Bristol Myers Squibb Acquires Turning Point Therapeutics

Bristol Myers Squibb Acquires Karuna Therapeutics

December 22, 2023

Biotechnology

Bristol Myers Squibb has agreed to acquire Karuna Therapeutics for $330 per share in an all-cash transaction valued at approximately $14.0 billion (about $12.7 billion net of cash). The acquisition adds Karuna's lead neuroscience asset KarXT and its early-stage pipeline to BMS's neuroscience portfolio, accelerating capability and late-stage product expansion in psychiatric and neurodegenerative disorders.

Bristol Myers Squibb Acquires RayzeBio for Approximately $4.1 Billion

December 26, 2023

Biotechnology

Bristol Myers Squibb will acquire radiopharmaceutical developer RayzeBio in an all-cash tender offer of $62.50 per share, valuing RayzeBio at approximately $4.1 billion (about $3.6 billion net of cash). The acquisition brings RayzeBio's actinium-based radiopharmaceutical platform, a Phase 3 lead program (RYZ101) and in-house radiopharmaceutical manufacturing capabilities into Bristol Myers Squibb's oncology franchise to accelerate development and commercialization of targeted radiopharmaceutical therapeutics.

Turnstone Biologics Acquires Myst Therapeutics

January 20, 2021

Biotechnology

Turnstone Biologics Corp., a privately held clinical-stage biotechnology company, has acquired California-based Myst Therapeutics to integrate Myst’s tumor-infiltrating lymphocyte (TIL) selection and expansion platform into Turnstone’s oncolytic virus and cell therapy pipeline. The acquisition grants Turnstone full access to Myst’s R&D capabilities, development collaborations, and a TIL program with a lead candidate expected to enter the clinic soon; financial terms were not disclosed.

Merck Acquires Pandion Therapeutics

February 25, 2021

Biotechnology

Merck will acquire Pandion Therapeutics for $60 per share in cash, representing an approximate total equity value of $1.85 billion, via a tender offer and subsequent merger. Pandion is a clinical-stage biotechnology company focused on precision immune modulators (TALON platform) with lead candidate PT101 targeting regulatory T cells for autoimmune diseases; the transaction is expected to close in the first half of 2021 subject to customary conditions.

Spero Health Acquires My Turning Point

October 3, 2022

Healthcare Services

Spero Health, a PE-backed national outpatient addiction treatment provider, has acquired My Turning Point, a Kentucky-based outpatient addiction treatment program with four clinic locations (Stanford, Russell Springs, Nicholasville and Cynthiana). The deal expands Spero's network across Kentucky and increases local capacity for medication‑assisted and integrated behavioral health services.

Eli Lilly Acquires POINT Biopharma Global

December 27, 2023

Biotechnology

Eli Lilly and Company completed the acquisition of POINT Biopharma Global Inc. after a tender offer at $12.50 per share in cash, followed by a second-step merger and delisting of POINT's common stock. The transaction brings POINT's radioligand therapy pipeline and radiopharmaceutical capabilities into Lilly's oncology research and development efforts.