Sesen Bio and Carisma Therapeutics Announce Definitive Merger Agreement

Candid Therapeutics to Merge With Rallybio (Creating Nasdaq-listed Candid Therapeutics)

March 5, 2026

Biotechnology

Clinical-stage biotechnology company Candid Therapeutics signed a merger agreement with Rallybio Corporation to create a combined company focused on developing T cell engager therapies for autoimmune diseases. The transaction is expected to close in mid-2026, pending customary approvals and conditions, and Candid also secured an oversubscribed private financing of more than $505 million led by healthcare institutional investors.

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.

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.

AstraZeneca to Acquire Gracell Biotechnologies (FasTCAR CAR-T) for Up to $1.2 Billion

December 27, 2023

Healthcare Services

AstraZeneca entered into a definitive agreement to acquire Gracell Biotechnologies, a global clinical-stage biopharmaceutical company focused on autologous cell therapies for cancer and autoimmune diseases. The deal is expected to close in the first quarter of 2024 and includes Gracell’s FasTCAR-enabled dual-targeting CAR-T therapy GC012F, with an upfront value of about $1.0 billion and total transaction value of up to about $1.2 billion including a contingent value right tied to a regulatory milestone.

Chroma Medicine and Nvelop Therapeutics Merge to Form nChroma Bio

December 11, 2024

Biotechnology

Chroma Medicine and Nvelop Therapeutics have merged to form nChroma Bio and completed an oversubscribed $75 million financing led by Cormorant Asset Management, ARCH Venture Partners, Atlas Venture and Newpath Partners. The combined company will advance a pipeline built on epigenetic editing and non-viral, programmable in vivo delivery, with lead candidate CRMA-1001 targeted at chronic hepatitis B and D and a planned clinical trial application submission in 2025.

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.