Biotechnology Acquisitions in North Carolina

Continuity Biosciences, LLC has acquired Focal Medical, Inc., a North Carolina–based biopharmaceutical company developing iontophoresis-based, site-specific chemotherapy delivery for pancreatic cancer. The acquisition transfers Focal Medical's patent estate, device platform, equipment, licensing agreements and key personnel to Continuity as it expands its drug‑delivery and device-enabled therapeutics capabilities and advances the lead program toward clinical trials.

Vividion Therapeutics, a wholly owned subsidiary of Bayer AG, has acquired precision oncology platform company Tavros Therapeutics. The acquisition expands Vividion’s functional genomics and genomic screening capabilities, combining Tavros’s platform with Vividion’s chemoproteomics expertise to accelerate discovery of novel targets in oncology and immunology; financial terms were not disclosed.

Pharmacosmos A/S, through its U.S. affiliate Pharmacosmos Therapeutics Inc., agreed to acquire all outstanding shares of G1 Therapeutics, Inc. for $7.15 per share in cash, implying an approximate equity value of $405 million. The deal brings G1's FDA-approved oncology product COSELA into Pharmacosmos' commercial portfolio to accelerate patient access and expand Pharmacosmos' presence in oncology and supportive care.

Astellas Pharma, through its U.S. subsidiary Astellas US Holding, agreed to acquire privately held biopharmaceutical company Propella Therapeutics for approximately US$175 million. The acquisition gives Astellas ownership of PRL-02, a next-generation long-acting abiraterone prodrug for prostate cancer currently in Phase 1, and is expected to close within Astellas' fiscal year 2023 (ending March 31, 2024).

Solve Therapeutics, an oncology-focused biopharmaceutical company, has acquired Cereius, a Duke University spin-out that developed a site-specific radiolabeling chemistry platform for targeted radiodiagnostics and radiotherapeutics. The deal transfers Cereius’ platform and team into SolveTx to support development of targeted radionuclide therapeutics and companion diagnostics for oncology; Cereius shareholders will receive an undisclosed upfront payment plus potential milestone and royalty payments.

Donaldson Company, Inc. acquired Isolere Bio, an early-stage biotechnology developer of IsoTag reagents and affinity-phase separation processes for purification of viral vectors and other biopharmaceuticals. The deal expands Donaldson's Life Sciences capabilities and will allow Isolere's technology to be commercialized and reported within Donaldson's Life Sciences segment.

Incyte has entered into an agreement to acquire Villaris Therapeutics, obtaining exclusive global rights to auremolimab (VM6), an anti-IL-15Rβ monoclonal antibody targeting vitiligo and other autoimmune diseases. Villaris shareholders will receive $70 million upfront and may receive up to $1.36 billion in development and commercial milestone payments; the acquisition expands Incyte's inflammation/autoimmunity and dermatology portfolio.

Idera Pharmaceuticals completed an all-stock acquisition of Aceragen, a privately held biotech focused on rare pulmonary and rheumatic diseases, adding Aceragen's lead programs ACG-701 and ACG-801 to Idera's pipeline. The transaction was structured as a stock-for-stock exchange, includes management appointments from Aceragen, and is expected to provide pro forma cash runway into Q3 2023 while advancing Aceragen's clinical milestones.

Kriya Therapeutics acquired Warden Bio, obtaining exclusive rights to five preclinical AAV-mediated gene therapy programs targeting glycogen storage disorders and establishing a new Rare Disease Division. Warden Bio co‑founder Kunal Kishnani joins Kriya as President of the Rare Disease Division and Duke researchers associated with the programs will serve as scientific advisors.

Aceragen, Inc. acquired clinical-stage biopharmaceutical company Arrevus, Inc., adding Arrevus' lead oral anti-infective candidate ARV-1801 (renamed ACG-721) and several preclinical programs to Aceragen's rare-disease pipeline. The deal brings additional clinical and regulatory capabilities to Aceragen and is expected to be accretive as the company advances registrational and Phase 2/3 studies in cystic fibrosis and other orphan indications.

ElevateBio acquired all of AgBiome Delta, LLC's shares of Life Edit Therapeutics, bringing Life Edit's RNA-guided nuclease and base editor technologies into ElevateBio's cell and gene therapy technology platform. The acquisition expands ElevateBio's genome engineering capabilities to support its in vivo gene therapy pipeline (initial focus on neurologic conditions) and to offer enhanced gene-editing tools and manufacturing access to industry partners.

Bayer AG agreed to acquire U.S.-headquartered Asklepios BioPharmaceutical (AskBio), adding AskBio's AAV-based gene therapy platform, IP and CDMO manufacturing capabilities to Bayer’s emerging cell and gene therapy unit. Bayer will pay $2.0 billion upfront plus up to $2.0 billion in potential milestone payments; existing minority shareholders TPG Capital and Vida Ventures supported the transaction.

Asklepios BioPharmaceutical (AskBio) raised $235 million in new capital, with TPG Capital and Vida Ventures investing $225 million for a minority stake while AskBio’s founders and board co-invested $10 million. The funding will be used to accelerate clinical development and expand manufacturing capabilities, particularly for AskBio’s AAV gene therapy platform and pipeline.