AbbVie Acquires Cerevel Therapeutics for $8.7 Billion
AbbVie Inc. continues its shopping spree with yet another Boston-based biotechnology acquisition. The company announced that it will be acquiring Cerevel Therapeutics for approximately $8.7 billion. This transaction follows AbbVie’s acquisition of ImmunoGen Inc. for a total equity value of approximately $10.1 billion, announced on November 30, 2023. Founded in 2018, Cerevel Therapeutics researches treatments and therapeutics to treat neuroscience diseases. Cerevel Therapeutics has a diversified pipeline comprising five clinical-stage investigational therapies and several preclinical compounds with the potential to treat a range of neuroscience diseases, including schizophrenia,... Read More »
Roche Acquires Carmot Therapeutics for $2.7 Billion
Carmot Therapeutics Inc. announced on December 4 that it entered into a definitive merger agreement to be acquired by Roche Holding AG at a purchase price of $2.7 billion upfront and the potential for $400 million in milestone payments. Carmot Therapeutics is a biotechnology firm with injectable dual GLP-1/GIP receptor agonists and an oral GLP-1 drug in clinical development. The biotechnology company filed to go public in November 2023. Roche Holding AG, commonly known as Roche, operates in the pharmaceuticals and diagnostics businesses worldwide. The company’s headquarters are located in Basel, Switzerland. According to its 2022 annual report, Roche’s net sales... Read More »
AbbVie Acquires ImmunoGen for $10.1 Billion, Expanding Solid Tumor Portfolio
AbbVie Inc. and ImmunoGen, Inc. announced on November 30 a definitive agreement under which AbbVie will acquire ImmunoGen, a publicly traded biotechnology company focused on the development of antibody-drug conjugate (ADC) technology to treat cancer. Under the terms of the transaction, AbbVie will acquire all outstanding shares of ImmunoGen for $31.26 per share in cash. The transaction values ImmunoGen at a total equity value of approximately $10.1 billion. ImmunoGen’s flagship cancer therapy ELAHERE® (mirvetuximab soravtansine-gynx) is approved for the treatment of platinum-resistant ovarian cancer. According to its 2022 financial report, ImmunoGen had total revenues of... Read More »
Merck Buys Caraway Therapeutics
On November 21, Merck & Co., Inc. announced that it was acquiring Caraway Therapeutics, a biotechnology company based in Cambridge, Massachusetts. The addition of Caraway Therapeutics will broaden Merck’s preclinical pipeline with a selection of programs aimed at Parkinson’s disease and beyond. Merck, through a subsidiary, will buy Caraway for a total potential consideration of up to $610 million, including an undisclosed upfront payment as well as contingent milestone payments. The upfront payment will be expensed by Merck in the fourth quarter of 2023 and included in non-GAAP results. Caraway Therapeutics’ approach leverages genetic data and unique biological... Read More »
Bristol Myers Squibb Acquires Orum’s ORM-6151
On November 6, Bristol Myers Squibb (BMS) announced that it entered into an agreement to acquire Orum Therapeutics’ GSPT1 platform. Under this transaction, BMS will pay an upfront payment of $100 million, and Orum Therapeutics is eligible to receive milestone payments for a total deal value of $180 million. Orum Therapeutics’ GSPT1 platform uses unique Dual-Precision Targeted Protein Degradation (TPD) approach to build novel targeted protein degraders combined with the precise tumor cell delivery mechanisms of antibodies. This generates innovative, first-in-class, tumor-selective TPDs for the treatment of cancer. BMS is a global biopharmaceutical company whose... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
