Novartis Acquires DTx Pharma

Novo Nordisk Acquires Dicerna Pharmaceuticals

November 18, 2021

Biotechnology

Novo Nordisk agreed to acquire Dicerna Pharmaceuticals for $38.25 per share, representing an enterprise equity value of approximately $3.3 billion, to expand its RNAi capabilities. The acquisition builds on a 2019 research collaboration and brings Dicerna's GalXC RNAi platform and pipeline into Novo Nordisk to accelerate development of RNAi therapeutics across cardiometabolic, liver and rare disease indications. The tender offer completed in December 2021 and Dicerna is now a wholly owned subsidiary of Novo Nordisk.

Novartis AG Acquires Chinook Therapeutics

June 12, 2023

Biotechnology

Novartis AG agreed to acquire Chinook Therapeutics for $40 per share in cash, with contingent value rights of up to $4 per share tied to regulatory milestones —bringing total consideration to as much as approximately $3.5 billion. The acquisition, approved by both companies' boards, brings Chinook's kidney-disease pipeline into Novartis' renal portfolio and was expected to close in the second half of 2023 subject to customary conditions.

Novartis Acquires Cadent Therapeutics

December 17, 2020

Biotechnology

Novartis has entered an agreement to acquire Cadent Therapeutics, a Cambridge, Massachusetts–based clinical‑stage neuroscience company, adding two clinical‑stage programs for schizophrenia and movement disorders plus the buyout of MIJ821 milestones/royalties. The deal (reported up to $770 million including milestones) strengthens Novartis' neuropsychiatry portfolio and is expected to close in Q1 2021 subject to customary conditions.

Takeda Acquires GammaDelta Therapeutics

October 27, 2021

Biotechnology

Takeda Pharmaceutical Company Limited has exercised its option to acquire GammaDelta Therapeutics Limited, obtaining the company's allogeneic Vδ1 γδ T cell therapy platforms and early-stage cell therapy programs. The acquisition, stemming from a multi-year collaboration begun in 2017, is for a pre-negotiated upfront payment plus potential milestone payments and is expected to close in Q1 of Takeda's fiscal 2022, subject to antitrust review.

AbbVie Acquires Capstan Therapeutics

August 19, 2025

Biotechnology

AbbVie has completed its acquisition of Capstan Therapeutics, adding Capstan's lead asset CPTX2309 — an in vivo targeted lipid nanoparticle (tLNP) anti‑CD19 CAR‑T candidate in Phase 1 for B cell‑mediated autoimmune diseases — and a proprietary tLNP RNA delivery platform. The deal strengthens AbbVie's immunology pipeline and expands its in vivo cell‑programming capabilities for RNA payload delivery.

Sanofi to Acquire DR-0201 Program from Dren Bio

March 20, 2025

Biotechnology

Sanofi has agreed to acquire DR-0201, a CD20-directed bispecific myeloid cell engager, through purchase of Dren Bio’s affiliate Dren-0201 for an upfront $600 million and up to $1.3 billion in milestone payments. The deal, aimed at broadening Sanofi’s immunology pipeline and advancing deep B-cell depletion approaches, is expected to close in Q2 2025 subject to regulatory approvals; Dren Bio will continue to operate independently to advance its broader pipeline.