisition is intended to expand Lilly’s precision immunology platform for selectively targeting disease-causing antibodies across autoimmune and allergic conditions, including Graves’ disease and thyroid eye disease.
-
August 6, 2026
- Buyer
- Tarsus Pharmaceuticals, Inc.
- Target
- Alkeus Pharmaceuticals, Inc.
- Seller
- Alkeus stockholders
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Tarsus Pharmaceuticals entered into a definitive agreement to acquire privately held Alkeus Pharmaceuticals for $450 million upfront—$270 million in cash and $180 million in Tarsus stock—with up to $350 million in milestone payments and tiered royalties. The transaction closed on September 4, 2026, adding Alkeus’s Phase 3 retinal-disease candidate gildeuretinol (ALK-001) to Tarsus’s eye-care pipeline and expanding its presence in retina therapeutics.
-
July 3, 2026
- Buyer
- United Therapeutics
- Target
- Thymmune Therapeutics
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
United Therapeutics announced it has acquired Thymmune Therapeutics, a privately held preclinical-stage biotechnology company developing thymic regenerative cell therapies. The deal includes $140 million paid in cash upfront, plus potential earn-out payments of up to $160 million tied to clinical and regulatory milestones through 2031.
-
June 22, 2026
- Buyer
- AbbVie
- Target
- Apogee Therapeutics
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
AbbVie entered into a definitive agreement to acquire Apogee Therapeutics in an all-cash transaction valued at approximately $10.9 billion ($135.11 per share). The deal is intended to deepen AbbVie’s immunology portfolio and expand its clinical presence in respiratory diseases, with Apogee’s lead program zurilokibart (APG777) targeting IL-13 for atopic dermatitis and its pipeline including APG273 for asthma. Closing was expected in Q3 2026, subject to customary regulatory and shareholder approvals; AbbVie later announced completion on Sept. 3, 2026.
-
- Buyer
- Blackstone Life Sciences
- Target
- Anagram Therapeutics
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Growth capital
Blackstone Life Sciences (BXLS) announced a $250 million investment in clinical-stage biotech Anagram Therapeutics to advance and commercialize its oral recombinant enzyme replacement therapy, ANG003, for exocrine pancreatic insufficiency (EPI) related to cystic fibrosis and other disorders. The funding is intended to support development through regulatory approval and market launch, including planned mid-stage clinical trials.
-
April 29, 2026
- Buyer
- Chiesi Farmaceutici S.p.A., Chiesi Group
- Target
- KalVista Pharmaceuticals, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Chiesi Farmaceutici S.p.A./Chiesi Group entered into a definitive agreement to acquire KalVista Pharmaceuticals, Inc. for approximately $1.5 billion (about $1.9 billion at closing), paying $27.00 per share in cash via a tender offer and subsequent merger. The acquisition was completed on June 11, 2026, with KalVista becoming a wholly owned subsidiary and its stock ceasing to trade on Nasdaq.
-
April 20, 2026
- Buyer
- Eli Lilly and Company, Eli Lilly
- Target
- Kelonia Therapeutics
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Eli Lilly has announced a definitive agreement to acquire Kelonia Therapeutics, a clinical-stage biotechnology company developing in vivo CAR-T cell therapy via its proprietary gene delivery platform. The deal is valued at up to $7 billion, including a $3.25 billion upfront payment, with additional clinical, regulatory, and commercial milestone payments. Closing is expected in the second half of 2026, subject to customary approvals.
-
February 18, 2026
- Buyer
- Sensei Biotherapeutics, Inc.
- Target
- Faeth Therapeutics Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Sensei Biotherapeutics, Inc. announced it acquired Faeth Therapeutics Inc., bringing Faeth’s lead all-oral multi-node oncology asset PIKTOR into Sensei’s pipeline. Concurrently, Sensei entered into a definitive agreement for a $200 million private placement (Series B non-voting convertible preferred stock) with a syndicate of life sciences investors to fund key clinical milestones in endometrial and breast cancer.
-
- Buyer
- XOMA Royalty Corporation
- Target
- Generation Bio Co. (Generation Bio)
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
XOMA Royalty Corporation completed its previously announced tender offer to acquire all outstanding shares of Generation Bio common stock for $4.2913 per share in cash, plus one non-tradeable contingent value right (CVR). Following the tender offer, a subsidiary (XRA 7 Corp.) merged with and into Generation Bio, making Generation Bio a wholly owned subsidiary of XOMA Royalty.
