Deals Shaping The Medical Industry, November 2019
Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced October 2019.
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During Q3, biopharma company fundraising reached $13.3bn, mostly from follow-on public offerings, which again made up the most of those dollars. Despite numerous deals valued at $100m+, M&A activity was the lowest of the year. Many of the biggest partnership deals were centered around the inflammation/immune area.
Former Medivation CEO David Hung launched stealthy oncology start-up Nuvation with $275m in series A venture capital, while Tenaya's series B brought in $92m for small molecules as well as cell and gene therapies to treat cardiovascular diseases.
Sumitomo Dainippon Pharma paid $3bn up front in a wide-ranging deal involving multiple "vant" companies owned by Roivant. Lundbeck acquired what could be an important asset in the CGRP migraine market with the takeover of Alder for nearly $2bn in up-front and earn-out payments. Device financing surpassed pharma financing due to a $2bn debt offering by Alcon.