Q2 2024 Pharmatech Report Summary
VC and PE Activity
VC Deal Activity:
- Total Deals: 48 (QoQ: -26.2%, YoY: -36.0%)
- Total Deal Value: $1.1 billion (QoQ: 9.4%, YoY: -43.5%)
Notable Deals:
- Formation Bio: Raises $372.0 million in a Series D, valued at $1.7 billion.
- Delfi Diagnostics: Raises $100.0 million in a Series B, bringing total funding to $725.0 million.
- Karius and Pi Health: Raise $100.0 million and $72.7 million respectively in Series A rounds.
PE Activity:
- Buyout Deals: 21 (QoQ: -52.5%, YoY: -87.5%)
- Growth Equity Deals: 9 (QoQ: -85.5%, YoY: -90.6%)
Notable Deals:
- Inventia Healthcare: Acquired by Platinum Equity for $300 million.
- Searchlight Pharma: Acquired by Apotex for $365.9 million.
- Bormioli Pharma: Acquired by Gerresheimer AG for $861.7 million.
Exit Activity:
- Total Exits: 7 (QoQ: -75.0%, YoY: -76.9%)
- Total Exit Value: $1.2 billion (QoQ: -75.0%, YoY: -76.9%)
Notable Exits:
- Bormioli Pharma: Acquired by Gerresheimer AG for $861.7 million.
- FairJourney Biologics: Sold by GHO Capital to Partners Group for nearly $1 billion.
Innovation Spotlights
AI & Precision Medicine CROs:
- Companies like Formation Bio and Delfi Diagnostics are leveraging AI to accelerate drug development.
Cell & Gene Therapy CDMOs:
- Companies such as Inventia Healthcare and Searchlight Pharma are focusing on advanced oral drug delivery technologies and specialty pharma solutions.
Company Highlights: AmplifyBio
- Focus Areas: Expanding service offerings, accelerating next-generation therapeutics, enhancing capabilities in vaccine technologies, bioanalytics, and cell & gene therapy.
- Strategic Initiatives: Increasing preclinical study capacity, improving biotechnology platform efficiency, supporting rapid, safe development of innovative therapeutics.
- Partnerships: Collaborating with Battelle and Andelyn Biosciences, winning a $149 million contract for the National Institute of Neurological Disorders and Stroke.
- Prospects: Balancing breadth and depth of expertise, managing rapid growth, navigating regulatory landscape.
This summary provides a comprehensive overview of the key trends, notable deals, and strategic initiatives in the pharmatech sector during Q2 2024.