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  • Jonathan Poyer

Vertex Announces Their Largest Deal Ever While AbbVie's News Around Neuroscience Drug Maker Makes More Waves





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



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