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Deals & financing

M&A, licensing, partnerships and financings: upfronts, milestones and pricing logic.

201 picksRelatedADCs & conjugatesAutoimmuneCardiometabolic

Latest picks

61–78 of 201
Oct 9Fri
  1. BioPharma Dive52

    In the hunt for reverse merger targets, Caribou could be prized game

    Caribou Biosciences, the CRISPR company co-founded by Jennifer Doudna, will stop developing its two off-the-shelf cell therapy programs for blood malignancies, citing a financing environment that CEO Rachel Haurwitz called increasingly challenging. The board has cleared management to evaluate a merger, acquisition or other transactions, with Wedbush Securities as exclusive financial advisor. Caribou ended the second quarter with $114 million in cash and securities, and Leerink analyst Daina Graybosch sees a reverse merger or a sale to Tang Capital as likely outcomes.

    Why it matters: A prominent CRISPR biotech with $114 million in cash is winding down and auctioning itself amid a wave of biotech reverse mergers.

  2. BioPharma Dive61

    Viatris boosts pain drug portfolio with $1.7B buyout of Pacira

    Viatris is buying Pacira BioSciences for $1.65 billion, paying $36.50 per share in cash, a 45% premium, to gain the non-opioid pain drugs Exparel and Zilretta for post-surgical and osteoarthritis knee pain. Pacira's two main products booked $692 million in sales in 2025, up about 4% from 2024. The deal is expected to close by the end of 2026, with generics for Exparel likely from early 2030 and Zilretta patents expiring in 2031.

    Why it matters: Large-cap pharma M&A in pain therapeutics, with near-term patent cliffs on the acquired products.

Oct 8Thu
  1. BioSpace66

    Big Pharma–backed Matchpoint scores $150M series B, advancing autoimmune asset

    Preclinical Matchpoint Therapeutics has raised a $150 million series B co-led by Nextech Invest and Norwest, with participation from Sanofi Ventures, Atlas Venture, Access Biotechnology and the T1D Fund. The money will advance MPT-062, an oral T cell modulator for autoimmune and inflammatory conditions, into human trials starting next year. Matchpoint also has a July 2025 deal with Novartis, which paid $60 million upfront for its ACE platform and could owe up to $1 billion in milestones plus royalties.

    Why it matters: A large series B funds a first-in-class oral autoimmune program before it reaches human trials, against a market trend favouring later-stage assets.

  2. STAT51

    STAT+: Roche inks drug discovery deal with Chinese biotech, focused on molecular glue medicines

    Roche has signed a discovery collaboration with Chinese startup Defand Therapeutics to develop molecular glue medicines for cancer and immune-driven diseases. Financial terms were not disclosed, but a source said the deal could be worth close to $1 billion in upfront fees and milestone payments tied to preclinical, clinical and regulatory goals. Defand will discover and develop multiple drugs under the partnership.

    Why it matters: A big pharma pays a Chinese biotech for discovery-stage molecular glue work rather than late-stage assets.

  3. WeChat72

    Novartis Licenses Abogen's ABO2203 in RNA Therapy Deal Worth Over $7.775 Billion

    Ai Bo Biological (Abogen Biosciences) has signed a licensing and option agreement with Novartis to advance RNA therapies. Novartis receives a global exclusive license to Abogen's lead pipeline candidate ABO2203 and options to exclusive licenses on further programs from Abogen's proprietary RNA platform, including mRNA-TCE work. Abogen will receive an upfront payment of $575 million, with the total deal value exceeding $7.775 billion.

    Why it matters: Large-value RNA therapy licensing deal between Abogen and Novartis around ABO2203.

Oct 7Wed
  1. Pharmaceutical Technology61

    CAR-T specialist Caribou culls pipeline and seeks exit deal

    Caribou Biosciences is discontinuing its two allogeneic CAR-T programmes, vispa-cel for relapsed or refractory B cell non-Hodgkin lymphoma and CB-011 for relapsed or refractory multiple myeloma, and will make substantial workforce cuts, having had 97 full-time employees as of February 2026. CEO Rachel Haurwitz said the financing environment for allogeneic CAR-T made raising capital impossible, as investors shift toward in vivo approaches. The board is now seeking exit routes, including a merger, acquisition, business combination or asset sale.

