During Q4, biopharma merger and acquisition value reached $35.7bn and drew in $62.1bn in potential deal value from alliances. Device company M&A values reached $19.2bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $4.8bn.

Positive Phase II data indicate that obicetrapib, a cholesterol-lowering drug licensed from Amgen, could succeed where prior drugs in the class have consistently failed for more than a decade.

Boston Scientific announced it will buy medical device company Acotec in an effort to further strengthen its presence in the Chinese market. 

Public Company Edition: NewAmsterdam grossed $328m in its SPAC merger, while Liminatus may raise up to $316m in a new SPAC deal. Also, Intellia and Iveric grossed $300m each in follow-on offerings, bluebird sold a PRV for $102m and MEI ends zandelisib development resulting in layoffs.