Deal value decreased by 16 per cent in May 2023, compared to May 2022

The healthcare industry reported 125 VC deals worth $2.7 billion in May 2023, compared to the last 12-month average (May 2022 to April 2023) of 138 deals worth $2.6 billion

In May 2023, the healthcare industry reported 80 deals worth $16.3 billion compared to the last 12-month average (May 2022 to April 2023) of 79 deals worth $17 billion.

A consortium led by Elliott Investment Management enters into an agreement to acquire Syneos Health Inc, an integrated biopharma solutions organisation for a consideration of approximately $7.1 billion; Advent International Corp and Warburg Pincus LLC to acquire Baxter Biopharma Solutions, a provider of sterile contract manufacturing solutions, for a consideration of approximately $4.25 billion; Swedish Orphan Biovitrum AB through its indirect wholly owned subsidiary, to acquire CTI BioPharma Corp, a commercial biopharma company for a consideration of approximately $1.7 billion were the three major deals that contributed 79.8 per cent of the total deal value during May 2023.

Deal Date

Acquirer (s)

Target

Deal Value ($M)

10-May-23

Elliott Investment Management (US); Patient Square Capital LP (US); Veritas Capital Limited (US)

Syneos Health Inc (US)

7,100.0

08-May-23

Advent International Corp (US); Warburg Pincus LLC (US)

Baxter Biopharma Solutions (US)

4,250.0

10-May-23

Swedish Orphan Biovitrum AB (Sweden)

CTI BioPharma Corp (US)

1,700.0

22-May-23

Ironwood Pharmaceuticals Inc (US)

VectivBio Holding AG (Switzerland)

1,000.0

15-May-23

Healthcare Royalty Management; Sagard Healthcare Royalty Part

Royalty Interest in HEMGENIX

400.0

VC investments increased by 15.4 per cent in May 2023, compared to May 2022

The healthcare industry reported 125 venture capital (VC) deals worth $2.7 billion in May 2023, compared to the last 12-month average (May 2022 to April 2023) of 138 deals worth $2.6 billion.

Deal Date

Acquirer (s)

Target

Deal Value ($M)

24-May-23

AyurMaya Capital Management Fu; EcoR1 Capital LLC; EDBI Pte Ltd; Emerson Collective LLC; F2 Ventures Limited (Inactive); Fidelity Management & Research; Invus Group LLC; Itochu Corp; Matrix Capital Management Fund; MPM Capital Management, LLC; Novo Nordisk AS; Redmile Group LLC; Samsara BioCapital LLC; SoftBank Vision Fund 2; Surveyor Capital Ltd; The Lee Family Office; Undisclosed; Vertex Ventures US; Woodline Partners

ElevateBio LLC (US)

401.0

23-May-23

F2 Ventures Limited (Inactive); MPM Capital Inc

ReNAgade Therapeutics Inc (US)

300.0

25-May-23

5AM Venture Management LLC; Deep Track Capital LP; Franklin Templeton L.L.C.; Frazier Life Sciences; Janus Henderson Investors; Millennium Management LLC; RA Capital Management LP; TCG Crossover; The Column Group LLC; Venrock Healthcare Capital Par; Willett Advisors LLC

Carmot Therapeutics Inc (US)

150.0

09-May-23

4BIO Ventures Management Ltd; Abingworth; Ajinomoto Co Inc; Cathay Capital; DCVC Bio; Deerfield Management Co LP; Digitalis Ventures; Petrichor, Inc.

Ascend Gene & Cell Therapies Ltd (United Kingdom)

117.5

16-May-23

Leaps by Bayer; Piper Heartland Healthcare Cap; RA Capital Management LP; Sectoral Asset Management Inc

Boundless Bio Inc (US)

100.0

 

ElevateBio LLC, a technology-driven company focused on powering the creation of life-transforming cell and gene therapies, raising $401 million in series D round to expand its cell and gene technology platforms; ReNAgade Therapeutics Inc, a developer of Ribonucleic acid (RNA) delivery technologies to unlock inaccessible cells for an array of addressable diseases, raising $300 million on in series A financing to Unlock the Limitless Potential of RNA Medicine; and Carmot Therapeutics Inc., a clinical-stage biotechnology company raising $150 million in series E financing to advance its pipeline of treatments for Obesity and Diabetes, were the three major VC deals reported in May 2023.

 

 

cell and gene therapiesGlobalDatahealthcare industrypharma dealsVC investments
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