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Deals in Depth: September 2023

 
• By Deanna Kamienski and Maureen Riordan

Six $1bn+ alliances were penned in September. Topping the list was a potential $3.46bn multi-year deal between Nurix Therapeutics and Seagen to advance a new class of medicines called Degrader-Antibody Conjugates for use in cancer. The collaboration will focus on an innovative approach to combine two powerful technologies to target cancer – antibody-drug conjugation and targeted protein degradation – with the goal of creating drugs with new mechanisms of action as well as improved specificity and anti-cancer activity.

Deals In Depth

 In the top September M&A by deal value, Enovis entered into a definitive agreement to acquire LimaCorporate for an enterprise value of approximately $851.48m in cash and stock. Lima is a privately held orthopedic company focused on restoring motion through a portfolio of implant solutions. The company specializes in additive manufacturing, including its proprietary trabecular titanium (TT) technology. The addition of Lima will give Enovia a complementary portfolio of proven surgical solutions and technologies, including 3D printed TT and a comprehensive revision offering. Financing reached $12.5bn in biopharma, $233m in device, and $487m in diagnostics.

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