Biotech deals are shrinking in size as Big Pharma shies away from blockbuster transactions. For the year to date, the average deal size has sunk to USD 234m, according to Mergermarket data. That is the lowest level since 2017. After the exuberant valuations of 2021, the biotech market has been in a downturn. “Transaction size is smaller because there are a lot of distressed assets. There are so many companies out there available for a low price,” said Pacylex Pharmaceuticals CEO Michael Weickert. Many expect an increase in down rounds as startups are forced to reset to more reasonable valuations in the year ahead.
Read the full article: Biotech Deal Size Falls to Smallest Since 2017, but Recovery Looms //
Source: https://ionanalytics.com/insights/mergermarket/biotech-deal-size-falls-to-smallest-since-2017-but-recovery-looms-dealspeak-north-america/