In July 2024, the pharma and healthcare industry reported 88 deals worth $11.1 billion, compared to the last 12-month (July 2023 to June 2024) average of 95 deals worth $18.7 billion
Eli Lilly and Company, to acquire Morphic Holding, a biopharmaceutical company developing a portfolio of oral integrin therapies for the treatment of serious chronic diseases for a consideration of approximately $3.2 billion; Mankind Pharma, to acquire Bharat Serums and Vaccines, a biopharmaceutical company that develops and manufactures pharmaceutical and injectable biological products, for an enterprise value of approximately $1.6 billion; Boehringer Ingelheim International GmbH, to acquire Nerio Therapeutics, a biotechnology company for a consideration of approximately $1.3 billion. These three major deals contributed 55 per cent of the total deal value during July 2024.
The lifesciences sector reported 73 venture capital (VC) deals worth $2.5 billion in July 2024, compared to the last 12 months (July 2023 to June 2024) an average of 105 deals worth $2.7 billion.
The three major VC deals reported in July 2024 were Cardurion Pharmaceuticals, a clinical-stage biotechnology company, raising $260 million in series B financing to advance Its pipeline of innovative medicines for cardiovascular diseases; Beacon Therapeutics, an ophthalmic gene therapy company, raising $170 million in a series B round to support the continued clinical development of AGTC-501 for XLRP and to generate Phase I/II clinical trial data for its dAMD programme; and Third Arc Bio, a biotech company, raising $165 million in series A financing to deliver superior biologics for solid tumours and inflammatory and; immunology diseases.