Investment Summary |
|
|---|---|
| Date | 2025-10-22 |
| Target | Imcheck Therapeutics |
| Sector | Life Science |
| Investor(s) | Ipsen |
| Sellers(s) |
GIMV
Bpifrance Investissement Andera Partners EQT Life Sciences |
| Deal Type | Add-on Acquisition |
| Advisor(s) | Centerview Partners (Financial) Goodwin Procter Dentons (Legal) |
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| Category | Company |
|---|---|
| Founded | 1929 |
| Sector | Life Science |
| Employees | 5,358 |
| Revenue | 3.6B EUR (2024) |
Ipsen is a research and development pharmaceutical company. It manufactures specialty pharmaceuticals and has a worldwide sales presence. Ipsen focuses on products in the gastro-enterology, neurology and cardiovascular therapeutic areas and has also developed specific expertise in some biotech niches such as endocrinology, oncology, neurology and hematology. Ipsen was founded in 1929 and is based in Boulogne-Billancourt, France.
| DEAL STATS | # |
|---|---|
| Overall | 12 of 12 |
| Sector: Life Science M&A | 12 of 12 |
| Type: Add-on Acquisition M&A Deals | 9 of 9 |
| Country: France M&A | 2 of 2 |
| Year: 2025 M&A | 1 of 1 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2023-01-09 |
Albireo
Boston, Massachusetts, United States Albireo is a rare disease company focused on the development of novel bile acid modulators to treat pediatric and adult liver diseases. Albireo’s lead product, Bylvay, was approved by the U.S. FDA as the first drug for the treatment of pruritus in all types of progressive familial intrahepatic cholestasis (PFIC), and in Europe for the treatment of PFIC. Bylvay is also being developed to treat other rare pediatric cholestatic liver diseases with a completed Phase III trial in ALGS, an ongoing Phase III study in biliary atresia, as well as Open-label Extension (OLE) studies for PFIC and ALGS. The company has also completed a Phase I clinical trial for A3907 to advance development in adult cholestatic liver disease, with IND-enabling studies progressing with A2342 for viral and cholestatic liver disease. Albireo was spun out from AstraZeneca in 2008 and is headquartered in Boston, Massachusetts, with its key operating subsidiary in Gothenburg, Sweden. |
Buy | $952M |
| Category | Private Equity Firm |
|---|---|
| Founded | 1980 |
| PE ASSETS | 2.0B EUR |
| Size | Large |
| Type | Sector Agnostic |
GIMV is a Belgium based public investment company focused on private equity and venture capital investments in tech-based businesses. GIMV's private equity practice operates through its Corporate Investment unit and targets management buyouts, buy-ins, and growth capital financings of companies with annual sales between EUR15 and EUR150 million. For buyout opportunities GIMV generally takes a majority stake in businesses and for growth capital needs, GIMV takes a minority position. GIMV does not invest in publicly held companies or turnaround situations. GIMV's geographic focus is within Belgium, Netherlands, Germany, and France. GIMV also invests in Russia through Eagle Capital Partners, a partnership with KBC Private Equity. GIMV was formed in 1980 and is headquartered in Antwerp with additional offices in The Hague, Frankfurt, Munich, and Paris.
| DEAL STATS | # |
|---|---|
| Overall | 111 of 111 |
| Sector: Life Science M&A | 13 of 13 |
| Type: Add-on Acquisition M&A Deals | 58 of 58 |
| Country: France M&A | 21 of 21 |
| Year: 2025 M&A | 2 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-07-22 |
Hemink
Holten, Netherlands Hemink is a growing B2B energetic renovation & maintenance specialist. The company specialises in circular project approaches and results-oriented property maintenance, with a specific focus on large-scale and extensive sustainable renovation projects. Hemink was founded in 1958 and is based in Holten, Netherlands. |
Buy | - |
| DEAL STATS | # |
|---|---|
| Overall | 21 of 21 |
| Sector: Life Science M&A | 1 of 1 |
| Type: Add-on Acquisition M&A Deals | 6 of 6 |
| Country: France M&A | 21 of 21 |
| Year: 2025 M&A | 2 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-10-16 |
Brifer
La Houssaye en Brie, France Brifer is specializing in the installation and maintenance of railway branch lines (ITE) in their entirety (terminals, railway tracks, gantries, overhead cranes, level crossings). Brifer founded in 1988 and is headquartered in La Houssaye-en-Brie, France. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 2001 |
| PE ASSETS | 3.7B EUR |
| Size | Large |
| Type | Sector Agnostic |
Andera Partners is a private investment firm focused on several strategies. The Firm invests in life science opportunities through its BioDiscovery group. The Firm invests in Western European small to mid-sized companies (€30 to €300 million of revenue) through its Winch Capital group. Andera invests in small to mid-sized French companies (€10 to €100 million of revenue) through its Cabestan Capital team. Andera invests in €5 to €45 million of mezzanine capital to support small to mid-sized French companies. Andera Partners was established in 2001 and is headquartered in Paris.
| DEAL STATS | # |
|---|---|
| Overall | 42 of 42 |
| Sector: Life Science M&A | 8 of 8 |
| Type: Add-on Acquisition M&A Deals | 15 of 15 |
| Country: France M&A | 31 of 31 |
| Year: 2025 M&A | 1 of 1 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2024-11-20 |
Kyotherm
Paris, France Kyotherm specializes in the co-development and financing of decarbonization projects using renewable heat, energy efficiency, and flexibility for industrial and commercial customers. Kyotherm was founded in 2011 and is based in Paris, France. |
Sell | - |
| Category | Growth Capital Firm |
|---|---|
| Founded | 1987 |
| PE ASSETS | 3.5B EUR |
| Size | Large |
| Type | Sector Focused |
EQT Life Sciences (formerly Life Science Partners) is a private investment firm focused on growth and venture capital financing for life sciences and healthcare companies. The Firm targets early to mid?stage companies in sectors such as therapeutics, medical devices, diagnostics, healthtech, and biotech. EQT Life Sciences was formed in 1986 and is headquartered in Amsterdam, the Netherlands.
| DEAL STATS | # |
|---|---|
| Overall | 9 of 9 |
| Sector: Life Science M&A | 5 of 5 |
| Type: Add-on Acquisition M&A Deals | 7 of 7 |
| Country: France M&A | 2 of 2 |
| Year: 2025 M&A | 2 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-09-16 |
VarmX
Leiden, Netherlands VarmX is a biotech company focusing on the development of innovative approaches for the reversal of anticoagulation. VarmX was founded in 2016 and is based in Leiden, Netherlands. |
Sell | $2.2B |
