Deals
Bought PolyPeptide for $1.8B in Samsung's Peptide Push
Samsung Biologics pays just a 6% premium for PolyPeptide, its second buyout in eight months and Korea's largest-ever biopharma deal.
Masthead · Deals & M&A Writer
Diana Kowalski
San Francisco · Joined January 2026
Ex-Morgan Stanley healthcare banker. Tracks every pharma deal over $50M. Last year: 180+ deals, $290B combined. San Francisco.
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Stories by Diana
Deals
BlossomHill Files for IPO to Chase AstraZeneca
BlossomHill is asking public markets for $100M to challenge AstraZeneca's $7.25B-a-year Tagrisso, backed by nothing past phase 1/2 data.
Deals
Bought Comerica for $10.9B, Fifth Third Nears $850M Win
Comerica's board took a 20% premium in October. Now Fifth Third's $850 million synergy bet gets tested over the Labor Day weekend conversion.
Deals
Lakestar Closes $300M Resilience Fund for EU Defense
Lakestar closed a $300 million fund betting Brussels' sovereignty anxiety turns into procurement revenue for Helsing and Auterion.
Deals
Cut 87% of Arcellx Staff After $7.8B Gilead Buy
Gilead paid $7.8B for Arcellx's CAR-T pipeline, then eliminated 192 of its 220 employees, 87% of the entire staff, within weeks of closing.
Deals
Buys Carolina Bank & Trust for $166M
First Bank is paying $166 million for a privately held SC lender with no public price to set a premium. It adds $831M in assets and 14 branches.
Deals
Attovia Files IPO to Chase Nemluvio's $4B Market
Attovia wants public money for a drug that hasn't started phase 2, betting it can unseat a franchise Galderma just repriced to $4B.
Deals
Buys TriCo: First Hawaiian's $2B Stock Deal
First Hawaiian is paying $63.12 a share in stock for TriCo, its second attempt at a mainland network since losing one to BMO in 2023.
Deals
Spero Pays Up to $1.1B for Innovent's CD40L Drug
Spero can't match AbbVie's $10.9B checkbook, so it mortgaged an FDA-approved antibiotic's royalties to fund a $1.1B autoimmune bet instead.
Deals
AstraZeneca Pays $1.5B for Dizal's Zegfrovy
AstraZeneca pays $1.5B for Dizal's Zegfrovy, skips the Greater China carve-out, and bets on frontline data it hasn't won approval for yet.
Deals
Apnimed Files for IPO After $100M Shionogi Exit
Apnimed banked $100M from Shionogi in March, then filed a blank-check IPO to fund its sleep apnea pill still awaiting an FDA verdict.
Deals
Brockman Grabs OpenAI's No. 2 Job as Simo Exits
OpenAI won't replace Fidji Simo. Greg Brockman just inherited her job, her budget line, and the products that actually make OpenAI money.
Deals
Nu Clears CNBV Hurdle, Gets 30 Days to Convert
Nu spent six years chasing a Mexican bank charter, nine months behind Revolut. The 30-day countdown to full bank status starts now.
Deals
Oregon Moves to Delay Paramount's $110B WBD Deal
Oregon says Paramount is racing to close its $110B Warner Bros. Discovery buy before regulators can finish digging through the records.
Deals
House Panel Clears Earned Wage Access Bill 31-23
A 31-23 party-line vote pushes a federal EWA framework to the House floor, stripping states of power to call these wage advances loans.
Deals
Thrive Holdings Raises $2B to Buy Up Service Firms
Altimeter, D1 and SoftBank just wrote the first outside check to Josh Kushner's AI roll-up vehicle. No price or premium was disclosed.
Deals
SK Hynix Files for $29B Nasdaq Listing
SK Hynix's $29 billion Nasdaq bid would top Alibaba's 2014 IPO record, betting Wall Street pays more for AI exposure than Seoul does.
Deals
Novartis Buys Myricx for $1.1B in ADC Push
Novartis just paid $1.1B for a biotech whose lead drugs have never touched a human patient. The math on that bet doesn't look cheap.
Deals
Starling Cuts 130 Jobs After Profit Slips 3%
Starling axed 130 jobs right after profits fell and a £29 million FCA fine for "shockingly lax" crime controls still weighs on the ledger.
Deals
AstraZeneca Pays CSPC $30M for $1.77B Kidney Deal
AstraZeneca puts just $30M down now to control up to $1.77B in kidney-drug milestones, its fourth check written to Chinese partner CSPC since 2024.
Deals
Payward Buys Reap for $600M in Stablecoin Bet
Kraken's parent paid up to $600M for a Hong Kong payments firm — here's what Payward actually bought, and why the discount to Stripe's Bridge deal.
