Pharma deals value decreases by 74.5 per cent in March 2022

The latest report from GlobalData has revealed that the pharma industry reported 73 deals worth $4.9 billion in March 2022 as compared to the last 12-month average (March 2021 to February 2022) of 89 deals worth $17.6 billion.

AbbVie Inc, a biopharmaceutical company acquiring Syndesi Therapeutics SA, a clinical-stage biotechnology company for a consideration of up to $1 billion; Formycon AG, a biotechnology company acquiring biosimilar candidate FYB202 (ustekinumab) and 50 per cent stake in biosimilar candidate FYB201 (ranibizumab) from Athos KG for $713.1 million; and Fresenius Kabi AG, to acquire 55 per cent stake in Mabxience Holding SL, a biotech company for $551.2 million, were the three major deals that contributed 46 per cent of the total deal value during March 2022, said the report.

It further notified that the industry reported 163 Venture Capital (VC) deals worth $3.1 billion in March 2022, compared to the last 12-month average (March 2021 to February 2022) of 173 deals worth $5.3 billion.

LifeMine Therapeutics, a biopharmaceutical company, raising $175 million in series C round of financing to advance LifeMine’s proprietary, evolutionarily-derived genomic drug discovery platform, Avatar-Rx; Nutcracker Therapeutics, Inc, a biotech company, raising $167 million in series C financing to expand and advance its pipeline of mRNA medicines for cancer, in addition to further refining its RNA manufacturing platform and underlying technology; Shenzhen Shenxin Biotechnology, a biotech company, raising $120 million in series B round of financing to continue its research in mRNA-based drugs and explore untapped therapeutic areas, were the major VC deals reported in March 2022, added the report.