From its all-time high in August 2021 the largest and most important index for the biotech industry also in Europe (NBI) lost around 25%. After a period of excessive capital inflows, money is much harder to come by these days. The answer can only be more creativity in structuring deals.
Pfizer strengthens its oncology portfolio by acquiring Seagen, the biotech specialist in antibody-drug conjugates technology.
BioNTech SE will pay £562m in cash to acquire its former partner InstaDeep Ltd. to expand its capabilities in AI-based drug discovery.
The European Commission has now recommended concrete steps that, while not yet final, would require Illumina to "swiftly" reverse its controversial $7.1bn acquisition of Grail.
AstraZeneca announced an agreement to acquire Neogene Therapeutics Inc. (Neogene), a global clinical-stage biotechnology company spezialised in next-generation T-cell receptor therapies (TCR-Ts) that offer a novel cell therapy approach for targeting cancer. The acquisition delivers an initial payment of $200m on deal closing, and a further up to $120m in both contingent milestones-based and non-contingent consideration.
Bone Therapeutics has merged with French inflammatory/autoimmune company Medsenic in a €40m deal and changed its name into BioSenic.