M&A Transactions
Verve Therapeutics / Eli Lilly: The company was acquired by Eli Lilly for approximately $1.3 billion on July 25, 2025. Verve Therapeutics is a clinical-stage company developing a new class of genetic medicines for cardiovascular disease, with the potential to transform treatment from chronic therapies to single-course gene editing medicines.
Iodine Software / Waystar Health: The company reached a definitive agreement to be acquired by Waystar Health for $1.25 billion on July 23, 2025. The company is a developer of a clinical documentation integrity software intended for clinicians and hospital administrators.
Life Molecular Imaging / Lantheus Medical Imaging: The company was acquired by Lantheus Medical Imaging for approximatley $780 million on July 22, 2025. The company is a developer of novel PET tracers designed for molecular imaging research and development services.
Inmagene / Ikena Oncology: The company acquired Ikena Oncology through a reverse merger for $100 million, resulting in the combined entity trading on the NASDAQ under the ticker symbol IMA on July 25, 2025. ImageneBio Inc is a clinical-stage biopharmaceutical company that develops differentiated therapies for immunological and inflammatory diseases.
Artinis Medical Systems / Gilde Healthcare: The company was acquired by Gilde Healthcare through an LBO on July 24, 2025 for an undisclosed amount. The company is a developer of medical devices designed to simplify optical imaging.
Greater Than One / Real Chemistry: The company was acquired by Real Chemistry, via its financial sponsors Coller Capital, New Mountain Capital and White Peaks Capital, through an LBO on July 22, 2025 for an undisclosed amount. The company is an operator of a media marketing and technology agency catering to the healthcare sector.
Ikena Oncology / Inmagene: The company was acquired by Inmagene through a reverse merger for an undisclosed amount on July 25, 2025. Ikena Oncology Inc is a targeted oncology company developing precision therapies for patients in need that target nodes of cancer growth, spread, and therapeutic resistance in the Hippo and RAS onco-signaling network.
iTeos Therapeutics / Concentra Biosciences: The company reached a definitive agreement to be acquired by Concentra Biosciences for an undisclosed amount on July 21, 2025. ITeos Therapeutics Inc is a biopharmaceutical company that designs novel product candidates with optimized pharmacologic properties to improve clinical outcomes by restoring the immune response against cancer.
Velocity Medtech / Straits Orthopaedics: The company was acquired by Straits Orthopaedics, via its financial sponsor Quadria Capital, through an LBO on July 24, 2025 for an undisclosed amount. The company is a manufacturer of sterilization cases and trays intended for orthopedic surgical instruments and implants.
ViceBio / Sanofi: The company reached a definitive agreement to be acquired by Sanofi for an undisclosed amount on July 22, 2025. The company is a developer of innovative vaccines designed to target respiratory viral infectious diseases.
Source: Pitchbook Data, Inc.
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