Astellas Pharma Acquires Xyphos Biosciences

Biogen Acquires Apellis Pharmaceuticals

March 31, 2026

Healthcare Services

Biogen entered into a definitive agreement to acquire Apellis Pharmaceuticals in a ~$5.6 billion cash deal ($41 per share) that also includes contingent value rights (CVRs) tied to SYFOVRE sales performance. The transaction closed in May 2026 and made Apellis a wholly owned subsidiary of Biogen, adding commercial products EMPAVELI and SYFOVRE to Biogen’s immunology/rare disease portfolio and strengthening its expansion into nephrology.

AstraZeneca to Acquire EsoBiotec

March 18, 2025

Biotechnology

AstraZeneca has entered into a definitive agreement to acquire EsoBiotec, a biotechnology company developing in vivo cell therapies. The deal is valued at up to $1 billion on a cash and debt-free basis, with an initial $425 million payment upon closing plus up to $575 million in contingent milestone consideration. The transaction is expected to close in Q2 2025, subject to regulatory approvals.

Axol Bioscience Acquires Phenocell

October 21, 2024

Biotechnology

Axol Bioscience Ltd. has fully acquired Phenocell SAS, adding Phenocell’s iPSC-derived skin and retinal cell lines and custom bioassay services to Axol’s drug discovery product portfolio. The acquisition expands Axol’s capabilities into ophthalmology and dermatology (including AMD and cosmetics testing); financial terms were not disclosed.

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.

Merck & Co., Inc. Acquires VelosBio Inc.

November 5, 2020

Biotechnology

Merck & Co., Inc. will acquire all outstanding shares of clinical-stage biopharmaceutical company VelosBio for $2.75 billion in cash. The acquisition adds VelosBio's lead investigational antibody-drug conjugate VLS-101 and ROR1-directed pipeline assets to Merck's oncology portfolio and is expected to close by the end of 2020, subject to customary conditions.

Bayer AG Acquires Asklepios BioPharmaceutical (AskBio)

October 26, 2020

Biotechnology

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.