Avant View

AVANT VIEW Quarterly Report Q3 2024

M&A activity in Q3 returned to a stable baseline as compared to Q2 and more aligned with levels we were seeing in early 2024.  M&A activity in Q3 2024 saw several high-profile transactions:

On the public markets front:

  • Vaxcyte successfully raised $1.05B through a secondary public offering in September, demonstrating strong market interest in vaccine development companies

VC Activity

Venture capital activity in Q3 2024 continued to show resilience, with several noteworthy deals:

    Avant View

    The life science industrials sector continued to navigate a selective financing environment in Q3 2024, with investors maintaining their focus on companies demonstrating a balance of growth potential and clear paths to profitability. While the summer months saw a handful of deals closing, overall activity remained subdued. However, September ushered in a notable surge of momentum and energy, with deal flow increasing significantly as numerous firms initiated fundraising efforts. Industry events such as BPI and BioTools Innovator showcased a general sense of optimism, reflecting the sector’s resilience and potential for innovation. Despite these positive indicators, the overall pace of recovery remains measured, underscoring the persistent challenges in the market.

    Looking ahead, the outlook is cautiously optimistic with several encouraging trends emerging. The slowly recovering biotech and pharmaceutical market is beginning to positively impact tools players, with a gradual uptick in M&A activity. Notably, there’s been an increase in commercial activity, with customers showing renewed engagement and large strategic players reporting improvements in bookings. This resurgence in customer demand signals potential opportunities for growth and expansion in the coming quarters. However, it’s important to note that while these positive indicators are promising, the overall recovery remains slow.

    Top Headlines

    Agilent to Acquire Canada based CDMO BIOVECTRA for $925M

    Agilent Technologies has signed an agreement to acquire BIOVECTRA, a leading North American contract development and manufacturing organization (CDMO), for $925 million. This acquisition will expand Agilent’s biopharma services, including biologics, pDNA, mRNA, and lipid nanoparticle formulation. BIOVECTRA brings expertise in growing fields such as antibody-drug conjugates and gene-editing technologies, strengthening Agilent’s capabilities in drug discovery and manufacturing. The deal is expected to close before 2025, subject to regulatory approval.

    New Medicare Drug Prices Revealed as Part of IRA: Saving Millions for Patients

    The Biden administration has finalized Medicare price reductions for 10 key drugs, with cuts ranging from 38% to 79%. These negotiations, part of the Inflation Reduction Act (IRA), are set to save Medicare $6 billion in 2026 and reduce out-of-pocket costs for millions of enrollees. The price cuts apply to widely used treatments for conditions like diabetes and heart failure, including Januvia and Imbruvica. Additional drug negotiations are planned for 2025, continuing efforts to make life-saving medications more affordable.

    Other News

    M&A

    Illumina acquires Fluent BioSciences to accelerate single-cell analysis and discovery

    Element Biosciences, Inc raises over $277M Series D to develop disruptive DNA sequencing and multi-omics technologies

    Repligen targets new modalities with plans to acquire chromatography innovator Tantti

    All News

    Element Biosciences, Inc raises over $277M Series D to develop disruptive DNA sequencing and multi-omics technologies

    PathPresenter Closes $7.5M Series A Funding Led by AVANT BIO

    CytoReason Secures $80M to Scale Its AI Disease Models and Establish US Footprint

    Nomic Secures $42M in Oversubscribed Series B to Expand Access to Protein Profiling

    Sartorius says post-pandemic normalization is not yet completed, sighting volatility and a rundown of inventory levels

    AVANT BIO Announces Participation in PL Bioscience’s €7.8 million Series A Financing Round

    Biosecure Act passes through House and moves to Senate

    Cellares / Sony collaboration to integrate flow cytometry sorting and online analysis into an automated cell therapy manufacturing platform