Here is Matt Lowdon‘s weekly update summarising the top deal news across medical devices and biotechnology. Headlines include cancer detection, neurotechnology, AIDD, prothetics and more. Congratulations to all involved.
🔔 The stars have aligned for Bristol Myers Squibb and Orbital Therapeutics. Pushing deeper into in vivo cell therapies, BMS has agreed to pay $1.5 billion to buy the biotech for a pipeline led by a preclinical CD19 autoimmune program.
đź”” German prosthetics maker Ottobock saw its shares climb 9% on debut in Frankfurt after raising €808m in Germany’s biggest IPO since March 2024
đź”” Alpenglow Biosciences has penned a new, multiyear strategic agreement with VIRDX to create the next generation of artificial-intelligence-powered tools aimed at better detecting prostate cancer.
🔔 A new RNA biotech has risen with a $200 million series A in the tank and a team of seasoned biotech chefs ready to light the burners. Soufflé Therapeutics will cook up siRNA medicines that are targeted and cell-specific, the newly hatched company said
đź”” Spanish company ARTHEx Biotech, a spin-off from the University of Valencia developing targeted RNA medicines for rare neuromuscular disorders, has raised $87 million in an extension of its Series B funding round.
🔔 Nilo Therapeutics has launched with $101 million in series A funds to drive its ambition to harness neural circuits to restore immune homeostasis. The New York-headquartered company was founded by a trio of respected academics from Columbia University
🔔 Shuttle Pharmaceuticals, Inc. has rocketed into the artificial-intelligence-driven drug discovery space via the planned $10 million acquisition of MoleculeAI.
đź”” Two ex-Moderna leaders have hit a milestone in their new endeavor, closing a $325 million inaugural fund for their biotech venture capital firm called Ascenta.
🔔 Expedition Therapeutics is gearing up for a phase 2 trek with a $165 million series A that closed Oct. 9. The new funding will fuel the Bay Area biotech’s DPP1 inhibitor EXPD-101 as it ventures into a study in patients with COPD.
🔔 Novo Nordisk has struck a deal to buy Akero Therapeutics for up to $5.2 billion, teeing up a showdown with Roche and others in a blockbuster liver disease market.
🔔 Arthrosi Therapeutics, Inc. has raised $153 million to bankroll its bid to clout gout. The series E financing gives the biotech the financial firepower to deliver data from two phase 3 trials next year.
