Domestic players played more active role in deal making as compared to crossborder companies
The industry reported 35 deals worth $5 billion in May 2018, as compared to five months average of 57 dealsworth $15.7 billion. Domestic players played more active role in deal making as compared to crossborder companies. In the healthcare industry, 58 per cent of the acquisitions were reported by domestic companies in the month. Eli Lilly topped the chart with its proposed acquisition of ARMO Biosciences, an immuno-oncology company, for $1.6 billion. The acquisition is expected to strengthen the company’s clinical portfolio with ARMO’s lead immuno-oncology asset, pegilodecakin. Other big deals included Janssen Biotech’s $1 billion acquisition of BeneVir Biopharm, and another acquisition by Eli Lily in Canada.
The industry reported 72 venture capital (VC) deals worth $2 billion in May 2018, as compared to five months average of 74 deals worth $1.7 billion. Some of the major deals in the month included CStone Pharmaceuticals raising $260 million in series B financing round, Brii Biosciences raising $260 million, and Moderna Therapeutics raising $125 million.