In December 2023, the healthcare industry reported 84 deals worth $38.6 billion, compared to the last 12-month average (December 2022 to November 2023) of 83 deals worth $19.2 billion.
Bristol-Myers Squibb Co, a biopharma company, acquiring Karuna Therapeutics, a biopharma company, for an equity value of approximately $14 billion; AbbVie Inc, to acquire Cerevel Therapeutics Holdings, a biopharma company, for a total equity value of approximately $8.7 billion; Bristol-Myers Squibb Co, to acquire RayzeBio, a radiopharma therapeutics company, for a total equity value of approximately $4.1 billion were the three major deals that contributed 69.3 per cent of the total deal value during December 2023.
|
Deal Date |
Acquirer (s) |
Target |
Deal Value ($M) |
|
22-Dec-23 |
Bristol-Myers Squibb Co (US) |
Karuna Therapeutics Inc (US) |
14,000.0 |
|
6-Dec-23 |
AbbVie Inc (US) |
Cerevel Therapeutics Holdings Inc (US) |
8,700.0 |
|
26-Dec-23 |
Bristol-Myers Squibb Co (US) |
RayzeBio Inc (US) |
4,100.0 |
|
3-Dec-23 |
F. Hoffmann-La Roche Ltd (Switzerland) |
Carmot Therapeutics Inc (US) |
3,100.0 |
|
26-Dec-23 |
AstraZeneca Plc (UK) |
Gracell Biotechnologies Inc (China) |
1,200.0 |
VC investments decreased by 29.2 per cent in Dec 2023, compared to Dec 2022
The healthcare industry reported 89 venture capital (VC) deals worth $2 billion in December 2023, compared to the last 12-month average (December 2022 to November 2023) of 121 deals worth $2.4 billion.
Bicara Therapeutics, a clinical-stage biotechnology company, raising $165 million in series C financing to support the continued advancement of its lead product candidate, BCA101, a first-in-class bifunctional EGFR/TGF-β inhibitor that is currently in clinical development for multiple cancer types; Avistone Biotechnology Co, an innovative anti-tumour drug company raising $141.3 million in series B financing to promote commercialisation of Wanbirui and R&D of anti-tumour drugs; Seismic Therapeutic, a biotechnology company, raising $121 million in series B round of financing to advance its two lead programs through clinical proof-of-mechanism, as well as enabling continued growth of its biologics pipeline and expansion of its IMPACT platform; were the three major VC deals reported in December 2023.
|
Deal Date |
Acquirer (s) |
Target |
Deal Value ($M) |
|
12-Dec-23 |
Aisling Capital; Braidwell; Deerfield Management Co LP; Fairmount Bank; The Rise Fund; TPG Capital LP; Undisclosed |
Bicara Therapeutics Inc (US) |
165.0 |
|
28-Dec-23 |
Bain Capital LP; Cathay Capital Company Limited; CMG-SDIC Capital Management Co Ltd; IDG Capital; Yanchuang Capital |
Avistone Biotechnology Co Ltd (China) |
141.3 |
|
4-Dec-23 |
Alexandria Venture Investments, LLC; Amgen Ventures LLC; Bessemer Venture Partners; Boxer Capital LLC; Codon Capital; Gaingels, LLC; GC&H Investments, LLC; GV Management Co LLC; Lightspeed Management Company, L.L.C; Polaris Partners LLC; Samsara BioCapital LLC; Timothy A. Springer; Undisclosed |
Seismic Therapeutic Inc (US) |
121.0 |
|
20-Dec-23 |
Enavate Sciences; Eventide Asset Management, LLC; Frazier Life Sciences; Monograph Capital Advisors (UK) LLP; Sanofi Ventures; Surveyor Capital Ltd; TPG; Velosity Capital |
Sudo Biosciences Inc (US) |
116.0 |
|
5-Dec-23 |
Ab Magnitude Ventures Group LLC; Alexandria Venture Investments, LLC; Ascenta Capital; BlackMars Capital GmbH; Catalio Capital Management LP; Colt Ventures; Creacion Ventures; Fidelity Management & Research Company; Foresite Capital Management LLC; General Catalyst Partners LLC; Global BioAccess Fund; HBM Healthcare Investments Ltd; KB Investment Co Ltd; OrbiMed Capital, LLC; Racing Beach Ventures LLC; SR One Ltd; T Rowe Price Associates Inc; The Healthcare Innovation Investment Fund LLC; Walleye Capital; Woodline Partners |
Odyssey Therapeutics Inc (US) |
101.0 |