Deals
Ipsen Pays $796M for Memo, No Per-Share Premium in Sight
No share price, no premium to measure. Just a binary bet: $227M upfront now, up to $796M if potravitug clears its kidney-transplant trial.
Deals
Fed's $16.6B Pandemic Loan Book Bleeds $2B More
A federal lending program built to rescue small businesses now owes taxpayers an answer: why is a third of its $16.6B book underwater?
Deals
Bidders Balk at Atom Bank's £600M Ask
Atom Bank's £600M auction couldn't find a full-price buyer, and shareholders are now weighing whether management should pay the price.
Deals
Elroy Air Nears $1B SPAC Via Columbus Circle
Elroy Air's cargo drone, built to replace trucks on middle-mile routes, could hit public markets by Friday via a $1B SPAC with Columbus Circle.
Deals
World Leaks Dumped Apple iPhone Schematics from Tata
World Leaks posted 200,000 files from Tata's breach, including Apple iPhone schematics and PCB designs. Dell and Nike were the warm-up.
Deals
Walmart Bought Vibe.co to Crack Streaming TV for SMBs
Walmart's undisclosed Vibe.co deal plugs the SMB gap in its CTV stack, coming one day after it unified ad ops across Walmart Connect and Sam's Club.
Deals
Sangamo Filed Chapter 11; Lilly Bids $50M for Platforms
Lilly converts a $1.4B milestone obligation into a $50M clean platform buy; Sangamo's Chapter 11 shows how bankruptcy reshapes deal math.
Deals
Nuvectis Buys Haisco Factor B Rights for $40M
Nuvectis paid $40M upfront for ex-China rights to Haisco's once-daily Factor B inhibitor in a PNH market projected above $5B in 2026.
Deals
Insilico Bags $2.5B SK Deal, $18M Upfront and Near-Term
SK Biopharmaceuticals is putting $18M upfront on a $2.5B Insilico neuroimmune deal — and the backloaded structure tells you who blinked.
Deals
Hits $2B Revenue, Kalshi Eyes IPO
Kalshi hit $2B in annualized revenue, doubled its valuation in five months, and is now talking to banks about an IPO it won't need until 2027.
Deals
Memento Raises $93M, Buys VEGF-Tie2 Eye Bispecific
Memento raised $93M and licensed a VEGF-Tie2 bispecific for nAMD and DME, conditions driving $4.4B in U.S. Eylea franchise sales last year.
Deals
Disabled: Salesforce Cuts Klue App After OAuth Token Theft
A dormant API credential let Icarus harvest OAuth tokens from Klue, taking CRM data from Huntress and prompting Salesforce to pull the plug.
Deals
Icarus Hacked 7 Firms via Klue OAuth Breach
Icarus extortion group turned a dormant Klue API credential into a Salesforce pivot hitting Recorded Future, Huntress, and five more firms.
Deals
Accenture Buys Dragos Trio in $4.2B OT Security Deal
Accenture paid roughly 20x ARR for Dragos, runZero, and NetRise, betting AI threats will turn a $27B OT security market into $59B by 2031.
Deals
Cleared: Santander's $12.3B Webster Deal Needs Fed
Santander's $12.3B Webster bid cleared OCC in 74 days, but Fed, ECB, and DOJ reviews still stand between Santander and a $327B U.S. lender.
Deals
OCC Cleared Santander's $12.2B Webster Buy
Santander's $12.2B Webster deal cleared the OCC, but the Federal Reserve and ECB still hold the pen on a close worth $75 per share.
Deals
Jazz Paid $56M Upfront in $2.46B AbCellera Deal
Jazz dropped $56M to option into AbCellera's T cell engager pipeline for GI cancer, days after Zepzelca's Phase 3 failed its SCLC expansion.
Deals
SpaceX Bought Cursor for $60B Days After IPO
SpaceX's $60B Cursor deal prices the startup at 23x revenue. Days after the IPO. The catch: Anthropic already controls half the AI coding market.
Deals
DOJ Cleared $111B Paramount Deal; Staff Wanted to Sue
DOJ greenlit a $111B streaming merger over the objections of its own antitrust staff, and state AGs are already lining up a lawsuit to stop it.
Deals
Salesforce Buys Fin for $3.6B at 9x ARR
Salesforce's $3.6B buy of Fin prices its Apex model at nine times ARR, an 80% premium to the company's last reported secondary valuation.
Deals
Fox Bought Roku for $22B at $160 a Share
Fox agreed to pay $160 a share for Roku, a $22B bet that owning the streaming distribution pipe is worth more than just filling it with content.
