In the top M&A, Becton Dickinson agreed to acquire Edwards Lifesciences' critical care product group for $4.2bn in cash. Edwards first announced plans to spin off the unit in December 2023 to focus on its structural heart business and associated portfolio of repair and replacement valves for cardiovascular disease patients. Edwards’ critical care group includes advanced hemodynamic patient monitoring tools, predictive software, and sensors used to help inform clinician decision making. The acquisition aims to expand BD's portfolio of smart-connected products, with complementary monitoring technology, AI-enabled clinical decision tools, as well as an innovation pipeline. Financing reached $6.9bn in biopharma, $631m in device, and $196m in diagnostics.
Deals in Depth: June 2024
Four $1bn+ alliances were penned in June. In the top alliance by deal value, Ascidian Therapeutics signed an agreement with Roche for the discovery and development of RNA exon editing therapeutics targeting neurological diseases. Roche received exclusive rights to Ascidian's RNA exon editing technology for undisclosed targets. Ascidian will conduct discovery and certain preclinical activities in collaboration with Roche, which will be responsible for certain preclinical activities, and further clinical development, manufacturing, and commercialization. Ascidian will receive an up-front payment of $42m as well as up to $1.8bn in research, clinical, and commercial milestone payments, as well as sales royalties.
Candid conversations with C-suite leaders.
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<p>Executive Summary</p> <p>An interactive look at pharma, medtech and diagnostics deals made during August 2024. Data courtesy of Biomedtracker</p>
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Without a mega-merger like 2023’s Pfizer/Seagan takeout, M&A deals grew smaller during the first half of 2024, while volume rose. In alliance deals, H1 2024 activity somewhat mirrored activity from H1 2023.
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An interactive look at pharma, medtech and diagnostics deals made during July 2024. Data courtesy of Biomedtracker.
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