Cartesian Therapeutics ATM: A Guide by Leerink Partners
Healthcare M&A activity saw an uptick in Q3 of 2024, jumping to 33 transactions from 21 in the previous year. Among healthcare sectors, Healthcare Services took the lead, accounting for 42% of the deals, with the standout being TowerBrook and CD&R’s $8.3B acquisition of R1 RCM. In the Biopharma realm, transaction volume inched up to 10 deals, compared to 9 in 2023, but the total value slipped from $13 billion to $9 billion, with Oncology emerging as the top therapeutic area.
Looking ahead, the Biopharma M&A landscape is expected to stay active, particularly as major biopharmaceutical companies aim to plug revenue and pipeline gaps through acquisitions of development-stage firms. Both private and publicly traded pre-commercial biopharma companies are likely to explore various strategic options, from partnerships to mergers and sales. With an improving macroeconomic outlook and supportive capital markets, private development-stage firms could increasingly consider IPOs.
