Week of August 2nd 2021 | Vol. 10, Issue 31
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

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.

For more information about our consumer healthcare JV with The Emerson Group, Daybreak Consumer Care, click here.
Recent Materials Providing Insight Into Healthcare Related Industries
Current M&A Pipeline
Representative Current Retained Sell-Side And Partnering Opportunities
Project Focus
Sell-side | CMO | Liquids and Semi-solids CMO headquartered in North America

Project Trident
Buy-side | Generic Pharma | Manufacturing liquid generics

Project Aspen
Sell-side | CDMO | Multinational CDMO headquartered in US

Project Athena
Sell-side / Licensing | Medical Device | Novel device for pelvic organ prolapse
Biotechnology company Amgen has agreed to acquire Teneobio, a privately held clinical stage biotechnology firm, in a deal valued at about $900m.

Teneobio is developing a new class of biologics, called Human Heavy-Chain Antibodies (UniAb), to treat cancer, autoimmunity, and infectious diseases.

TeneoSeek, the company’s discovery platform, includes next-generation sequencing, genetically engineered animals (UniRat and OmniFlic), bioinformatics and high-throughput vector assembly technologies.

The transaction will include Teneobio’s bispecific and multispecific antibody technologies that will help Amgen to speed up the discovery and development of new molecules.

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.
Pharma & Biotech
11 transactions totaling $462 million
Supplies, Equipment & Services
10 transactions totaling $232 million
Healthcare IT & Managed Care
6 transactions totaling $305 million
Healthcare Facilities & Distributors
6 transactions totaling $33 million
Pharma & Biotech
19 transactions totaling $853 million
Supplies, Equipment & Services
13 transactions totaling $311 million
Healthcare IT & Managed Care
9 transactions totaling $397 million
Healthcare Facilities & Distributors
0 transactions
Pharma & Biotech
8 transactions totaling $1,419 million
Supplies, Equipment & Services
4 transactions totaling $325 million
Healthcare IT & Managed Care
5 transactions totaling $4,801
Healthcare Facilities & Distributors
0 transactions
A Breakdown of Relevant Trading Multiples
Each week, we provide updated trading comps for leading companies from numerous healthcare sub-sectors.
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.
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.
July 27, 2021 - Pharmaceutical Business Review
PerkinElmer has signed an agreement to acquire US-based BioLegend, a life science antibodies and reagents provider, in a deal valued at about $5.25bn. BioLegend provides antibodies and reagents to its academic and biopharmaceutical customers for use in areas including cytometry, proteogenomics, multiplex assays, recombinant proteins, magnetic cell separation and bioprocessing.

July 27, 2021 - Fierce Biotech
Seven years ago, AbbVie penned an early-stage deal with Google/Alphabet’s life sciences division Calico: The pair have clearly enjoyed their time together, as they are penning a second extension for that collab. This deal first saw pen hit paper all the way back in 2014 and focused on age-related diseases, including neurodegeneration and cancer. Back in 2018, the pair signed their first extension to the collab, putting in an extra $1 billion to keep it going.

July 27, 2021 - Fierce Pharma
Pharma is already playing the COVID card. In the face of a comprehensive global tax agreement intended to stymie opportunities for tax avoidance, industry executives and lobbyists are mounting a quiet campaign to push back against the measure, The Wall Street Journal reports. This time around, however, pharma has a new negotiating tool: the goodwill garnered by the rapid deployment of COVID-19 vaccines.

July 28, 2021 - Fierce Biotech
Just two months after getting a swift approval for its closely watched KRAS lung cancer drug Lumakras, Amgen is not resting on its laurels and has penned a major new buyout deal to further boost its oncology pipeline. The biopharma is putting $900 million down upfront, with $1.6 billion in biobucks on the table to snap up Teneobio and its suite of bispecific and multispecific antibody technologies that are focused on cancer and other disease targets.
Events Hosted or Attended by Bourne Partners

August 10-12, 2021 - Philadelphia, PA

October 20, 2021 - Charlotte, NC

November 9-11, 2021 - Milan, Italy

January 10-14, 2022 - San Francisco, CA
Welcome to Bourne, let's talk.

Since our founding in 2001, Bourne Partners has remained focused on fulfilling the unique needs of established, middle-market healthcare and pharmaceutical companies across the globe. Our track record includes advising middle market companies in healthcare M&A assignments totaling more than $7 billion, and growing companies into successful and well-positioned pharmaceutical enterprises.