News this week of AbbVie's acquisition of Cerevel Therapeutics for $8.7B made a big wave in a small sector of the market although not enough to move the index. Although the deal has not closed, the clinical trials were very meaningful for Parkinson sufferers.
Another large acquisition hit this week with Vertex acquiring Alpine Immune Sciences for $4.9B ($65/share). This follows a Genmab acquisition of Profound Bio for $1.8B.
Capital Markets Highlights
Week Ending April 12, 2024:
Biotech: 6 Transactions (1 Follow-On, 4 PIPEs, and 1 RD) totaling just under $600M
Med Tech: No Current Week Transactions
2024 YTD
122 Biotech transactions totaling just under $21 Billion v. 2023 YTD: 42 Biotech transactions totaling just over $5 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: 70 US Transactions / 26 European Transactions
Med Tech: 38 US Transactions / 15 European Transactions
The rising 10 year yield to above 4.6% on geopolitical tensions pressured the S&P Select Biotech Index into the red for the year
