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
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