-
February 9, 2026
- Buyer
- Eli Lilly and Company
- Target
- Orna Therapeutics
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Eli Lilly and Company has signed a definitive agreement to acquire Orna Therapeutics, valuing the deal at up to $2.4 billion. The acquisition is intended to expand Lilly’s genetic medicine and in vivo cell engineering capabilities, particularly for advancing in vivo CAR-T therapies using Orna’s circular RNA and lipid nanoparticle (LNP) platform.
-
January 29, 2026
- Buyer
- Eclipse Bioinnovations (Eclipsebio)
- Target
- Terrain Bio
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Eclipse Bioinnovations (Eclipsebio) has acquired Terrain Bio to integrate Terrain's AI/ML RNA design models and R&D-scale mRNA manufacturing analytics into Eclipsebio's sequencing-based validation platforms. The deal creates an end-to-end Design, Make, Test platform intended to accelerate RNA therapeutic development by connecting computational design directly to experimental feedback.
-
January 28, 2026
- Buyer
- XenoTherapeutics, Inc., Xeno Acquisition Corp.
- Target
- Repare Therapeutics Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
XenoTherapeutics, Inc. and Xeno Acquisition Corp. acquired all outstanding shares of Repare Therapeutics Inc. via a statutory plan of arrangement. The deal was approved by Repare shareholders in January 2026 and the acquisition was completed with a per-share cash payment of approximately US$2.20 plus contingent value rights.
-
January 16, 2026
- Buyer
- Zydus Lifesciences Limited, Zylidac Bio LLC
- Target
- Agenus Inc.
- Seller
- Agenus Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Zydus Lifesciences Limited has completed purchase agreements with Agenus Inc. to acquire Agenus' biologics manufacturing facilities and operations in Emeryville and Berkeley, California, and has established a U.S. CDMO subsidiary, Zylidac Bio LLC, to operate the assets. The deal includes exclusive manufacturing arrangements for Agenus' Phase 3 immuno-oncology candidates (botensilimab and balstilimab), exclusive commercialization rights for those assets in India and Sri Lanka, and an equity investment in Agenus via Zynext Ventures; regulatory approvals including CFIUS clearance were secured.
-
August 26, 2025
- Buyer
- Olaplex Holdings, Inc.
- Target
- Purvala Bioscience
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
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.
-
July 25, 2025
- Buyer
- Eli Lilly and Company
- Target
- Verve Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
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.
-
- Buyer
- Gedeon Richter Plc.
- Target
- Granata Bio
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Growth capital
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.
-
April 7, 2025
- Buyer
- Aerovate Therapeutics, Inc.
- Target
- Jade Biosciences, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Aerovate Therapeutics announced it expects to declare a cash dividend to its pre-merger stockholders in connection with its previously announced merger with Jade Biosciences. The cash dividend is expected to total $67.6 million to $69.6 million, with the closing expected no later than April 30, 2025 and subject to stockholder approvals and customary closing conditions.
-
- Buyer
- Epsilogen Ltd
- Target
- TigaTx, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Epsilogen Ltd has completed the acquisition of Boston-based TigaTx, Inc., making TigaTx a wholly owned subsidiary. The deal combines TigaTx's engineered IgA antibody assets with Epsilogen's IgE capabilities to build a pan-isotype oncology antibody company and broaden the combined clinical-stage pipeline.
-
April 2, 2025
- Buyer
- Artis BioSolutions, Oak HC/FT
- Target
- Landmark Bio
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Artis BioSolutions, a newly launched CDMO backed by Oak HC/FT, has acquired Landmark Bio to expand capabilities for the development and manufacturing of cell and gene therapies. Landmark Bio will continue to operate as a distinct entity from its Watertown, Massachusetts headquarters while leveraging Artis' funding and platform to scale process development, GMP manufacturing, and commercialization support.
-
January 3, 2025
- Buyer
- K2 VBI Equity Trust, LLC
- Target
- VBI Vaccines Inc., VBI Vaccines (Delaware) Inc., Variation Biotechnologies Inc.
- Seller
- VBI Vaccines Inc. (and certain subsidiaries through the CCAA restructuring process)
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
VBI Vaccines Inc. completed a transaction under its Canadian CCAA restructuring sale process with K2 VBI Equity Trust, LLC, an affiliate of K2 HealthVentures LLC, a secured creditor. Upon closing, VBI’s shares were redeemed and cancelled without consideration and VBI and certain subsidiaries emerged as wholly owned subsidiaries of the Purchaser.