Deals
Mistral Seeks $3.5B at $23B Valuation
Mistral's new round would price the French startup at €20B, a 71% jump over last September's Series C, as it pitches European banks on sovereign AI.
Deals
Lilly Paid $2.3B for Ajax: Phase 1 Data Show Why
Lilly's $2.3B Ajax bet just got its first clinical proof: AJ1-11095 hit 70% SVR35, more than double the historical ceiling for pre-treated MF.
Deals
Biopharma Shed 6,956 Jobs in May, Takeda Leads
Biopharma cut nearly 7,000 jobs in May, a 47% YoY surge: Takeda's 4,500 restructuring targets 200B yen in savings, BioNTech another €500M.
Deals
Amazon Files $17.5B Credit Facility for AI
Amazon's $17.5B delayed-draw loan carries a Sept. 30 draw deadline and zero financial covenants, built to fund a $200B AI capex push.
Deals
Lilly Bought 10, Spent $25B: More Than Pharma Combined
Lilly's $25.27B deal spree in 2026 eclipses the combined M&A of every other top-12 pharma, and the obesity juggernaut isn't done yet.
Deals
J&J Buys Firefly Bio for $1B DAC Platform
J&J dropped $1 billion on a preclinical KRAS degrader platform at the exact moment Revolution Medicines proved the target is druggable.
Deals
Intesa Outbids BPM for Monte Paschi at $35.3B
Intesa Sanpaolo bid $35.3 billion for Monte Paschi at a 12.5% premium, blocking a BPM merger-of-equals offer that never named a price.
Deals
Roche Pays $700M Upfront for Nurix BTK Degrader
Roche drops $700M upfront and up to $3B total for Nurix's bexobrutideg, a BTK degrader headed into a phase 3 showdown with Lilly's Jaypirca.
Deals
S&P Blocks SpaceX, Freezes $14B Passive Flow
S&P held its profitability screen, costing SpaceX $14B in passive fund demand and putting OpenAI and Anthropic on the same minimum one-year clock.
Deals
Google Rents SpaceX Compute at $920M Monthly
Google rents 110,000 Nvidia GPUs from SpaceX at $920M a month, bridging a Gemini Enterprise demand surge that a $190B capex plan can't keep pace with.
Deals
Exited: Revolut CTO, Two CFOs in One Week
Nubank hired a former Visa North America CFO, Revolut downgraded its CTO title, and Adyen's CFO quit for a job outside fintech, all in one week.
Deals
Alphabet Prices $84.75B Record AI Equity Sale
Alphabet priced an $84.75B equity sale on June 2, the largest stock offering in recorded history, with Berkshire Hathaway in for $10B.
Deals
Alphabet Raises $80B; Berkshire Buys $10B Stake
Alphabet's $80B equity raise, anchored by Berkshire's $10B, signals the moment AI capex outpaces Big Tech's collective ability to self-fund.
Deals
Paid £15B in Year One, Amazon Ahead on £40B UK Pledge
Amazon hit £15 billion of a £40 billion UK pledge in year one, ahead of pace, while embedding a new payment into Prime's billing chain.
Deals
Lilly Paid $1.26B to License Hanmi's GLP-2
Lilly's $75M upfront bet on Hanmi's once-monthly GLP-2 could reach $1.26B if sonefpeglutide survives FDA, and its main rival already stumbled.
Deals
Lilly Paid $3.2B for Kelonia's 100% CAR-T Response
Lilly's $3.2B upfront bet on Kelonia just got its first real validation: 18 of 18 myeloma patients hit MRD-negative status at one month.
Deals
Raised $65B, Anthropic Tops OpenAI at $965B
Anthropic's Series H puts its valuation at $965 billion, a 154% step-up from February, with an investor list that reads like an IPO roadshow roster.
Deals
Pfizer Buys 12-Drug China Cancer Portfolio for $650M
Pfizer's $650M entry into China's early oncology machine mirrors BMS-Hengrui by two weeks, and neither buyer has Phase 1 data to show for it.
Deals
Groq Raises $650M for Neocloud After Nvidia Deal
Groq licensed its chip IP to Nvidia for $20B and lost its founding team. Now the remnant is raising $650M for a neocloud second act.
Deals
IBM, Red Hat Commit $5B to Open Source Security
IBM bet $5B and 20,000 engineers on enterprises paying for secured open source, with Goldman Sachs, JPMorganChase, and nine other banks already in.
Deals
Loses Two: Goldman Sheds C-Suite Pair in June
Goldman's chief of staff is out in June, making two management committee exits this year — the second shadowed by the Epstein fallout.
