Shots:
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)…
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Novartis has entered into an agreement to acquire Myricx Bio, strengthening Novartis’ oncology pipeline & advancing next-generation targeted drug conjugates with novel payload mechanisms
Myricx is developing ADCs, using NMT inhibitor (NMTi) payloads designed to disrupt key cancer cell processes, with preclinical data showing broad activity across solid tumors, incl. TOPO-1-resistant models
As per…
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United Therapeutics has acquired Thymmune Therapeutics, incl. its lead asset THY-100, developed for the treatment of congenital athymia
Under the deal, United Therapeutics has acquired Thymmune for $140M upfront, with up to $160M in additional earn-out payments tied to clinical & regulatory milestones through 2031
THY-100 is a preclinical regenerative therapy for congenital athymia…
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Zymeworks has entered into a definitive agreement to acquire Theravance Biopharma, adding Yupelri, the only once-daily nebulized LAMA for COPD, to its partnered portfolio to strengthen long-term commercial cash flows
As per the deal, Zymeworks will acquire Theravance for ~$929M, with Theravance’s shareholders receiving $17 per share in cash; closing is expected in H2’26…
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Ipsen has entered into a definitive merger agreement to acquire Kartos Therapeutics, incl. its asset, navtemadlin, expanding its hemato-oncology late-stage pipeline
As per the deal, Ipsen will acquire Kartos Therapeutics through a fully-owned subsidiary for $450M upfront & ~$1.3B in milestones, incl. a significant regulatory approval milestone & sales-based milestones; closing is expected by…
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Merck KGaA has entered into a definitive agreement to acquire Bio-Techne, bringing together two companies with complementary portfolios spanning research tools, diagnostics, bioprocessing, and advanced therapeutics
As per the deal, Merck KGaA will acquire Bio-Techne for $73/share in cash, representing a total enterprise value of ~$11.3B; closing is expected by late 2026 or early…
What does it really take for a biotech company to become an attractive acquisition target?
In this episode of PharmaShots CXO Talks, Jared Kelly, CEO & Director of Oncolytics Biotech, shares an insider's perspective shaped by years of experience in biotech transactions, corporate strategy, and business development.
Before joining Oncolytics, Kelly served as Head of…
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AbbVie entered into a definitive agreement to acquire Apogee Therapeutics for $135.11 per share in cash, at a total equity value of approximately $10.9B. The transaction is expected to close in Q3’26, subject to shareholder and regulatory approvals
The acquisition strengthens AbbVie’s immunology portfolio by adding Apogee’s clinical-stage pipeline focused on inflammatory and immunological…

