Two $2bn+ alliances were penned in August. Topping the list was a multi-target deal between Shape Therapeutics and Roche that could exceed $3bn. Through the partnership, ShapeTX will apply its proprietary RNA editing platform RNAfix and potentially leverage its AAVid technology platform for next-generation tissue-specific adeno-associated viruses for the development of gene therapy for certain targets in the areas of Alzheimer’s disease, Parkinson’s disease, and rare diseases. Roche is responsible for the development and worldwide commercialization of any potential products resulting from the collaboration. In the top August M&A by deal value, Sanofi entered into a definitive agreement to acquire all outstanding shares of public messenger RNA therapeutics company Translate Bio for $38.00 per share in cash (a 20% premium to Translate's 10-day pre-announcement market average), which represents a total equity value of approximately $3.2bn. Founded in 2011, Translate Bio is developing a new class of medicines to treat diseases caused by protein or gene dysfunction, or to prevent infectious diseases by generating protective immunity. The company is primarily focused on applying its technology to treat pulmonary diseases with a lead pulmonary candidate being evaluated as an inhaled treatment for cystic fibrosis in a Phase I/II clinical trial. Its MRT platform may be applied to various classes of treatments, such as therapeutic antibodies or vaccines in areas such as oncology. Financing reached $4.4bn in biopharma, $1.5bn in device, and $256m in diagnostics.

Four $2bn+ alliances were penned in July. Topping the list was a potential $2.4bn deal between Arvinas and Pfizer under which the Big Pharma received worldwide co-exclusive rights to develop and commercialize products containing Arvinas’ ARV-471. ARV-471 is in a Phase II dose expansion clinical trial for the treatment of patients with estrogen receptor positive/human epidermal growth factor receptor 2 negative locally advanced or metastatic breast cancer. Preclinical and early clinical data for ARV-471 as a single agent and in combination with Ibrance was a key contributor in Pfizer’s decision to partner with Arvinas.

During the second quarter of 2021, device company M&A values reached $2bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $4.4bn.

During Q2, biopharma merger and acquisition value reached $34.7bn and drew in $33bn in potential deal value from alliances. Device company M&A values reached $2bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $4.4bn.

For the second quarter of 2021, biopharmas brought in an aggregate $42.2bn in financing and device company fundraising totaled $3.1bn; while in vitro diagnostic firms and research tools players raised $5bn.

Six $1bn+ alliances were penned in June. Topping the list was Eisai’s potential $3.1bn collaboration Bristol-Myers Squibb for the co-development and co-commercialization of Eisai’s antibody drug conjugate MORAb-202 in Japan, China, select countries in the Asia-Pacific region, the US, Canada, Europe (including the EU and UK), and Russia. The candidate is in Phase I in Japan and Phase I/II in the US for anti-folate receptor alpha-positive solid tumors.