In the top M&A, Boston Scientific entered into a definitive agreement to acquire Axonics, which is focused on the development and commercialization of differentiated devices to treat urinary and bowel dysfunction. The purchase price is $71 in cash per share, reflecting an enterprise value of approximately $3.4bn. Axonics' portfolio includes the Axonics R20 and the Axonics F15 systems used to deliver sacral neuromodulation therapy, a minimally invasive procedure used in the treatment of overactive bladder and fecal incontinence. Financing reached $10.2bn in biopharma, $793.9m in device, and $195.5m in diagnostics.
Deals in Depth: January 2024
Ten $1bn+ alliances were penned in January. In the top alliance by deal value, Shanghai Argo Biopharmaceutical entered into exclusive collaboration with Novartis Pharma for two undisclosed Argo cardiovascular disease programs, one in Phase I and another in Phase I/IIa. Novartis gets an exclusive global license to develop and commercialize the Phase I program and also receives an option to potentially license compounds directed against up to two additional targets. For the Phase I/IIa program, Novartis gets an exclusive license worldwide except in Greater China. The deal could be worth up to $4.17bn for Argo.
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