Financing: 2020 Ends On A High Note For Medtech
A look at financing activity across the medical device and in vitro diagnostics industries, October-December 2020
During Q4, device company fundraising totaled $4.2bn; while in vitro diagnostic firms and research tools players raised $6.1bn.
You may also be interested in...
Nano-X Imaging is on a mission to disrupt the market for X-ray imaging equipment by offering a low-cost medical imaging service to untapped markets through a network of equipment dotted around the world. However, some shareholders are claiming the company mislead investors.
BridgeBio Pharma’s affiliate QED Therapeutics granted and Helsinn Group exclusive global rights (excluding Greater China) to the FGFR1-3 inhibitor infigratinib in oncology and all other indications except skeletal dysplasias (including achondroplasia). BridgeBio could see up to $2.45bn in payments from the deal, including over $100m in up-front, regulatory, and launch payments, and the remainder in sales milestones. In the month’s top M&A, Amgen entered into an agreement to acquire fellow public biotech Five Prime Therapeutics for about $1.9bn, gaining Phase III-ready bemarituzumab for frontline advanced gastric or gastroesophageal junction cancer.
During Q4, medical device company M&A values reached $5.7bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $3.3bn.