Deals In Depth: May 2023

Four $1bn+ alliances were penned in May. Topping the list was a potential $2bn deal between Bliss Biopharmaceutical and Eisai for BB-1701, which is currently in Phase I/II studies in the US and China for various types of cancers. Both parties will conduct co-development activities related to BB-1701 through an option period. Should Eisai exercise its option, it would receive worldwide rights (excluding Greater China) to develop and commercialize BB-1701.

Deals In Depth

In the top May M&A by deal value, Astellas Pharma entered into a definitive agreement to acquire Iveric Bio for $40.00 in cash per share, which imputes a total equity value of approximately $5.9bn. Iveric’s ophthalmology pipeline is led by its complement C5 inhibitor Zimura (avacincaptad pegol (ACP)) to treat geographic atrophy secondary to age-related macular degeneration. Iveric’s other candidates include preclinical IC-500 for AMD and research-stage adenovirus vector-based gene replacement therapy programs in eye disorders. Iveric's ophthalmologic capabilities will strengthen Astellas' mission to create innovative drugs, including blindness and regeneration, one of its five areas of primary focus. The deal also aims to bolster Astella's portfolio as it faces loss of exclusivity for its blockbuster prostate cancer drug Xtandi in 2030. Financing reached $10.9bn in biopharma, $975m in device, and $383m in diagnostics.

Top Alliances In May 2023

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on In Vivo for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Deal-Making

Behind The Buyout: Dispatches From The Dealmaking Table

 
• By 

In a challenging funding environment for biopharma, strategic dealmaking has become a critical growth engine. In Vivo explores what it truly takes to navigate high-stakes acquisitions and partnerships, drawing on insights from seasoned industry leaders.

Deals Shaping The Industry, May 2025

 
• By 

An interactive look at pharma, medtech and diagnostics deals made during May 2025. Data courtesy of Biomedtracker.

Bringing Israeli Medical Device Candidates To The Right Partners In The US

 
• By 

Despite regional unrest, it is business as usual for medtech innovators and investors in Israel as evidenced by continued high-value M&A of locally developed technologies. Irit Yaniv, co-chair of the medtech session at the upcoming BioMed Israel 2025, explained the unique dynamics of Israeli medtech innovation.

Deals In Depth: April 2025

 
• By 

Four $1bn+ alliances were penned in April, and one exceeded $2bn.

More from In Vivo

Crisis Or Opportunity? US MFN Policy Could Test Japan’s Appetite For Reforms

 
• By 

While the adoption of most favored nation drug pricing in the US stands to affect Japanese biopharma firms now heavily reliant on this market, it might also present an opportunity for pricing and policy reforms at home.

Rising Leaders 2025: Ovid’s Meg Alexander On Neurology’s Next Frontier

 
• By 

Ovid Therapeutics' president and COO Meg Alexander is leading the company’s strategic pivot toward innovative neurological treatments, potentially creating a new class of medicines for rare neurological disorders.

The Goldilocks Isotope: Perspective Therapeutics’ ‘Just Right’ Alpha Radiotherapeutic

 
• By 

Thijs Spoor's bet on lead-212 is paying off as Perspective Therapeutics advances three clinical programs with promising early efficacy signals and a comprehensive manufacturing strategy.