Week of April 29, 2019 | Vol. 8, Issue 17
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In This Issue
Featured Headlines
Recent Industry Transactions
Industry Trading Comps
Recent Industry Headlines
Market Reports
Upcoming Events
Quick Links
Contact Information
Managing Director
Business Development
Managing Director
Head of M&A and Capital Advisory
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Above is an overview of recent industry M&A activity. For additional information, see the charts below or click on the chart above to download complete transaction tables broken out by industry sub sectors.
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Lilly taps Avidity's antibody-oligonucleotide conjugate tech in $35M deal
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Eli Lilly is looking to create new drugs for immunology and other diseases by combining antibodies and oligonucleotides—or short DNA or RNA molecules. To that end, it is handing over $20 million upfront and $15 million in equity to Avidity Biosciences to use its antibody-oligonucleotide technology to zero in on new targets and propel new medicines toward the clinic. Under the research and licensing
deal
, Avidity could receive up to $405 million in development, regulatory and commercialization milestones for each target Eli Lilly chooses to advance, the companies said in a statement. Avidity could not specify how many targets this could total. Attaching molecules to antibodies to take advantage of their selective nature isn’t a new idea. Many players are working on antibody-drug conjugates in oncology, an approach that would deliver cell-killing drugs to cancerous tissue while sparing healthy tissue. However, the complexity of this class of drugs has resulted in only a handful reaching market, despite hundreds of clinical trials in the space.
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RECENT INDUSTRY TRANSACTIONS
An Overview of Transactions Within Market Sub-segments
Below are summaries and charts with the past week's transactions from the different healthcare sectors. For a detailed table showing data for each industry transaction click on any of the charts. Total transaction values are provided in USD millions.
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Pharma & Biotech
19 transactions totaling $617 million
Supplies, Equipment & Services
16 transactions totaling $48 million
Healthcare IT & Managed Care
5 transactions totaling $33 million
Healthcare Facilities & Distributors
4 transactions totaling $12 million
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Pharma & Biotech
19 transactions totaling $425 million
Supplies, Equipment & Services
23 transactions totaling $198 million
Healthcare IT & Managed Care
11 transactions totaling $328 million
Healthcare Facilities & Distributors
4 transactions totaling $193 million
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Pharma & Biotech
10 transactions totaling $3,698 million
Supplies, Equipment & Services
4 transactions totaling $50 million
Healthcare IT & Managed Care
0 transactions
Healthcare Facilities & Distributors
0 transactions
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INDUSTRY TRADING COMPS
A Breakdown of Relevant Trading Multiples
Each week, we provide updated trading comps for leading companies from numerous healthcare sub-sectors.
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To the right you will see a high-level breakdown of median revenue and EBITDA multiples for each of the specific sub sectors.
For a complete trading comp analysis (including the individual equities that comprise the sub sectors), click on the table.
Note: data reflects prior week close.
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RECENT INDUSTRY TRANSACTIONS
A Sampling of Relevant Industry Headlines from Last Week
Below are snippets from relevant industry news articles from the past week. For additional information or the article's complete text, click the headline link to view the original publication.
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April 26, 2019 - Bio Space
On February 25,
Roche
announced plans to
acquire
Spark Therapeutics
for $114.50 per share, a value of about $4.3 billion. Today, Roche
announced
it had withdrawn its Premerger Notification and Report Form under the Hart-Scott-Rodino Act over the deal. They intend to refile their respective forms on or about May 9.
April 25, 2019 - Fierce Pharma
Iran is one of those tricky markets, even for European companies, as the U.S. steps up pressure on the country to change its nuclear efforts. Merck KGaA will be able to expand in the country, however, with the completion by a contractor of a facility dedicated to making its meds.
April 24, 2019 - Bio Space
ADC Therapeutics
, an oncology drug discovery and development company that specializes in the development of proprietary antibody drug conjugates (ADCs), and
Adagene Inc.
, an antibody engineering and discovery company, today announced that they have entered into a discovery collaboration and license agreement.
April 23, 2019 - Fierce Pharma
When Sanofi inked a massive lease in Cambridge Crossing for its Genzyme unit last year, the French drugmaker found itself in prime position for another real estate deal. The move opened up a lot of square footage at Sanofi Genzyme's existing facility in Kendall Square, the hottest address in the Boston biotech hub.
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MARKET REPORTS
Recent Materials Providing Insight Into Healthcare Related Industries
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April 30 - May 2, 2019 | Chicago, IL, United States
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April 29 - May 5, 2019 | Charlotte, NC, United States
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