-
December 11, 2024
- Buyer
- Cormorant Asset Management, ARCH Venture Partners, Atlas Venture, Newpath Partners, 5AM Ventures, DCVC Bio, F-Prime Capital, GV (Google Ventures), Janus Henderson Investors, Mubadala Capital, Omega Funds, Sixth Street, Sofinnova Partners, T. Rowe Price, Wellington Management, Alexandria Venture Investments, Casdin Capital, Menlo Ventures, Wilson Sonsini Goodrich & Rosati
- Target
- Chroma Medicine, Nvelop Therapeutics
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Growth capital
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.
-
November 13, 2024
- Buyer
- Atlantic Coastal Acquisition Corp. II, Celltrion
- Target
- Abpro Corporation
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
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.
-
- Buyer
- Vizgen, Inc.
- Target
- Ultivue, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
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.
-
September 5, 2024
- Buyer
- PD Theranostics (PDTx), Lucius Partners
- Target
- Ovation.io
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
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.
-
August 1, 2024
- Buyer
- Otsuka Pharmaceutical Co., Ltd., Otsuka America, Inc.
- Target
- Jnana Therapeutics Inc.
- Seller
- Shareholders of Jnana Therapeutics
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
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.
-
July 18, 2024
- Buyer
- Dechra Pharmaceuticals Limited
- Target
- Invetx Inc.
- Seller
- Novo Holdings A/S, F-Prime Capital, GV, Eight Roads, Anterra Capital, Casdin Capital, Tekla Capital Management
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
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.
-
July 9, 2024
- Buyer
- Illumina, Inc.
- Target
- Fluent BioSciences
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
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.
-
July 8, 2024
- Buyer
- Eli Lilly and Company
- Target
- Morphic Holding, Inc.
- Seller
- Morphic stockholders
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
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.
-
July 1, 2024
- Buyer
- Genezen, Ampersand Capital Partners
- Target
- uniQure commercial gene therapy manufacturing operations (Lexington, MA)
- Seller
- uniQure
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Divestiture
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.
-
June 27, 2024
- Buyer
- AbbVie
- Target
- Celsius Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
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).
-
May 23, 2024
- Buyer
- Orna Therapeutics
- Target
- ReNAgade Therapeutics
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Orna Therapeutics has acquired ReNAgade Therapeutics, combining Orna's circular RNA platform with ReNAgade's lipid nanoparticle (LNP) delivery systems and RNA editing capabilities. As part of the deal Amit D. Munshi (former ReNAgade CEO) will succeed Tom Barnes as Orna's CEO, and the combined company will pursue panCAR oncology and autoimmune programs, vaccine collaborations and genetic disease programs supported by substantial financing.
-
May 2, 2024
- Buyer
- Novartis
- Target
- Mariana Oncology
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Novartis will acquire Mariana Oncology for $1 billion upfront and up to $750 million in milestone payments, bringing Mariana's peptide-based radiopharmaceutical pipeline and manufacturing capabilities into Novartis. The deal adds radioligand therapeutic discovery, isotope supply chain and manufacturing know-how to Novartis to accelerate development and commercialization of targeted cancer therapies.
-
April 11, 2024
- Buyer
- Century Therapeutics, Bain Capital Life Sciences, Adage Capital Partners LP, Octagon Capital, Superstring Capital, Casdin Capital, Boxer Capital, Venrock Healthcare Capital Partners, DAFNA Capital Management, LLC
- Target
- Clade Therapeutics
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Century Therapeutics agreed to acquire privately held Clade Therapeutics for approximately $35 million in upfront consideration (plus a potential $10 million milestone) to expand its iPSC-derived cell therapy pipeline and next-generation Allo-EvasionTM platform. Concurrently, Century completed a roughly $60 million private placement led by Bain Capital Life Sciences and several institutional investors to support expanded autoimmune development of its lead program CNTY-101 and extend cash runway into 2026.
-
February 28, 2024
- Buyer
- Ginkgo Bioworks
- Target
- Proof Diagnostics
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Ginkgo Bioworks has acquired Proof Diagnostics to integrate Proof's OMEGA nuclease libraries and portable diagnostic technologies into Ginkgo’s gene therapy and genetic medicines platform. The deal expands Ginkgo’s gene editing toolkit and diagnostic capabilities to better serve customers developing programmable medicines and rapid detection systems.
-
December 22, 2023
- Buyer
- Concentra Biosciences, LLC, Tang Capital Partners, LP
- Target
- Theseus Pharmaceuticals, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Concentra Biosciences, a vehicle controlled by Tang Capital Partners, has entered into a definitive merger agreement to acquire clinical-stage biotech Theseus Pharmaceuticals for $3.90–$4.05 per share in cash plus a contingent value right tied to future program licensing/disposition proceeds. The transaction will be effected by a tender offer and is expected to close in February 2024, subject to customary conditions and the availability of required cash at closing.