Legal
Confirmed: Charter Breach, ShinyHunters Claims 40M Records
Charter denies any sensitive data left its systems, but ShinyHunters claims 40 million records stolen and demands payment by May 27.
Deals
Uber Mulls Higher Delivery Hero Bid After €38 Snub
Uber's board is weighing whether to top €38 a share for Delivery Hero as DoorDash circles. A key shareholder has already said no twice.
Deals
Mastercard Bills Processors Half of $997M Brazil Loss
Mastercard paid half of Brazil's $997M Will Bank tab and wants processors to cover the rest. Cielo says acquirers never owned the risk.
FDA
Ousted: RFK Jr. Ends Makary's 13-Month FDA Tenure
Makary's 13 months at the FDA ended May 12 over a flavored-vape standoff, with food deputy Kyle Diamantas now acting commissioner.
Deals
Filed: CVC, GBL Bid €10.7B to Delist Recordati
CVC and GBL bid €10.7B to take Recordati private, but a 13% premium to the March price is a thin ask when you already control the register.
Deals
EU Reviews MiCA Two Years In; Dollar Stablecoins Win
Europe's flagship crypto framework is barely two years old, and Brussels is already asking if it can survive dollar stablecoins' global grip.
Deals
Lilly Bought Engage Bio's DNA Platform for $202M
Eli Lilly paid up to $202M for a preclinical biotech with zero disclosed programs: the platform bet driving its $21B 2026 buying spree.
Deals
Immunovant Paid $39M to Exit Batoclimab After TED Fails
Immunovant paid $39M in exit costs on batoclimab after two phase 3 TED trial failures, while next-gen IMVT-1402 RA data lifted shares 20%.
Deals
Oorja Bio Banks $30M on IPF Drug ORJ-001
Acceleron veterans bet Westlake BioPartners' $30M on ORJ-001, a first-in-class IPF peptide with Phase 1 data in hand and Phase 2 next.
Deals
Commure Raises $70M at $7B, Targets $1T Market
Commure raised $70M at a $7B valuation, with General Catalyst doubling down on AI that automates 85% of hospital billing without human hands.
Deals
Regeneron Commits $125M Upfront in $2.3B Parabilis Deal
Regeneron pays $125M upfront in a $2.3B Parabilis collaboration to build antibody-helicon conjugates, a drug class that doesn't exist yet.
Deals
Boston Scientific buys into MiRus for up to $4.5B
Boston Scientific paid $1.5B for 34% of MiRus and locked in a $3B option for its SIEGEL TAVR system, one year after scrapping its own valve program.
Deals
Pfeifer Exits AC Immune
Andrea Pfeifer ends her run at AC Immune, sending the company into its first-ever CEO search.
Deals
equipifi Raises $34M to Build Bank BNPL
Left Lane Capital's $34M Series B in equipifi targets the 49% of credit union members already routing BNPL through outside providers.
Deals
Bought for $500M, Intermex Faces NYC Regulatory Block
NYC Mayor Mamdani is asking regulators to kill Western Union's $500M Intermex buy, citing fee hikes that would hit immigrant families hardest.
Deals
FCC Clears AT&T, Starlink EchoStar Spectrum Deals
The FCC cleared EchoStar spectrum for AT&T and Starlink, leaving rural carriers to fight for secondary deals that may never materialize.
Deals
Isomorphic Closes $2.1B Series B, Second Biggest Biotech
Alphabet's Isomorphic Labs closed a $2.1B Series B, the second biggest biotech fundraise ever, with no pipeline molecule disclosed.
SEC
FinCEN's AML Overhaul Makes AI an Enforcement Factor
FinCEN's 7 April NPRM rewrites 25 years of AML rules. Buried in the fact sheet: AI use will weigh on how the Director sets fines.
Deals
BMS Buys Into Hengrui 13-Asset Pipeline for $950M
BMS commits $950M up front for a 13-asset onco-immune pipeline with Hengrui that could balloon to $15.2B if every milestone clears.
Deals
Booked $5B Write-Down, CSL Hits Nine-Year Low
CSL's $5B write-down paired with a 4% guidance cut drove shares to a nine-year low; investors aren't convinced the cleanup is done.
Deals
Odyssey Prices $304M IPO at $18, Bets on RIPK2
Odyssey Therapeutics priced a $304M IPO at $18 per share, at the top of its range, with $135M earmarked for a RIPK2 inhibitor in ulcerative colitis.
Deals
Lilly Drops $4.5B, Opens First Genetic Medicine Plant
Lilly's $4.5B Indiana bet includes the company's first genetic medicine plant and what could become the largest API site in U.S. history.
Deals
Roche Buys PathAI for $750M, Up to $1.05B Total
Roche is dropping $750M upfront for PathAI, with another $300M in milestones riding on a pathology software platform it wants to take global.
