Express Pharma

Healthcare industry reports deals worth US $8.2-bn in June’20: GlobalData

Two major deals contributed 47 per cent to the total deal value

0 397

In June 2020, the healthcare industry reported 87 deals worth US $8.2 billion as compared to last 12 months’ average (June 2019 to May 2020) of 64 deals worth US$17.7 billion. According to GlobalData, two big ticket deals — Novo Nordisk AS (Denmark), announcing to acquire Corvidia Therapeutics Inc (US), a clinical stage company focused on the research and development of transformative therapies for cardio-renal diseases from Sofinnova Partners for US$2.1 billion, and Gilead Sciences Inc (US), announcing to acquire a 49.9 per cent stake and exclusive option to purchase the remainder stake of Pionyr Immunotherapeutics Inc (US), a developer of cancer immunotherapies for US$275 million along with additional US$1.47 billion in option exercise fees and future milestone payments — together contributed 47 per cent to the total deal value in June 2020.

The healthcare industry reported 88 venture capital (VC) deals worth US$3.9 billion in June 2020, compared to the last 12-month average (June 2019 to May 2020) of 107 deals worth US$2.1 billion.

Sana Biotechnology Inc (US) raising US$700 million in financing, Everest Medicines (China) raising US$260 million in series C-2 financing, Orca Biosystems Inc (US) (Orca Bio) raising US$192 million in series D financing, are the major VC deals reported in June 2020.

- Advertisement -

Leave A Reply

Your email address will not be published.