Sesen Bio and Carisma Therapeutics Announce Definitive Merger Agreement

Ensysce Biosciences Acquires Cy Biopharma

August 6, 2026

Biotechnology

Ensysce Biosciences completed its acquisition of Cy Biopharma in a stock-for-stock merger. Concurrently, Ensysce entered into a definitive private placement financing expected to raise about $21.5 million at initial close, plus an additional up to $38.6 million upon a clinical milestone, to fund development of Cy Biopharma’s lead program CY200 for complex regional pain syndrome.

Korsana Biosciences Merges with Cyclerion Therapeutics

April 1, 2026

Biotechnology

Korsana Biosciences and Cyclerion Therapeutics entered into an all-stock merger agreement, with the combined company to operate as Korsana Biosciences and focus on advancing Korsana’s neurodegenerative disease pipeline. The merger was completed on September 8, 2026; a concurrent $380 million private placement was completed immediately before closing to fund operations and clinical milestones.

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.

Bristol Myers Squibb to Acquire 2seventy bio in $5.00/share All-Cash Deal

March 25, 2025

Healthcare Services

2seventy bio entered into a definitive merger agreement to be acquired by Bristol Myers Squibb (BMS) for $5.00 per share in an all-cash transaction. The deal is expected to close in the second quarter of 2025, following a tender offer and a second-step merger.

Adaptimmune Therapeutics And TCR² Therapeutics To Merge (All-Stock)

March 6, 2023

Healthcare Services

Adaptimmune Therapeutics plc and TCR² Therapeutics Inc announced they have entered into a definitive agreement to merge in an all-stock transaction, combining to form a preeminent cell therapy company focused on solid tumors. The merged company will leverage complementary engineered T-cell technology platforms (SPEAR and TRuC) and is expected to extend its cash runway into 2026 following closing.

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.