Biotechnology Acquisitions in Massachusetts

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.

BioCryst Pharmaceuticals has completed its acquisition of Astria Therapeutics for an implied transaction value of approximately $700 million, financed with cash on hand and a ~$396.6 million facility provided by funds managed by Blackstone plus ~37.3 million BioCryst shares issued to Astria equity holders. The deal adds Astria's Phase 3 long-acting plasma kallikrein inhibitor navenibart to BioCryst's hereditary angioedema (HAE) portfolio and provides Astria's early-stage atopic dermatitis program (STAR0310) for which BioCryst will pursue strategic alternatives.

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.

Day One Biopharmaceuticals (Nasdaq: DAWN) completed its acquisition of Mersana Therapeutics (Nasdaq: MRSN) via a tender offer, purchasing all outstanding shares for $25 per share in cash plus one non-tradable contingent value right (CVR) per share for up to $30.25 in milestone payments (total consideration up to $55.25 per share). The deal adds Mersana’s clinical-stage ADC emiltatug ledadotin (Emi-Le) targeting adenoid cystic carcinoma (ACC) to Day One’s pipeline; Mersana will become a wholly owned subsidiary and its shares will be delisted from Nasdaq.

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.

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.

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.

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.

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.

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.

Novartis has completed the acquisition of Anthos Therapeutics, a Blackstone Life Sciences–backed clinical-stage biopharmaceutical company, in a deal valued at up to $3.1 billion, including $925 million paid upfront. The acquisition gives Novartis ownership of abelacimab, a Phase 3 factor XI inhibitor being developed to prevent stroke and cancer-associated thrombosis, with remaining milestone payments contingent on regulatory and commercial outcomes.

K2 VBI Equity Trust, LLC, an affiliate of K2 HealthVentures LLC, completed the purchase of VBI Vaccines Inc. pursuant to an amended acquisition agreement and the Company's creditor protection proceedings under Canada's CCAA. Following closing, VBI and certain subsidiaries became wholly owned by the purchaser, all common shares were redeemed and cancelled, and VBI's directors and executive officers were replaced by nominees of K2; the company is expected to cease being a reporting issuer in Canada and to deregister its U.S. public filings.

AbbVie has completed the $1.4 billion acquisition of Aliada Therapeutics, a RA Capital- and JJDC-backed biotech developing ALIA-1758, an anti‑pyroglutamate amyloid beta antibody that uses a blood‑brain‑barrier crossing technology for Alzheimer's disease. The deal brings Aliada's CNS drug‑delivery platform and lead Phase 1 asset into AbbVie's neuroscience pipeline and represents an exit for RA Capital's Raven incubator and other early investors.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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).

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.

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.

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.

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.

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.

Bristol Myers Squibb has agreed to acquire Karuna Therapeutics for $330 per share in an all-cash transaction valued at approximately $14.0 billion (about $12.7 billion net of cash). The acquisition adds Karuna's lead neuroscience asset KarXT and its early-stage pipeline to BMS's neuroscience portfolio, accelerating capability and late-stage product expansion in psychiatric and neurodegenerative disorders.

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.

AbbVie Inc. acquired Cerevel Therapeutics for $45.00 per share, valuing Cerevel at approximately $8.7 billion, to bolster AbbVie's neuroscience pipeline. The deal adds Cerevel's clinical-stage assets—including emraclidine, tavapadon, CVL-354 and darigabat—and is intended to expand AbbVie's capabilities and commercial potential in psychiatric and neurological disorders.

AbbVie has entered into a definitive agreement to acquire ImmunoGen for $31.26 per share in cash, valuing the company at approximately $10.1 billion. The deal gives AbbVie commercial rights to ELAHERE (mirvetuximab soravtansine-gynx) and ImmunoGen's ADC pipeline, expanding AbbVie's oncology capabilities; the transaction is expected to close in mid-2024 subject to shareholder and regulatory approvals.

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.

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.

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.

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.

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.

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.

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.

Eli Lilly agreed to acquire Akouos for approximately $487 million in cash plus contingent value rights that could increase the deal value to about $610 million. The acquisition gives Lilly Akouos's pipeline of AAV-based inner-ear gene therapies (including lead candidate AK-OTOF) to accelerate development of treatments for sensorineural hearing loss.

Novo Nordisk agreed to acquire clinical-stage biopharmaceutical company Forma Therapeutics for $20 per share in cash, valuing the deal at approximately $1.1 billion. The purchase adds Forma's lead candidate etavopivat and strengthens Novo Nordisk's pipeline in sickle cell disease and other rare blood disorders; the transaction is being effected via a tender offer and is expected to close in Q4 2022, subject to customary conditions and regulatory approvals.

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.

Ipsen has completed the acquisition of Epizyme, Inc., acquiring all outstanding shares for $1.45 per share plus a $1.00 contingent value right and bringing Epizyme's approved oncology drug Tazverik and preclinical/clinical pipeline into Ipsen. The deal adds epigenetics-focused assets including the approved EZH2 inhibitor tazemetostat and the SETD2 inhibitor candidate EZM0414 to Ipsen's oncology portfolio and integrates Epizyme employees into Ipsen's organization.

Gurnet Point Capital and Patient Square Capital completed a take-private acquisition of Radius Health, Inc. in a transaction valued at approximately $890 million (including debt), paying $10.00 per share in cash plus a $1.00 CVR tied to TYMLOS sales. Debt financing was provided by OrbiMed Advisors; following the transaction Radius will be delisted and will remain operating in the Boston, MA and Wayne, PA areas as a privately held biopharmaceutical company focused on bone health and neuro-orphan diseases.

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.

Innoviva, Inc. agreed to acquire all outstanding shares of Entasis Therapeutics it did not already own for $2.20 per share in cash, valuing Entasis' equity at approximately $113 million on a fully diluted basis. The transaction makes Entasis a wholly owned subsidiary of Innoviva and advances Innoviva's strategy to expand into differentiated late-stage biopharmaceutical assets, including Entasis' lead antibacterial candidate SUL-DUR.

OPKO Health acquired ModeX Therapeutics for $300 million in OPKO common stock, adding ModeX’s proprietary multi‑specific antibody platforms and vaccine candidates to OPKO’s pipeline. ModeX’s co‑founders and lead directors have joined OPKO’s executive team and board as OPKO aims to accelerate development of oncology and infectious‑disease programs and leverage diagnostic and therapeutic synergies.

Unchained Labs, a life-sciences tools company based in Pleasanton, California, acquired NanoView Biosciences to add exosome and viral-vector characterization technologies (ExoView and LentiView) to its product portfolio. The acquisition expands Unchained Labs' capabilities for gene therapy and biologics researchers by integrating NanoView's microchip-based interferometry and fluorescence platforms.