-
December 14, 2023
- Buyer
- Certara, Inc.
- Target
- Applied BioMath
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Certara, Inc. has acquired Applied BioMath to expand its biosimulation capabilities and establish the life sciences industry's largest quantitative systems pharmacology (QSP) center of excellence. The acquisition combines Certara's biosimulation and AI portfolios with Applied BioMath's proprietary QSP platform and modeling expertise to industrialize QSP and accelerate drug development.
-
November 21, 2023
- Buyer
- Merck (MSD)
- Target
- Caraway Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Merck (MSD) will acquire Caraway Therapeutics, a Cambridge, Massachusetts–based preclinical biopharmaceutical company, for up to $610 million in potential consideration, including an undisclosed upfront payment and contingent milestone payments. The acquisition is intended to strengthen Merck’s research pipeline and capabilities in developing small-molecule treatments for genetically defined neurodegenerative and rare diseases.
-
November 2, 2023
- Buyer
- Ampersand Capital Partners
- Target
- Genezen
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Growth capital
Genezen closed an $18.5 million follow-on growth equity financing led by Ampersand Capital Partners to accelerate expansion of its viral vector development and GMP manufacturing capabilities. The capital will support build-out and technology investments at Genezen's facilities (including the Fishers, Indiana GMP viral vector site) to scale retroviral, lentiviral and AAV vector production and support additional customer programs.
-
June 29, 2023
- Buyer
- Eli Lilly and Company
- Target
- Sigilon Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Eli Lilly agreed to acquire Sigilon Therapeutics in a cash tender offer valuing the biotech at roughly $34.6 million up front plus contingent value rights that could increase total consideration to about $309.6 million. The acquisition brings Sigilon's encapsulated cell therapy platform (including SIG-002 for type 1 diabetes) into Lilly's diabetes and cell-therapy R&D efforts to accelerate development and potential commercialization.
-
June 22, 2023
- Buyer
- Aeglea BioTherapeutics, Inc.
- Target
- Spyre Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Aeglea BioTherapeutics completed a stock-for-stock acquisition of Spyre Therapeutics, a privately held biotechnology company advancing antibody therapeutics for inflammatory bowel disease (IBD). Concurrent with the acquisition Aeglea announced a $210 million PIPE led by Fairmount Funds to advance Spyre’s pipeline (lead programs SPY001 and SPY002) into clinical studies and fund operations into 2026.
-
April 20, 2023
- Buyer
- Biosynth, KKR, Ampersand Capital Partners
- Target
- Fitzgerald Industries (Benen Trading Ltd and Fitzgerald Industries International, Inc)
- Seller
- Trinity Biotech plc
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Divestiture
Biosynth (backed by KKR and Ampersand Capital Partners) has agreed to acquire Trinity Biotech’s Fitzgerald life sciences supply business — comprising Benen Trading Ltd and Fitzgerald Industries International, Inc — for approximately $30 million in cash. Trinity Biotech pursued the divestiture to focus on diabetes care and decentralized diagnostics while reducing net debt; the Fitzgerald business generated about $12 million of revenue in 2022 and will be integrated into Biosynth’s global reagents and biologics platform.
-
January 19, 2023
- Buyer
- Sun Pharmaceutical Industries Limited
- Target
- Concert Pharmaceuticals, Inc.
- Seller
- Concert Pharmaceuticals stockholders
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Sun Pharmaceutical Industries Limited agreed to acquire all outstanding shares of Concert Pharmaceuticals, Inc. via a tender offer for $8.00 per share (approximately $576 million equity value) plus a non-tradeable contingent value right (CVR) of up to $3.50 per share tied to deuruxolitinib sales milestones. The deal adds Concert's late-stage JAK1/2 inhibitor deuruxolitinib for Alopecia Areata to Sun Pharma's global dermatology franchise; Sun Pharma intends to pursue an NDA submission in H1 2023 and expected close was Q1 2023, subject to tender conditions and regulatory approvals.
-
January 9, 2023
- Buyer
- Ipsen
- Target
- Albireo Pharma, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Ipsen has agreed to acquire Albireo Pharma in a cash tender offer of $42.00 per share plus a contingent value right (CVR) tied to FDA approval in biliary atresia, in a transaction intended to expand Ipsen's Rare Disease portfolio. The acquisition brings Albireo's approved pediatric liver drug Bylvay (odevixibat) and a pipeline of bile-acid modulators into Ipsen's global R&D and commercial capabilities.
