In a world where AI unicorns are securing valuations in the tens and hundreds of billions of dollars, biotech startups can’t compete for giant rounds. But while the space may be lower-profile, it’s still steadily generating M&A outcomes that look high by other historic standards. Over the past two calendar years, acquirers have agreed to pay more than $38 billion to purchase venture-backed companies in Crunchbase biotech industry categories. So far, 2026 is off to a brisk start as well, with Eli Lilly agreeing this month to pay up to $2.4 billion for Orna Therapeutics, a startup focused on engineering immune cells in vivo.
Read the full article: Biotech Startup M&A Is Reliably Delivering Some Big Exits //
Source: https://news.crunchbase.com/health-wellness-biotech/startup-ma-ipo-delivering-exits/