Bausch Health Acquires DURECT Corporation

Lafayette Instrument Acquires Alzet Osmotic Pumps from DURECT

November 25, 2024

Medical Devices

Lafayette Instrument, a Branford Castle Partners portfolio company, has acquired the ALZET Osmotic Pumps business from DURECT Corporation as an add-on to expand Lafayette’s life-science instrumentation offering. The acquisition strengthens Lafayette’s preclinical dosing product line and represents the fourth bolt-on for the company since Branford Castle’s 2021 investment; the deal includes senior and mezzanine debt financing.

Arcutis Biotherapeutics Acquires Ducentis BioTherapeutics Ltd.

September 7, 2022

Biotechnology

Arcutis Biotherapeutics (Nasdaq: ARQT) has entered into an agreement to acquire Ducentis BioTherapeutics Ltd., a privately held, preclinical biotechnology company developing the CD200R agonist DS-234 for atopic dermatitis. The deal includes approximately $16 million in cash and roughly $14 million in Arcutis stock up front, plus contingent development-and-commercial milestones, and is intended to accelerate Arcutis' biologics pipeline and strengthen its dermatology capabilities.

Sun Pharmaceutical Industries Acquires Concert Pharmaceuticals

January 19, 2023

Biotechnology

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.

Eli Lilly Acquires DICE Therapeutics

June 20, 2023

Biotechnology

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.

Ipsen Acquires Albireo Pharma

January 9, 2023

Biotechnology

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.

GSK Acquires BELLUS Health

April 18, 2023

Biotechnology

GSK plc agreed to acquire Canada-based late-stage biopharmaceutical company BELLUS Health for US$14.75 per share, representing an approximate total equity value of US$2.0 billion. The acquisition gives GSK access to camlipixant, a Phase III P2X3 antagonist for refractory chronic cough, and is expected to close in Q3 2023 subject to approvals.