-
November 16, 2022
- Buyer
- Alexion, AstraZeneca Rare Disease
- Target
- LogicBio Therapeutics, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Alexion, AstraZeneca Rare Disease completed its acquisition of LogicBio Therapeutics, a Lexington, Massachusetts-based genomic medicine company. The deal was implemented through a cash tender offer and a merger of an Alexion subsidiary with LogicBio, with LogicBio becoming a wholly owned subsidiary of Alexion.
-
September 21, 2022
- Buyer
- Sesen Bio, Inc., Carisma Therapeutics Inc.
- Target
- Sesen Bio, Inc., Carisma Therapeutics Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Sesen Bio, Inc. and Carisma Therapeutics Inc. have entered into a definitive merger agreement in an all-stock transaction to combine their businesses and create a well-funded, clinical-stage biotechnology company focused on engineered macrophage cell therapies for cancer and other serious disorders. The combined company is expected to trade on Nasdaq as Carisma Therapeutics Inc. under the ticker “CARM” and have approximately $180 million in cash at close, including $30 million from a concurrent financing by Carisma.
-
- Buyer
- Syros Pharmaceuticals, Inc.
- Target
- Tyme Technologies, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Syros Pharmaceuticals (NASDAQ: SYRS) closed its merger with Tyme Technologies, acquiring TYME’s pipeline assets and net cash at closing. The transaction included a concurrent oversubscribed $130 million private investment in public equity (PIPE), and the combined company trades on Nasdaq under the SYRS ticker.
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August 16, 2022
- Buyer
- GSK plc
- Target
- Affinivax, Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
GSK plc acquired clinical-stage biopharmaceutical company Affinivax, Inc., paying $2.1 billion upfront and up to $1.2 billion in potential development milestones to gain the MAPS vaccine platform and a 24‑valent pneumococcal vaccine candidate (AFX3772) in development. The acquisition (100% of outstanding shares) expands GSK's vaccines R&D capabilities and pipeline, with AFX3772 in phase II and preparations underway for phase III.
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July 25, 2022
- Buyer
- Ginkgo Bioworks (Ginkgo Bioworks, Inc.)
- Target
- Zymergen
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Ginkgo Bioworks (NYSE: DNA) has entered into a definitive agreement to acquire Zymergen (Nasdaq: ZY) in an all-stock transaction valued at approximately $300 million market capitalization. The deal is expected to close in the first quarter of 2023, pending Zymergen stockholder approval, regulatory approvals, and other customary closing conditions.
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June 6, 2022
- Buyer
- Ginkgo Bioworks
- Target
- Bitome
- Seller
- Bitome
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Divestiture
Ginkgo Bioworks acquired certain assets from Bitome, a Boston-based developer of real-time metabolite monitoring technology, to integrate continuous metabolite monitoring into its cell engineering platform. The acquisition is intended to accelerate design-build-test-learn cycles and bioprocess optimization across Ginkgo’s portfolio of cell programs by providing real-time metabolic data and ML-driven insights.
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May 23, 2022
- Buyer
- Innoviva, Inc.
- Target
- Entasis Therapeutics Holdings Inc.
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Type
- Buyout
Innoviva agreed to acquire the remaining shares of Entasis Therapeutics it did not already own for $2.20 per share in cash, valuing Entasis equity at about $113 million on a fully diluted basis. Innoviva completed the acquisition in July 2022, making Entasis a wholly owned subsidiary.
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Frequently Asked Questions
Which buyers recur in Massachusetts biotechnology acquisitions?
Recurring names on the page include Eli Lilly and Company, AbbVie, Thermo Fisher Scientific, Ampersand Capital Partners, Keensight Capital, Chiesi Group, and investors such as Blackstone Life Sciences.
What kinds of biotechnology capabilities show up most often?
The page highlights capability themes such as immunology and respiratory therapeutics, in vivo and cell-therapy platforms (including CAR‑T approaches), RNA and gene-delivery technologies, and enabling infrastructure like manufacturing assets and design-to-validation platforms.
Do these deals rely on cash-only terms?
Not always. Several transactions are structured with upfront cash plus potential earn-out payments tied to clinical, regulatory, or commercial milestones, and some use contingent value rights (CVRs) alongside cash considerations.
Are Massachusetts deals limited to therapeutics companies?
No. The page includes acquisitions that integrate manufacturing facilities and operations (supporting CDMO activity) and platform-focused deals that combine computational or design models with experimental validation and R&D manufacturing analytics.
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