Deals
Angelini Pays $4.1B for Catalyst's Rare Neuro Drugs
Angelini Pharma dropped $4.1B on Catalyst and its trio of FDA-approved rare neurology treatments; the per-share premium wasn't disclosed.
Deals
GSK Bought SiranBio for $1B in siRNA Bet
GSK paid up to $1B for SiranBio's Phase 1 siRNA asset targeting ALK7, doubling down on cardiometabolic bets while GLP-1 rivals pile up.
Deals
Lilly Puts $4.5B More Into Indiana Complex
Lilly's $4.5B Lebanon push brings its U.S. decade commitment over $50B, with a tirzepatide API plant poised to be the country's largest.
Deals
Bullish Buys Transfer Agent Equiniti for $4.2B
The crypto exchange is paying $4.2B for capital markets plumbing: a transfer agent processing $500B annually for 20 million shareholders.
Deals
Madrigal Pays $25M Up, Bets $1B on Arrowhead RNAi
Madrigal's $1B bet on Arrowhead's ARO-PNPLA3 targets a PNPLA3 mutation affecting 30% of MASH patients that Rezdiffra doesn't cover.
Deals
Amgen Adds $300M to Puerto Rico Biologics Site
Amgen drops another $300M into its Puerto Rico biologics site, bringing Juncos to nearly $1B total and U.S. manufacturing pledges close to $2B.
Deals
Bid $55.5B for eBay: GameStop Can't Cover It
GameStop offered $55.5B for eBay at $125 a share, a 46% premium, but CNBC's math found a $16 billion gap Ryan Cohen couldn't explain.
Deals
Windward Bio Raises $165M for Late-Stage Trial
Swiss biotech Windward Bio raised $165M to advance a China-derived drug into late-stage testing. What investors get from this bet is the real question.
Deals
Ken Song's T Cell Engager Bet Gets Picked Up
Ken Song has done it again.
Deals
Bought Candid for $2B, UCB Challenges Gilead on TCE
UCB bought Candid Therapeutics for $2 billion upfront, plus up to $200 million in development milestones, cutting off a planned reverse merger with…
Deals
Novartis Seals $23B US Build With NC API Plant
Novartis has committed $23 billion to build seven U.S. facilities, and the final piece just landed in Morrisville, North Carolina: a 56,200-square-foot…
Deals
Bought: Sun Pharma's $11.75B Organon Deal
Sun Pharma paid $11.75 billion for Organon, the largest biopharma acquisition of 2026 and the biggest deal any Indian drugmaker has ever announced.
Deals
BeOne Buys $2B Option on Huahui Trispecific
BeOne Medicines is paying $20 million upfront to reserve an exclusive option on HH160, a preclinical trispecific antibody from Beijing-based Huahui Health.
Deals
OppFi Buys Arizona Bank for $130M at 1.2x Book
OppFi paid $130 million for BNCCORP and its BNC National Bank subsidiary, a cash-and-stock deal that values the Glendale, Arizona lender at 1.2 times its…
Deals
Adyen Bought Talon.One for $876M
Adyen paid €750 million ($876 million) in cash to buy Talon.
Deals
Paid $1.9B: Chiesi Bought KalVista and Its Approved Drug
Chiesi paid roughly $1.9 billion to buy KalVista Pharmaceuticals, an Italian pharma adding a commercial-stage biotech to its portfolio.
Deals
AbbVie Buys $1.45B Option on Kestrel's KRAS Program
AbbVie has secured an exclusive right to buy Kestrel Therapeutics for up to $1.45 billion, with the biotech required to hit unspecified development and…
Deals
Sun Pharma Bought Organon for $11.75B, Debt Included
Sun Pharma paid $11.75 billion, or $14 a share in cash, to buy Organon in a deal that positions the India-based generics maker among the world's biosimilar…
Deals
Lilly Bought Ajax for $2.3B on a JAK2 Resistance Bet
Eli Lilly paid up to $2.3 billion for Ajax Therapeutics on April 27, adding a Phase 1 myelofibrosis asset to a deal streak that's included Verve ($1B…
Deals
Lilly Bought In Vivo CAR-T as Sanofi Faces Reckoning
Eli Lilly bought an in vivo CAR-T biotech, terms undisclosed.
Deals
Google Commits $40 Billion to Anthropic at $350 Billion Valuation
Google put $10 billion into Anthropic on Friday at a $350 billion valuation, with another $30 billion committed contingent on performance milestones.
Deals
Paid $9B for Clario, Thermo Fisher Raises 2026 Revenue Guidance
Thermo Fisher paid $9 billion for Clario and got $30 million back in Q1.
