Shots:
J&J has entered into a definitive agreement to acquire Halda Therapeutics, strengthening its oncology pipeline
As per the deal, J&J will acquire Halda for $3.05B in cash, with the deal treated as a business combination & expected to close in the coming months
Acquisition will add Halda’s Regulated Induced Proximity TArgeting Chimera (RIPTAC) platform…
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Day One has entered into a definitive merger agreement to acquire Mersana, delisting Mersana from the public market & making it a wholly owned subsidiary upon deal completion
As per the deal, Day One will acquire Mersana for $25/share plus a CVR of ~$30.25/share tied to certain clinical development, regulatory, & commercial milestones for…
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Sandoz agreed to acquire Just-Evotec Biologics EU SAS in Toulouse , including its manufacturing site to expand in-house continuous manufacturing for biosimilars, supporting its strategy to capture a projected ~$300B biosimilars market over the next decade
Sandoz will buy 100% of Just-Evotec Biologics SAS and secure a perpetual license for its continuous manufacturing platform…
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Metsera has declared Novo Nordisk’s unsolicited ~$9B acquisition proposal, valuing shares up to $77.75, as a “Superior Company Proposal” than its existing Pfizer Merger Agreement
The 2-step proposal incl. an initial $56.5/share cash payment & issuance of non-voting preferred stock for 50% of Metsera’s share capital, followed by a CVR of ~$21.25/share in cash…
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Thermo Fisher has entered into a definitive agreement to acquire Clario, enhancing its digital & data capabilities in clinical research
As per the deal, Thermo Fisher Scientific will acquire Clario for $8.875B in cash, with an additional $125M due in January 2027 & ~$400M in performance-based earnouts for 2026–2027; closing is expected mid-2026, after…
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Eli Lilly has entered into a definitive agreement to acquire Adverum Biotechnologies, incl. its asset Ixo-vec
As per the deal, Lilly will acquire Adverum for $3.56/share plus a CVR of ~$8.91 per share, tied to milestones: for ~$1.78 per CVR on Ixo-vec’s FDA approval within 7yrs. of closing & ~$7.13 per CVR upon achieving $1B…
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Novartis has agreed to acquire Avidity Biosciences, strengthening its neuroscience pipeline with Avidity’s Antibody Oligonucleotide Conjugates (AOCs) platform & 3 late-stage programs
As per the deal, Novartis will acquire Avidity for $72/share, valuing the company at ~$12B with an enterprise value of ~$11B; closing expected in H1’26
Before the merger, Avidity will transfer its early-stage precision…
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Alkermes has entered into a definitive agreement to acquire Avadel, incl. its asset Lumryz, accelerating its entry into the sleep medicine market
As per the deal, Alkermes will acquire Avadel for $18.5/share, along with one non-tradeable CVR of $1.5/share tied to Lumryz’s US FDA approval for idiopathic hypersomnia in adults by 2028 end, representing…
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Ipsen enters into a definitive share purchase agreement with ImCheck Therapeutics to acquire later's all issued and outstanding shares, including lead candidate ICT01, a P-I/II therapy for 1L AML pts ineligible for intensive CT
As per the deal, shareholders of ImCheck Therapeutics will receive €350M ($406.62M) in closing purchase price, with additional deferred payments…
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Boston Scientific has entered into a definitive agreement to acquire Nalu Medical, expanding its neuromodulation portfolio for chronic pain with the Nalu Neurostimulation System
As per the deal, Boston Scientific will acquire the remaining equity of Nalu Medical for ~$533M in cash, in which it has been a strategic investor since 2017; closing expected…

