Big week for M&A brings three rare disease takeouts: Deals Report

Biotech kicked off the year’s second half with the takeouts of at least four biotechs, with offers adding up to nearly $13 billion. At least three of the deals centered on rare disease: the proposed acquisitions of Crinetics by Vertex and Thymmune by United Therapeutics and the purchase of Memo by Ipsen.

On Tuesday, Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) announced the proposed acquisition of Crinetics Pharmaceuticals Inc. (NASDAQ:CRNX), giving the pharma marketed acromegaly therapy Palsonify paltusotine — an SSTR2 agonist — and Phase III endocrine therapy atumelnant — an oral MC2R antagonist. Vertex is paying $85 per share to acquire Crinetics, giving Crinetics an equity value of $10 billion; net of cash, the price adds up to $8.8 billion...