Deals
Kailera Raises Record $625M IPO on Hengrui GLP-1 Pipeline
Kailera Therapeutics raised $625 million in a record IPO for an obesity biotech.
Deals
Regeneron Closes MFN Deal, Completing 17-Company White House Sweep
Regeneron signed the White House's most-favored-nation drug pricing deal Thursday, becoming the 17th and final company to do so — closing out a sweep that…
Deals
AbbVie Builds $1.4B Durham Campus, First in North Carolina
AbbVie has allocated $1.4 billion for a manufacturing campus in Durham, North Carolina, its first in the state, drawn from the company's $100 billion US…
Deals
Cut $1B Google Cloud Deal, Merck Targets HCP Engagement
Merck paid $1 billion to Google Cloud for access to its agentic AI platform, and the commercial team gets there first.
Deals
Buys Kashiv for $1.1B, Amneal Eyes $200B Biosimilar Market
Amneal paid $1.1 billion to buy Kashiv BioSciences: $750 million upfront in cash and equity at close, plus up to $350 million tied to pipeline milestones.
Deals
Forager Bids $1B for Repay at 75% Premium
Forager Capital Management offered $1 billion for Atlanta-based Repay Holdings at $4.80 a share, a 75% premium to the stock's 30-day volume-weighted average…
Deals
Paid $1.25B, Apollo Takes 13% of McKesson's Surgical Unit
Apollo Funds paid $1.25B for a 13% minority stake in McKesson's Medical/Surgical Solutions division, valuing MMS at roughly $13 billion.
Deals
Kelonia Sale Hands Venrock a 45-Fold Return on $20M
Venrock put $20 million into Kelonia Therapeutics.
Deals
Lilly Bets on Kelonia's In Vivo CAR-T
Lilly paid an undisclosed sum upfront for Kelonia Therapeutics on Monday, placing a large bet on in vivo CAR-T as its next platform priority.
Deals
Kailera Raises $625M in Record Biotech IPO on Nasdaq
Kailera Therapeutics raised $625 million Friday in a record-setting biotech IPO on the Nasdaq.
Deals
Kraken Paid $550M for Bitnomial's Triple CFTC License Stack
Kraken paid up to $550 million for Bitnomial, a derivatives firm, in a deal that closes by June.
Deals
UCB Paid $1.15B for Neurona's Single-Dose Epilepsy Cell Therapy
UCB paid up to $650m upfront, with up to $500m in future milestones, to buy Neurona Therapeutics in a deal valued at up to $1.15bn.
Deals
Bought Comerica. Now Fifth Third Converts 500,000 Customers by Labor Day
Fifth Third bought Comerica in February, folding in about $294 billion in assets and roughly 500,000 retail customers.
Deals
Raised $625M at $16 a Share, Kailera Tops Moderna's 2018 IPO Record
Kailera Therapeutics priced just under 40 million shares at $16 apiece Friday, pulling in $625 million on its Nasdaq debut under KLRA.
Deals
Topped $30B: Revolution Medicines Buyout Climbs on Cancer Win
Revolution Medicines had a rumored $30 billion buyout offer on the table in January.
Deals
Kailera Prices $625M IPO, Largest Biotech Since Moderna
Kailera Therapeutics priced its IPO at $625m, or $16 a share, on April 16 — at the top of its S-1 range and one of the largest biotech public offerings…
Deals
Priced at $16, Kailera Raises $625M in Largest Biotech IPO Since 2018
Kailera Therapeutics priced its IPO at $16 a share Friday, raising $625 million, the largest biotech public offering in recent memory, topping Moderna's…
Deals
Daiichi Sankyo Sold $1.55B Consumer Unit to Suntory
Daiichi Sankyo will sell its consumer health subsidiary to Suntory Holdings for 246.5 billion yen, about $1.55 billion, paid in tranches over three years.
Deals
Filed: Nir Zuk's Bid for $442M-Asset Liberty Bank
Nir Zuk, the Israeli billionaire who founded Palo Alto Networks, filed a Federal Reserve application Wednesday to acquire voting shares of DMG Bancshares…
Deals
Cleared $22B: Q1 2026 Obesity Deals Top 2025's Full-Year Total
Biopharma committed $22 billion to obesity and diabetes licensing deals in Q1 2026, clearing last year's full-year total of $20.3 billion with three…
Deals
Aligos Sells China HBV Rights to Amoytop in $445M Deal
Aligos Therapeutics sold the Greater China rights to pevifoscorvir sodium to Fujian-based Amoytop for up to $445 million: $25 million upfront and $420…
Deals
Revolution Doubles Offering to $2B at $142 After Daraxonrasib Phase 3 Win
Revolution Medicines is raising $2 billion in a stock offering priced at $142 per share, up from the $1 billion it announced Monday, hours after reporting…
Deals
Revolution Medicines Prices Record Raise, Biotech's Biggest Since Pandemic
Revolution Medicines just priced a public equity raise, the largest single biotech offering since the Covid-19 pandemic.
