Deal activity in pharma industry in April 2024

In April 2024, the healthcare industry reported 96 deals worth $13.4 billion, compared to the last 12-month (April 2023 to March 2024) average of 94 deals worth $20 billion.

Vertex Pharmaceuticals Inc, a biotechnology company, to acquire Alpine Immune Sciences Inc, a clinical stage biotechnology company, for a consideration of approximately $4.9 billion in cash;  Ono Pharmaceutical, an immuno-oncology company to acquire Deciphera Pharmaceuticals Inc, a biopharmaceutical company focused on discovering, developing, and commercializing important new medicines to improve the lives of people with cancer, for a total equity value of $2.4 billion;  Genmab AS, a biotechnology company to acquire ProfoundBio, a clinical-stage biotechnology company, for $1.8 billion in cash. These were the three major deals that contributed 67.7 per cent of the total deal value during April 2024.

Venture capital investments increased by 37.7 per cent in April 2024, compared to April 2023

The healthcare industry reported 112 venture capital (VC) deals worth $2.7 billion in April 2024, compared to the last 12-month (April 2023 to March 2024) average of 110 deals worth $2.5 billion.

Metsera Inc, a clinical-stage biopharmaceutical company, raising $290 million in a venture financing round to develop medicines for obesity and metabolic diseases; Obsidian Therapeutics Inc, a clinical-stage biotechnology company, raising $160.5 million in series C financing to advance its lead engineered tumor-infiltrating lymphocyte (TIL) program, OBX-115, in its ongoing trials for patients with melanoma and non-small cell lung cancer (NSCLC); and TORL Biotherapeutics LLC, a clinical-stage biotechnology company, raising $158 million in series B-2 financing to advance the clinical development of its novel antibody-drug conjugate (ADC) oncology pipeline. These were the three major VC deals reported in April 2024.