    Why it matters: CRISPR co-founder Jennifer Doudna's Caribou is winding down its pipeline and seeking a buyer, reflecting investor flight to in vivo CAR-T.

  2. BioSpace69

    Biotech VC Forbion raises record $2.6B to support 30 ‘high-potential’ companies

    Forbion has raised €2.3 billion ($2.6 billion) across two new funds, Growth Opportunities Fund IV and Ventures Fund VIII, its largest raise ever, to back some 30 high-potential drugmakers, from pre-clinical and early clinical-stage biotechs to private growth, crossover and public investments. Eli Lilly participated alongside KfW Capital, PGM and Kauffman Foundation. The Dutch firm now has approximately €7.5 billion ($8.42 billion) in assets under management across a portfolio of more than 140 companies.

    Why it matters: One of the largest life sciences VC raises in five years signals where biotech capital is flowing.

  3. WeChat70

    AbbVie Completes $10.9 Billion Acquisition of Apogee Therapeutics and its IL-13 Antibody zumilokibart

    AbbVie completed its acquisition of Apogee Therapeutics on September 3 in a deal with an equity value of about $10.9 billion. Apogee's lead asset is the late-stage IL-13 antibody zumilokibart, along with programmes targeting asthma and other diseases. AbbVie now advances these candidates through late-stage development.

    Why it matters: AbbVie pays about $10.9 billion to acquire a late-stage IL-13 antibody pipeline.

  4. BioSpace49

    Bayer commits $2.2B to build pharma manufacturing plant in Ohio

    Bayer will invest $2.2 billion in a drug substance and drug product manufacturing facility in New Albany, Ohio, serving U.S. and global markets in oncology, cardiovascular disease and renal care. One drug substance module is expected to become operational in 2031 and a second in 2034. Ohio officials expect about 600 permanent jobs plus about 1,500 construction roles, with JobsOhio investing up to $30 million in a training center opening next summer.

    Why it matters: A $2.2 billion U.S. reshoring investment by Bayer adds capacity in a tight biomanufacturing labor market.

  5. BioSpace67

    Doudna’s CAR T biotech Caribou to end R&D activities, slash staff as financing freezes up

    Caribou Biosciences, co-founded by CRISPR pioneer Jennifer Doudna, will end all R&D activities, halt its clinical trials and make substantial staff cuts after failing to secure financing for its allogeneic CAR-T programs, including vispa-cel for B cell non-Hodgkin lymphoma and CB-011 for multiple myeloma. The company, which had $113.8 million in cash as of June 30 and expects $15 million to $19 million in restructuring costs, will explore a merger, acquisition or other strategic transactions.

    Why it matters: Collapse of a well-funded allogeneic CAR-T developer signals how far financing has frozen in that field.

  6. BioCentury41

    RougeTx: Reattaching pericytes to stabilize vessels in HHT

    RougeTx, a Naarden, Netherlands-based spinout of Leiden University Medical Center, launched with a $58 million series A co-led by BioGeneration Ventures, Angelini Ventures and Kurma Partners to advance RTX-001 into the clinic. The oral small molecule, designed for once-daily dosing, aims to stabilize blood vessels by reattaching pericytes rather than suppressing angiogenesis in hereditary hemorrhagic telangiectasia. The company will now move RTX-001 toward clinical testing in HHT.

    Why it matters: Series A funds a first-in-class oral approach to a rare vascular disease with no such option named.

  7. BioPharma Dive60

    Forbion, a prominent biotech investor, raises $2.6B for a pair of venture funds

    Forbion, a Netherlands-based venture firm focused on life sciences, raised 2.3 billion euros ($2.6 billion) across two funds, Forbion Growth Opportunities IV and Forbion Ventures Fund VIII, its largest fundraise to date. The funds have capacity to invest in as many as 30 young companies; recent investments include Sling Therapeutics and Solstice Oncology. Backers include MN, PGGM, the Kauffman Foundation, KfW Capital and Eli Lilly, and Forbion now has 7.5 billion euros under management.

    Why it matters: Europe's largest life sciences venture fund raised its biggest sum yet while European biotech faces declining investment and clinical trial activity.

