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Tarsus Pharmaceuticals has entered into a definitive agreement to acquire Alkeus Pharmaceuticals, incl. its lead asset gildeuretinol (ALK-001), expanding Tarsus’ presence in retina care
As per the deal, Alkeus will receive ~$450M upfront ($270M cash + $180M in Tarsus stock priced at $61.38/share), plus ~$350M in regulatory & commercial milestones, & low single-digit tiered descending…
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Integer and KKR have entered into a definitive agreement under which an affiliate of investment funds managed by KKR will acquire Integer, delisting it from NYSE
As per the deal, KKR will acquire Integer in an all-cash transaction valued at $127 per share, representing the total enterprise value of ~$5.7B
As a KKR portfolio…
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J&J has entered strategic agreements & collaboration with Sail to advance its lead immune-mediated disease program & in vivo CAR-T platform, with the potential to expand the platform across additional therapeutic targets
As per the deal, Sail will receive initial payments of $785M, incl. a $465M equity investment, with additional contingent payments of ~$140M…
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argenx has entered into a definitive agreement to acquire Forte Biosciences, strengthening argenx’s innovative immunology portfolio with FB102
As per the deal, argenx will acquire Forte Biosciences for $77/share in cash, representing a total equity value of ~$2.2B; closing is expected in Q3’26
FB102 is an anti-CD122 antibody showing clinical PoC in vitiligo & celiac disease, with…
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Dassault Systèmes has entered into a definitive agreement to acquire ArisGlobal, creating the industry’s first unified intelligence platform
As per the deal, Dassault will acquire ArisGlobal for ~$1.8B at closing in cash & ~$200M in additional payments linked to multi-year AI-related revenue milestones; closing is expected in H2’26
Acquisition will advance Dassault Systèmes’ ambition to…
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Repligen has entered into a definitive agreement to acquire BioLife
Repligen will acquire BioLife for an enterprise value of ~$1.5B, with BioLife stockholders receiving $11.25 per share in cash plus 0.1442 Repligen shares, representing total consideration of $31/share, comprising 64% stock & 36% cash
Acquisition is expected to fast-track Repligen’s leadership & customer solutions…
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Tempus AI has entered into a definitive agreement to acquire Personalis, expanding Tempus' capabilities in minimal residual disease (MRD)
As per the deal, Personalis shareholders will receive $16.25 per share, valuing the company at an enterprise value of $1.5B, net of Tempus AI’s existing ownership interest; closing expected in late 2026 or early 2027…
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Samsung Biologics has launched an all-cash public tender offer to acquire 100% of the fully diluted share capital of PolyPeptide, expanding its capabilities beyond antibodies & ADCs to include peptide therapeutics
As per the deal, PolyPeptide will receive CHF 44.31 (~$54.8) in cash per share, representing an implied equity value of ~CHF 1.46B (~$1.8B);…
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Eli Lilly has entered into a definitive agreement to acquire AtaiBeckley, incl. its asset, BPL-003 (mebufotenin benzoate) & VLS-01 (buccal film formulation of DMT) to treat treatment-resistant depression; closing expected in Q3’26
Lilly will acquire AtaiBeckley for $6.75/share, plus a CVR of ~$2.5/share tied to development & regulatory milestones for BPL-003 & VLS-01. The…
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Vertex has entered into a definitive agreement to acquire Crinetics, incl. its assets Palsonify (paltusotine) & atumelnant, accelerating Vertex’s revenue growth and enhancing its long-term earnings profile
As per the deal, Vertex to acquire Crinetics for $85/share in cash, representing the total equity value of ~$10B, or ~$8.8B net of estimated cash acquired
Palsonify (QD, PO)…

