Rallybio Corporation to Acquire Avenzo Therapeutics in $215M Financing Deal

NextCure and Avere Therapeutics Announce Merger and $320 Million Financing to Create Oral IL-23 Biotech

July 17, 2026

Biotechnology

NextCure and Avere Therapeutics have entered into a definitive all-stock merger that will create a publicly traded biotechnology company focused on developing once-weekly oral therapies for inflammatory diseases driven by interleukin-23. The transaction is supported by a concurrent $320 million private placement led by Fairmount and Hansoh Pharmaceutical Group to fund key clinical milestones through Phase 2b and into Phase 3 development.

Zymeworks Acquires Theravance Biopharma

June 29, 2026

Biotechnology

Zymeworks agreed to acquire all outstanding equity of Theravance Biopharma for $17 per share in cash, representing an announced transaction value of approximately $929 million. Theravance shareholders are also entitled to a contingent value right covering 80% of net proceeds from any future monetization of ampreloxetine; Zymeworks completed the acquisition on September 23, 2026.

Rallybio Corporation Acquires Candid Therapeutics

March 5, 2026

Biotechnology

Rallybio Corporation entered into a definitive agreement to acquire clinical-stage biotechnology company Candid Therapeutics in a merger transaction. The combined company will operate as Candid Therapeutics, Inc. and is expected to trade on Nasdaq under the ticker symbol CDRX, with the deal targeted to close in mid-2026 subject to customary conditions and approvals. Concurrently, Candid arranged an oversubscribed private financing of more than $505 million from a syndicate of healthcare institutional investors and mutual funds, expected to fund operations through 2030.

Battery Ventures to Take Private Enzo Biochem in All-Cash Transaction

August 28, 2025

Healthcare Services

Battery Ventures will acquire Enzo Biochem in an all-cash transaction for approximately $37 million, valuing Enzo at $0.70 per share. The deal was announced after Enzo’s board entered into an Agreement and Plan of Merger on June 23, 2025, and is expected to close in the third quarter of 2025 subject to customary closing conditions and shareholder approval.

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.

Zevra Therapeutics Acquires Acer Therapeutics

November 20, 2023

Pharmaceuticals

Zevra Therapeutics completed the acquisition of Acer Therapeutics in a stock-and-contingent-value-rights transaction, bringing the FDA-approved product OLPRUVA and clinical-stage candidate EDSIVO into Zevra's portfolio and transitioning Zevra to a commercial-stage rare disease company. The deal included Zevra's purchase of Acer's senior secured debt and issuance of approximately 2.96 million shares plus CVRs (up to $76 million), and was followed by a registered direct offering to a healthcare-focused investment fund.