Oct 6Tue
  1. Pharmaceutical Technology68

    Shionogi bolsters rare disease portfolio with $2bn IntraBio buyout

    Shionogi will pay $2bn to acquire all outstanding shares of IntraBio, gaining worldwide IP and commercialisation rights to Aqneursa (levacetylleucine), a CNS small molecule approved in the US and EU for Niemann Pick disease type C and by the FDA for ataxia-telangiectasia, with an EU filing in A-T under review. IntraBio will become a wholly owned subsidiary of Shionogi Inc. The deal follows Shionogi's $2.5bn purchase of Tanabe Pharma's ALS drug Radicava earlier this year, and the company plans to use IntraBio's rare disease expertise across its pipeline.

    Why it matters: A $2bn acquisition adds an approved rare-disease CNS drug and signals Shionogi's rare disease push.

  2. BioPharma Dive66

    GE HealthCare to acquire Sofie Biosciences for $945M

    GE HealthCare has agreed to buy Sofie Biosciences for $945 million in cash to expand its U.S. radiopharmaceutical manufacturing and distribution. Sofie, a contract manufacturing organization with 15 U.S. CMO sites making PET radiopharmaceuticals, will join GE HealthCare's pharmaceutical diagnostics business PDx, with the deal expected to close in the first half of 2027. GE HealthCare also gains U.S. rights to FAPI-74, a pan-cancer PET radiotracer, and expects the acquisition to add to revenue growth and adjusted EPS in the first full year of ownership.

    Why it matters: Acquisition adds U.S. manufacturing capacity for time-sensitive F18 PET radiopharmaceuticals and rights to a pan-cancer radiotracer.

  3. Pharmaceutical Technology68

    Alector shares up after sealing $1.27bn Roche Parkinson’s disease license deal

    Roche has licensed global rights to Alector's AL050, a preclinical brain-penetrant engineered glucocerebrosidase enzyme replacement therapy for Parkinson's disease, for up to $1.27bn, including $100m upfront and up to $1.17bn in milestone payments. AL050 uses Alector's blood-brain barrier delivery platform, Alector Brain Carrier, and targets GCase deficiency, a driver of neurodegeneration. Roche's Genentech will handle development, manufacturing and commercialisation across all indications, while Alector retains ownership of the ABC platform.

    Why it matters: Large pharma licensing deal for a preclinical Parkinson's candidate with a novel brain-delivery platform.

  4. Pharmaceutical Technology68

    CSL and Alentis ink $1.5bn partnership to progress antifibrotic drug

    CSL has signed an exclusive collaboration with Swiss biotech Alentis Therapeutics to develop and commercialize lixudebart, a Claudin-1-targeting antifibrotic drug, across rare kidney and liver diseases. CSL pays $355 million upfront with up to $1.2 billion in commercial milestones, while Alentis retains 55% of global profits. CSL will fund the remainder of the Phase II RENAL trial in ANCA-associated vasculitis with rapidly progressive glomerulonephritis, a planned Phase III, and Phase II work in FSGS and primary sclerosing cholangitis.

    Why it matters: A $1.5 billion deal gives CSL rights to a Phase II antifibrotic across multiple rare kidney and liver indications.

  5. BioCentury72

    Building again in rare diseases, Shionogi pays $2B for IntraBio

    Shionogi will acquire privately held IntraBio for $2 billion to expand its rare disease portfolio, gaining rights to Aqneursa levacetylleucine (IB1001), a modified N-acetyl-L-leucine amino acid therapy targeting neurological dysfunction and degeneration. The drug is approved for two indications, including one first-in-disease approval. The deal awaits completion.

    Why it matters: $2 billion rare-disease acquisition adds an approved first-in-disease neurological therapy to Shionogi's portfolio.

  6. WeChat62

    Genentech Licenses Alector's Preclinical Parkinson's Therapy AL050 for $100 Million Upfront

    Genentech, a member of the Roche group, has licensed AL050, a preclinical Parkinson's disease candidate from biotech firm Alector. AL050 is an engineered glucocerebrosidase (GCase) enzyme replacement therapy. Under the deal, Genentech paid $100 million upfront with up to $1.17 billion in milestone payments, and Alector grants Genentech worldwide rights to develop and commercialize the program.

    Why it matters: Large upfront licensing deal for a preclinical Parkinson's asset between Roche's Genentech and Alector.

CBACBA Frontier Insights (CFI)Chinese Biopharmaceutical Association (CBA)www.cba-usa.org