Deals
Sold for $1.55B: Daiichi Sankyo's OTC Unit Goes to Suntory
Daiichi Sankyo sold its consumer health unit to Suntory Holdings for 246.5 billion yen, roughly $1.55 billion, in a staged transfer that kicks off this June…
Deals
Biogen Paid $5.6B for Apellis; Filing Confirms Deal Terms
Biogen paid $5.6B for Apellis, and a new SEC filing confirmed the deal details CEO Chris Viehbacher has been engineering: a company that doesn't grow on…
Deals
Bain Built $300M Beeline Medicines on 5 BMS Autoimmune Programs
Bain Capital put $300 million into Beeline Medicines at launch, licensing five autoimmune programs from Bristol Myers Squibb to build its next specialty…
Deals
Alamar Biosciences Files $159M IPO on 196% Revenue Growth
Alamar Biosciences wants $159 million from public markets, pricing 9.4 million shares at $15 to $17 apiece for a Nasdaq listing under "ALMR.
Deals
Click Therapeutics Cut More Than a Quarter of Staff After Series D
Click Therapeutics raised Series D funding, then cut more than a quarter of its workforce shortly after.
Deals
AbbVie Bought Two NaV1.8 Pain Assets from Haisco for $745M
AbbVie bought ex-China rights to two NaV1.8 sodium channel pain inhibitors from Beijing-based Haisco Pharmaceutical for up to $745 million.
Deals
Kailera Files $528.5M Nasdaq IPO to Fund Four GLP-1 Obesity Drugs
Kailera filed for a $528.5 million Nasdaq IPO, pricing 33.33 million shares at $14 to $16 each.
Deals
Regeneron Paid $40M to Enter Radiopharma; Telix Scores Up to $4.3B
Regeneron put $40 million on the table Sunday to partner with Telix Pharmaceuticals, the Australian biotech with one of the more active radiopharmaceutical…
Deals
Counted $700M in Benko Losses, Julius Baer Now Counts CFO Days
Julius Baer has been counting losses for two years.
Deals
Blackstone Files $2B IPO for AI Data Center Buyer
Blackstone filed confidential IPO paperwork with U.S. regulators to raise $2 billion for a dedicated acquisition vehicle targeting data centers, Bloomberg…
Deals
Novo Loses GLP-1 Pioneer Lotte Bjerre Knudsen to Retirement
Novo Nordisk is losing a key obesity figure.
Deals
Shionogi Wins $119M BARDA Contract for Fetroja
Shionogi has been awarded a $119 million contract from BARDA for Fetroja, a direct government commitment to the drugmaker's drug.
Deals
Closed Above Target, Jeito Capital Fund II Hits €1.6B AUM
Jeito Capital closed Jeito II at more than €1bn, lifting the firm's total AUM to €1.6bn.
Deals
BARDA Cut $482m Shionogi Deal for US Antibiotic Capacity
BARDA paid $482m to get Fetroja made on US soil.
Deals
Paid $20M Upfront, Roche Extends C4T Molecular Glue Deal
Roche is paying $20 million upfront for access to two degrader-antibody conjugate (DAC) programs from C4 Therapeutics, with more than $1 billion in…
Deals
Polygon Targets $50M-$100M Equity Round as Token Sheds 90%
Polygon Labs seeks $50M-$100M in equity to build its Open Money Stack stablecoin platform, a bet on payments as its native token shed 90% of its value.
Deals
Steve Ubl Steps Down as PhRMA Chief Amid Drug Pricing Battle
PhRMA leader Steve Ubl plans to step down at a pivotal moment for pharma's most powerful DC trade group, Endpoints News reports.
Deals
Gilead Spends $14.77B on Three Deals, Then Hits Pause
Gilead bought Arcellx, Ouro, and Tubulis for $14.77B in under ten weeks. CFO says further big deals are unlikely this year, but the door stays open.
Deals
KreditBee Hits $1.5B Valuation on $280M Round, Joins Unicorn Club
KreditBee joins India's unicorn club as investors bet on the country's underserved lending market.
Deals
Merck Cut Terns Bid by $1B After Leukemia Data Missed
Merck cut its Terns offer from $7.7B to $6.7B after Phase 1 leukemia data disappointed. The rival bidder walked entirely.
