XOMA Royalty Corporation Completes Tender Offer and Acquisition of Generation Bio

Ligand Pharmaceuticals Acquires XOMA Royalty

April 27, 2026

Biotechnology

Ligand Pharmaceuticals entered into a definitive agreement to acquire XOMA Royalty for $39.00 per share in cash, valuing the deal at approximately $739 million. The transaction is structured to provide XOMA Royalty stockholders with a contingent value right (CVR) linked to a portion of net proceeds from certain pending litigation, and was expected to close in Q3 2026.

Genmab A/S Acquires Merus N.V. via Tender Offer

December 12, 2025

Biotechnology

Genmab A/S, through its wholly owned purchaser Genmab Holding II B.V., completed a tender offer to acquire outstanding common shares of Merus N.V. for $97.00 per share and commenced a subsequent offering period. The acquisition adds Merus' lead late‑stage oncology asset petosemtamab to Genmab's portfolio, expanding its antibody therapeutics pipeline and expected to be accretive to EBITDA by 2029.

XOMA Royalty Completes Acquisition of LAVA Therapeutics N.V.

November 21, 2025

Biotechnology

XOMA Royalty Corporation has completed its acquisition of all outstanding shares of LAVA Therapeutics N.V. for $1.04 in cash per share plus a non-transferrable contingent value right (CVR) that may pay additional amounts tied to LAVA’s partnered and unpartnered programs. The transaction included a corporate reorganization, with LAVA’s shares suspended prior to trading on November 21, 2025 and planned delisting from Nasdaq.

Quanterix Completes Acquisition of Akoya Biosciences

July 8, 2025

Healthcare Services

Quanterix completed its previously announced acquisition of Akoya Biosciences under the amended merger agreement, issuing about 7.8 million shares and paying about $20 million in cash in the aggregate to Akoya holders. The companies positioned the deal as creating an integrated platform for measuring biomarkers across the blood and tissue continuum and expanding addressable markets.

BerGenBio and Oncoinvent Announce Proposed Merger and Fully Underwritten Rights Issue

June 30, 2025

Biotechnology

BerGenBio ASA and Oncoinvent ASA have entered into a merger agreement to combine the two companies via a statutory merger, with BerGenBio as the acquiring entity. The transaction is supported by major shareholders and is expected to be completed around mid-September 2025, alongside a fully underwritten NOK 130 million rights issue to fund Oncoinvent’s clinical development through 2027.

Harmony Biosciences Acquires Zynerba Pharmaceuticals

August 14, 2023

Pharmaceuticals

Harmony Biosciences Holdings, Inc. has signed a definitive agreement to acquire Zynerba Pharmaceuticals, Inc. in a cash tender offer valued at $60 million at closing ($1.1059 per share) plus a non-tradeable contingent value right (CVR) with potential additional payments of up to $140 million, for total potential consideration of up to $200 million. The deal is expected to close in the fourth quarter of 2023, subject to customary closing conditions and tendering by at least a majority of Zynerba’s outstanding shares.