Bristol Myers Squibb Acquires Karuna Therapeutics

Bristol Myers Squibb Acquires Turning Point Therapeutics

June 3, 2022

Biotechnology

Bristol Myers Squibb agreed to acquire clinical-stage precision oncology company Turning Point Therapeutics in an all-cash transaction valuing the company at approximately $4.1 billion ($76.00 per share). The deal adds Turning Point's lead asset, repotrectinib, and its precision oncology pipeline to BMS's oncology franchise and is expected to close in 2022 (tender offer completed and merger subsequently closed).

Bain Capital and Bristol Myers Squibb Launch NewCo with $300M to Develop Immunology Therapies

July 31, 2025

Biotechnology

Bristol Myers Squibb (BMS) and Bain Capital have created a new independent biopharmaceutical company (NewCo) to advance five licensed immunology assets, with Bain Capital committing $300 million and support from the Canada Pension Plan Investment Board. BMS licensed three clinical-stage and two Phase 1-ready programs to NewCo and will retain nearly a 20% equity stake while joining the new company's board.

Otsuka Pharmaceutical Acquires Jnana Therapeutics

August 1, 2024

Biotechnology

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.

Merck Acquires Caraway Therapeutics

November 21, 2023

Biotechnology

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.

Merck Acquires Prometheus Biosciences for $10.8 Billion

June 16, 2023

Biotechnology

Merck has agreed to acquire clinical-stage biotechnology company Prometheus Biosciences for $200.00 per share in cash, representing an approximate total equity value of $10.8 billion. The acquisition strengthens Merck's immunology pipeline by adding Prometheus' precision-medicine platform and lead candidate PRA023 (MK-7240) for inflammatory bowel disease and other immune-mediated conditions.

Boston Scientific Acquires Silk Road Medical for $27.50 per Share

June 18, 2024

Medical Devices

Boston Scientific Corporation agreed to acquire Silk Road Medical, Inc. for $27.50 per share in an all-cash transaction valuing Silk Road's equity at approximately $1.26 billion. The acquisition brings Silk Road's TransCarotid Artery Revascularization (TCAR) platform into Boston Scientific's vascular portfolio to expand treatment options for carotid artery disease and strengthen the company's vascular technology offerings.