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Healthcare industry reported 97 deals worth $38.1 billion in Feb 2024

Deal value increased by 977 per cent in February 2024, compared to February 2023

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In February 2024, the healthcare industry reported 97 deals worth $38.1 billion, compared to the last 12-month (February 2023 to January 2024) average of 86 deals worth $19.1 billion.

Novo Holdings AS to acquire Catalent Inc, a provider of advanced delivery technologies and development solutions for drugs, biologics, and consumer health products, for an enterprise value of $16.5 billion was the big-ticket deal which contributed 43 per cent of the total deal value in February 2024. Other top deals during the period were Novo Nordisk AS to acquire three fill-finish manufacturing sites specialized in the sterile filling of drugs for an upfront payment of $11 billion; and Gilead Sciences Inc, a biopharmaceutical company, to acquire CymaBay Therapeutics Inc, a biopharmaceutical company focused on improving lives of people with liver and other chronic diseases that have high unmet medical need, for a total equity value of $4.3 billion.

VC investments increased by 49.9 per cent in February 2024, compared to February 2023

The healthcare industry reported 96 venture capital (VC) deals worth $2.7B in February 2024, compared to the last 12-month (February 2023 to January 2024) average of 115 deals worth $2.4 billion.

BioAge Labs Inc, a clinical-stage biotechnology company raising $170 million in series D round to accelerate development of obesity and metabolic disease therapeutics; Latigo Biotherapeutics Inc, a clinical-stage biotechnology company, raising $135 million in series A round of financing to support continued advancement of its portfolio of novel pain therapeutics and growth of the company and its platform; Neurona Therapeutics Inc, a clinical-stage biotherapeutics company raising $120M in a venture financing round to advance its pipeline of wholly-owned, off-the-shelf cell therapies for multiple indications, including its lead investigational candidate, NRTX-100, were the three major VC deals reported in February 2024.

Deal Date

Acquirer (s)

Target

Deal Value ($M)

13-Feb-24

Amgen Ventures LLC; Andreessen Horowitz LLC; Cormorant Asset Management LLC; Lilly Ventures Management Co LLC; Longitude Capital Management Co LLC; Orbimed Advisors LLC; Osage University Partners; Pivotal BioVenture Partners LLC; RA Capital Management LP; RTW Investments LP; Sands Capital Ventures LLC; Sofinnova Ventures Inc; SV Health Investors LLP

BioAge Labs Inc (US)

170.0

14-Feb-24

5AM Venture Management LLC; Corner Ventures; Foresite Capital Management LLC; Westlake Village BioPartners LLC

Latigo Biotherapeutics Inc (US)

135.0

8-Feb-24

Alexandria Venture Investments, LLC; Berkeley Frontier Fund; Cormorant Asset Management LLC; Euclidean Capital LLC; LYFE Capital; Schroders Capital; Sphera Biotech Master Fund LP; Spur Capital Partners, LLC; Symbiosis; The Column Group LLC; UC Investments; UCB Ventures; Viking Global Investors LP; Willett Advisors LLC; Ysios Capital Partners

Neurona Therapeutics Inc (US)

120.0

13-Feb-24

Ally Bridge Group; Janus Henderson Investors; LifeSci Venture Partners; Lilly Asia ventures; Logos Global Management LLC; LYFE Capital; Medicxi Ventures (UK) LLP; Nextech Invest Ltd; Octagon Capital Corp; Orbimed Advisors LLC; Piper Heartland Healthcare Capital, LLC; RA Capital Management LP; Surveyor Capital Ltd; T. Rowe Price Group Inc

ProfoundBio US Co (US)

112.0

29-Feb-24

Colt Ventures; Cormorant Asset Management LLC; H&D Asset Management Co.,Ltd.; Hercules Bioventures; OrbiMed Capital, LLC; Plaisance Capital Management LLC; Undisclosed; Vivo Capital LLC

BlossomHill Therapeutics Inc (US)

100.0

 

Source: GlobalData

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