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Pharma industry reports 79 M&A deals in October 2022

The industry reported 102 Venture Capital (VC) deals worth $1.8 billion in October 2022, compared to the last 12-month average (October 2021 to September 2022) of 156 deals worth $3.6 billion

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The pharma industry reported 79 deals worth $7.9 billion in October 2022 as compared to the last 12-month average (October 2021 to September 2022) of 76 deals worth $10.4 billion, the latest report from GlobalData has notified.

Sumitovant Biopharma to acquire all of the remaining outstanding shares of Myovant Sciences for a consideration of $1.7 billion; Incyte Corp to acquire Villaris Therapeutics  for $1.4 billion; and Eli Lilly and Co to acquire Akouos for a consideration of approximately $1 billion, were the three major deals that contributed 53 per cent of the total deal value during October 2022, the report said.

It further mentioned that the industry reported 102 Venture Capital (VC) deals worth $1.8 billion in October 2022, compared to the last 12-month average (October 2021 to September 2022) of 156 deals worth $3.6 billion.

Odyssey Therapeutics raising $168 million in series B round of financing to advance its portfolio of precision immunomodulators and oncology medicines in support of its mission to develop innovative medicines to treat serious human diseases; Cellarity Inc raising $121 million in series C round of financing to strengthen its platform and advance its pipeline toward the clinic; and Neumora Therapeutics raising $112 million in series B round of financing to support advancement of its mission to revolutionise treatment of brain diseases, were the major VC deals reported in October 2022, the report concluded.