BioPharma BD Report | Q424

Our latest analysis of financial deal spend in the biopharma industry.

Key Highlights

• Dealmaking and M&A activity: The increase was primarily driven by global partnerships in development, commercialization and R&D. The largest deal was a $9.1B collaboration between Sarepta Therapeutics and Arrowhead Pharma. M&A activity was led by full acquisitions and asset purchases, including Lundbeck’s $2.6B acquisition of Longboard Pharmaceuticals, which strengthens Lundbeck’s neuroscience pipeline.
• US IPO market: Experienced a slight dip of approximately 40% in Q4 2024 compared to the previous quarter, with IPO proceeds reaching $711M, down from $1,225M. Septerna, an endocrine/metabolic-focused company, led the top IPOs by raising $331M, followed by Upstream Bio, which specializes in inflammatory therapies, with $293M in upsized offerings.
• Private placements: Remained steady, with significant funding rounds dominated by Series A and seed investments.

Fill out the form below to download the full report for in-depth analysis on the latest deals, funding trends and strategic partnerships driving healthcare innovation.