March Shows Some Life for Biotech M&A With Over $1.7B in Deals.

Serepta's (SRPT) issues dominated some headlines but there has been some nice M&A activity so far in March. So far, biotech transactions for 2025 are well behind 2024 but med tech has seen more life.

Capital Markets Activity as of March 7th, 2025:

Biotech: 2 transactions (1 follow-on and 1 RD) totaling just under $600M

Med Tech: 1 transaction (1 IPO) totaling just over $200M

2025 YTD:

26 biotech transactions totaling just over $4B vs. 2024 YTD: 83 biotech transactions totaling just under $16B

8 Med Tech transactions totaling just under $900M vs.2024 YTD: 2 med tech transactions totaling just under $200M

Private Transactions:

Biotech: 48 US transactions / 21 European transactions

Med Tech: 40 US transactions / 20 European transactions

M&A Activity for March:

• Paratek Pharmaceuticals acquired OptiNose for $90M or $9.00/share

• AstraZeneca acquired EsoBiotec for $425M

• Taiho Pharmaceutical acquired Araris Biotech for $400M

• Knight Therapeutics acquired Paladin Pharma for $83M

• Bristol Myers Squibb acquired 2seventy bio for $286M or $5.00/share

• Sun Pharma acquired Checkpoint Therapeutics for $355M or $4.10/share

• Jazz Pharmaceuticals acquired Chimerix for $935M or $8.55/share