Astellas Pharma Acquires Propella Therapeutics

BioCryst Pharmaceuticals Acquires Astria Therapeutics

January 26, 2026

Biotechnology

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.

Merck Acquires Acceleron Pharma for $11.5 Billion

September 30, 2021

Biotechnology

Merck has entered into a definitive agreement to acquire Acceleron Pharma Inc. for $180 per share in cash, representing an approximate total equity value of $11.5 billion. The acquisition brings Acceleron's late-stage sotatercept program (for pulmonary arterial hypertension) and its REBLOZYL portfolio into Merck's cardiovascular pipeline, subject to tender offer completion and customary regulatory approvals.

Eli Lilly Acquires Protomer Technologies

July 14, 2021

Biotechnology

Eli Lilly and Company announced the acquisition of Protomer Technologies, a private biotechnology company based in Pasadena, California, to enhance Lilly's diabetes pipeline. The deal has potential value of over $1 billion contingent on development and commercial milestones; Lilly previously held a 14% stake and is acquiring the remaining shares to gain Protomer's glucose‑sensing insulin programs and protein‑engineering MEPS platform.

Astellas Pharma Acquires Xyphos Biosciences

December 26, 2019

Biotechnology

Astellas Pharma has acquired Xyphos Biosciences, gaining Xyphos' ACCEL convertible-CAR technology platform and immuno-oncology talent. The deal included $120 million paid at closing and potential milestone payments bringing the total transaction value to up to $665 million.

Sorrento Therapeutics Acquires ACEA Therapeutics

June 1, 2021

Biotechnology

Sorrento Therapeutics completed the acquisition of ACEA Therapeutics, making ACEA a wholly owned subsidiary and issuing Sorrento common stock plus contingent milestone and royalty payments. The deal adds multiple clinical- and preclinical-stage new chemical entities (including abivertinib) to Sorrento's oncology and immunotherapy pipeline and expands its development and manufacturing footprint in China and North America.

PharmaLogic Holdings Corp. Acquires Majority Stake in Agilera Pharma AS

April 10, 2025

Pharmaceuticals

PharmaLogic Holdings Corp. has agreed to acquire a majority stake in Norway-based Agilera Pharma AS from the Institute for Energy Technology (IFE), creating an expanded, integrated global CDMO focused on radiopharmaceutical therapeutics. The deal strengthens PharmaLogic's manufacturing, development, and distribution capabilities for radiopharmaceuticals and is expected to close in June 2025, pending customary approvals.