The following is an excerpt from a story in the Boston Business Journal:
Another good sign: Dealmaking has also increased in the last few months, with more M&A announcements expected heading into 2026 to fill the pipelines of pharma giants.
“M&A activity accelerated in late 2025, signaling a consolidation phase across the biotech sector. Companies are leveraging acquisitions to strengthen their portfolios and accelerate innovation. For us, external partnerships will play a critical role in filling pipeline gaps, especially in areas of high unmet need and emerging technologies,” Fernández Alcalde of EMD Serono noted.
Some of the more recent big purchases included Bristol Myers Squibb’s $1.5 billion buyout of RNA medicines biotech Orbital Therapeutics and Thermo Fisher Scientific’s $8.875 billion deal to buy clinical trial software company Clario Holdings.
Kendalle Burlin O’Connell, CEO of MassBio, said the uptick in venture funding in the second half of 2025, the return of IPOs and increase in exits bodes well for 2026. Her hope is that this money movement continues, and veers more into earlier-stage rounds for more biotech startups, rather than being concentrated in megarounds of capital.