Deal value increased by 19.2 per cent in Jan 2024, compared to Jan 2023: GlobalData
VC investments increased by 11.2 per cent in Jan 2024, compared to Jan 2023
In January 2024, the healthcare industry reported 88 deals worth $13.8 billion, compared to the last 12-month average (January 2023 to December 2023) of 85 deals worth $19.3 billion.
Deal Date | Acquirer (s) | Target | Deal Value ($M) |
8-Jan-24 | Boston Scientific Corp (US) | Axonics Inc (US) | 3,700.0 |
8-Jan-24 | Johnson & Johnson (US) | Ambrx Biopharma Inc (US) | 2,000.0 |
23-Jan-24 | Sanofi (France) | Inhibrx Inc (US) | 1,700.0 |
9-Jan-24 | GSK plc (United Kingdom) | Aiolos Bio Inc (US) | 1,400.0 |
8-Jan-24 | Merck KGaA (Germany) | Harpoon Therapeutics Inc (US) | 680.0 |
Boston Scientific Corp., to acquire Axonics Inc, a medical technology company that is developing and commercialising novel products for adults with bladder and bowel dysfunction for an equity value of approximately $3.7 billion; Johnson & Johnson to acquire Ambrx Biopharma Inc, a clinical-stage biopharma company with a proprietary synthetic biology technology platform to design and develop next-generation antibody drug conjugates in an all-cash merger transaction for a total equity value of approximately $2 billion; Sanofi, a global healthcare company to acquire Inhibrx Inc, a clinical-stage biopharmaceutical company focused on developing a broad pipeline of novel biologic therapeutic candidates in oncology and orphan diseases for an equity value of approximately $1.7 billion. These were the three major deals that contributed 53.7 per cent of the total deal value during January 2024.
VC investments increased by 11.2 per cent in Jan 2024, compared to Jan 2023
The healthcare industry reported 135 venture capital (VC) deals worth $2.8 billion in January 2024, compared to the last 12-month average (January 2023 to December 2023) of 116 deals worth $2.3 billion.
Deal Date | Acquirer (s) | Target | Deal Value ($M) |
6-Jan-24 | Bayer AG; RTW Investments LP | Ji Xing Pharmaceuticals Ltd (China) | 162.0 |
30-Jan-24 | Alpha Wave Ventures; Angelini Ventures; Bristol-Myers Squibb Co; JDRF T1D Fund; Lumira Capital Investment Management Inc; Pfizer; Roche Venture Fund | Cour Pharmaceuticals Development Co Inc (US) | 105.0 |
24-Jan-24 | Cormorant Asset Management LLC; Lilly Asia ventures; NexTech Medical Ventures; Sirona Capital; Third Rock Ventures LLC | Synnovation Therapeutics Inc (US) | 102.0 |
5-Jan-24 | Bail Capital; EIR Pharmaceuticals LLC; Helena Laboratories Corp; Jetti Resources, LLC; Joe and Sandy Samberg Foundation; Satori Neuro; Steven & Alexandra Cohen Foundation Inc; True Ventures; Undisclosed; Unlikely Collaborators Foundation; Vine Ventures | Lykos Therapeutics (US) | 100.0 |
4-Jan-24 | BioTrack Capital; Blackbird Ventures Inc; Catalio Capital Management LP; CJNV BioVenture Inc; F Prime Capital; Forge Life Science LLC; Marshall Wace LLP; Novo Holdings AS; OrbiMed Associates LLC; Sofinnova Investments Inc | OnCusp Therapeutics Inc (US) | 100.0 |
Ji Xing Pharmaceuticals Ltd, a biopharmaceutical company raising $162 million in series D round of financing to strengthen its capabilities and develop and produce new drugs from preclinical stage to market launch; Cour Pharmaceuticals Development Co Inc, a clinical-stage biotechnology company, raising $105 million in series A round of financing to support the advancement of its Myasthenia Gravis (MG) and Type 1 Diabetes (T1D) product candidates into Phase 2a clinical trials; and Synnovation Therapeutics Inc, a precision oncology company, raising $102 million in series A round to fund the advancement of its clinical and preclinical pipeline, including SNV1521 and SNV4818, as well as additional programs. These were the three major VC deals reported in January 2024.
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