Why The M&A Boom Many Expected In 2018 Didn’t Happen
High valuations, an uncertain biopharma macro environment and widespread use of US tax reform benefits for share buybacks and capital investments resulted in less major M&A than expected. Opinions vary widely on whether 2019 will be any different.
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BioMarin’s focus on rare diseases and gene therapies and expected financial growth make it a logical acquisition target for almost any large pharma, though Biogen, Amgen and Regeneron also offer a beneficial fit for many.
Lim, CEO of Ignyta when it was sold to Roche earlier this year, has moved on to the start-up Erasca with $42m in Series A venture cash to develop "precision oncology" drugs.
Private Company Edition: Investments by CIRM, the GHIT fund and the European Investment Bank back early-stage science and treatments for neglected diseases. Also, Versant Ventures raises $700m in two funds. In VC deals, Akero raised $70m, Impel NeuroPharma brought in $67.5m.