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  • Jonathan Poyer

Biotech Capital Markets Activity - 130 Biotech Transactions YTD compared to Just 45 Last Year. $22B vs. $6B. Healthy Numbers but the Index Lags

The S&P Select Biotechnology Index continues to trade well below the 50-day moving average although quite ahead of the 200-day moving average:

After peaking at 15.25% on 2/27/2024, the Index is now at -4.29% for the year. Momentum trading has put a lot of pressure on the sector.

Some M&A activity for the month of April:

Incyte acquired Escient Pharmaceuticals for $750M

Vertex acquired Alpine Immune Sciences for $4.9B

Genmab acquired Profound Bio for $1.8B

Week Ending April 19th, 2024:

Biotech: 8 Transactions (3 Follow-On, 4 PIPEs, and 1 RD) totaling just under $1.5 Billion

Med Tech: No Current Week Transactions

2024 YTD:

130 Biotech transactions totaling just over $22 Billion v. 2023 YTD: 45 Biotech transactions totaling just under $6 Billion

4 Med Tech transactions totaling just over $500 Million v. 2023 YTD: 6 Med Tech transactions totaling just over $400 Million

Private Transactions:

Biotech: 72 US Transactions / 29 European Transactions

Med Tech: 43 US Transactions / 15 European Transactions

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