Deals
Whoop Closes $575M Series G as Health Tech Q1 Doubles Down on AI
Whoop's $575M Series G tops a Q1 health tech funding wave built on AI clinical workflow bets, with no post-money valuation disclosed yet.
Deals
Lilly Bets on Orexins, Tirzepatide Playbook Repeats
Eli Lilly acquires into the orexin drug class, betting the maturing CNS mechanism follows the same multi-indication arc as GLP-1.
Deals
Digital Health Posts $4B Q1 Record as 12 Deals Take 59%
Digital health hit $4B in Q1 2026, up $1B year-over-year, but 12 mega-deals claimed 59% of all capital as total deal count fell to 110.
Deals
Apnimed Locks $150M Credit Line for AD109 Sleep Apnea Launch
Apnimed secured up to $150M from HCRx to launch AD109, with only $50M unconditional and the rest tied to FDA approval and a sales milestone.
Deals
Gilead Pays $3.15B for Tubulis in Third ADC Bet of 2026
Gilead's $3.15B upfront buy of Tubulis adds a 59%-ORR NaPi2b ADC to its pipeline — its third acquisition of 2026, totaling over $12B spent.
Deals
Lilly Pays $7.8B for Centessa to Buy Into the Orexin Race
Lilly is paying $7.8B for Centessa — $38/share plus a $9 CVR — to grab cleminorexton, a Phase IIa orexin agonist for narcolepsy.
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Deals
Takeda Files WARN for 634 US Cuts, 247 of Them at Cambridge HQ
Takeda filed a WARN notice to cut 634 US jobs, with 247 hitting its Cambridge headquarters — the largest concentration in the restructuring.
Deals
Syneron Bio Closes $150M Series B for Peptides
Syneron Bio raised a $150M Series B for peptide development. GLP-1s proved the format can print billions. The program list is still a mystery.
Deals
Neurocrine Buys Soleno for $2.9B, Betting 15x Revenue on Rare Hunger Drug
Neurocrine is paying $2.9B at ~15x trailing revenue for Soleno's Vykat XR, the only approved drug for Prader-Willi hunger, in its biggest-ever deal.
Deals
Anthropic Drops $400M on Six-Person Drug Discovery Startup
Anthropic acquires six-person AI biotech Coefficient Bio for $400M in stock — $66M per employee for a company founded in 2025 with no public product.
Deals
Takeda Walks Away From $150M Denali Dementia Bet After 8 Years
Takeda returns frontotemporal dementia drug DNL593 to Denali after 8 years and $150M, citing strategy—not safety—days after Denali's FDA approval win.
Deals
Anthropic Pays $400M for a 10-Person Ghost Company
Anthropic is paying ~$400M for Coefficient Bio, a sub-10-person stealth startup. The price signals how expensive life sciences AI talent has become.
Deals
Stipple Bio Raises $100M to Pinpoint Cancer Drug Targets
Stipple Bio launches with $100M to identify precise targets on cancer proteins, betting the ADC industry's real problem is aim, not ammo.
Deals
Neurocrine Pays $2.9B for Soleno's Prader-Willi Drug
Neurocrine pays $53/share in cash for Soleno Therapeutics, acquiring Vykat XR, a profitable approved treatment for Prader-Willi syndrome.
Deals
Gilead Cuts 51 Foster City Jobs One Year After Same Layoff
Gilead cuts 51 Foster City jobs effective May 29, one year after the same HQ shed 149. The backdrop: ~$10B in acquisitions closed since February.
Deals
Syneron Bio Pulls $150M Series B Four Months After $100M Round
Syneron Bio raises $150M Series B, bringing total funding to $250M in four months, backed by AstraZeneca and Abu Dhabi sovereign wealth.
Deals
OpenEvidence Buys Tandem to Automate Prior Authorization
OpenEvidence acquires Tandem to add AI-driven prior authorization to its doctor-facing platform, threatening standalone PA automation vendors.
Deals
Lilly Pays $115M Upfront in Insilico AI Deal Worth Up to $2.75B
Eli Lilly paid $115M upfront for an AI collaboration with Insilico Medicine worth up to $2.75B, with milestone math that heavily favors Lilly.
Deals
Blackstone Raises New Fund as Two Pharma Giants Close March Megadeals
Two pharma giants closed megadeals in March while Blackstone raised a new fund — more dry powder chasing the same targets means multiples only go one way.
Deals
Biogen Drops $5.6B for Apellis at 140% Premium, Shares Fall
Biogen acquires Apellis for $5.6B at a near 140% premium, adding Syfovre and Empaveli to offset a fading MS franchise ahead of pharma's patent cliff.
