M&A Deal Summary

Galecto Acquires PharmAkea

On January 7, 2020, Galecto acquired life science company PharmAkea from Bay City Capital and Celgene

Acquisition Highlights
  • This is Galecto’s 1st transaction in the Life Science sector.
  • This is Galecto’s 1st transaction in the United States.
  • This is Galecto’s 1st transaction in California.

M&A Deal Summary

Date 2020-01-07
Target PharmAkea
Sector Life Science
Buyer(s) Galecto
Sellers(s) Bay City Capital
Celgene
Deal Type Merger

Target

PharmAkea

San Diego, California, United States
PharmAkea is a biopharmaceutical company and is a developer of high-quality, small molecule drug candidates against protein targets involved in fibroproliferative diseases. PharmAkea was founded in 2012 and is based in San Diego, California.

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Buyer(S) 1

Buyer

Galecto

Copenhagen, Denmark

Category Company
Founded 2011
Sector Life Science
Employees5
DESCRIPTION

Galecto is a clinical-stage biotechnology company committed to the development of novel small molecule therapeutics directed at biological targets that are at the heart of fibrosis, inflammation, and cancer. Galecto was formed in 2011 and is based in Copenhagen, Denmark.


DEAL STATS #
Overall 1 of 2
Sector: Life Science M&A 1 of 2
Type: Merger M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2020 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-11-10 Damora

Waltham, Massachusetts, United States

Damora is a biotechnology company focused on developing therapeutic antibodies targeted at mutant calreticulin (mut-CALR)-driven myeloproliferative neoplasms (MPNs), including essential thrombocythemia (ET) and myelofibrosis (MF). Damora is based in Waltham, Massachusetts.

Buy $285M

Seller(S) 2

SELLER

Bay City Capital

San Rafael, California, United States

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1997
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Bay City Capital LLC was established in 1997 as an equal partnership between The Craves Group and certain Pritzker family business interests for the purpose of managing investment funds in the life sciences industry. Bay City looks for opportunities at all stages of development in biopharmaceuticals, drug discovery, medical devices and diagnostics. Bay City Capital is based in San Francisco, California.


DEAL STATS #
Overall 59 of 63
Sector: Life Science M&A 42 of 46
Type: Merger M&A Deals 2 of 4
State: California M&A 31 of 33
Country: United States M&A 56 of 60
Year: 2020 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-22 Interleukin Genetics

Waltham, Massachusetts, United States

Interleukin Genetics, Inc. is a genetics-based personalized health company that develops genetic tests for use in the emerging personalized health market. Our vision is to build a leading personalized health and wellness company.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-27 Conatus Pharmaceuticals

San Diego, California, United States

Conatus Pharmaceuticals is a biotechnology company focused on the development and commercialization of novel medicines to treat liver disease. Conatus Pharmaceuticals was founded in 2005 and is based in San Diego, California.

Sell -
SELLER

Celgene

Summit, New Jersey, United States

Category Company
Founded 1980
Sector Life Science
Employees6,971
Revenue 13.0B USD (2017)
DESCRIPTION

Celgene Corp. is an integrated biopharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. Celgene Corp. was established in 1980 and is headquartered in Summit, New Jersey.


DEAL STATS #
Overall 3 of 3
Sector: Life Science M&A 2 of 2
Type: Merger M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-26 Otezla

United States

Otezla is a treatment in the post-topical, pre-biologic segment in its approved indications. Otezla is currently approved for three indications in the U.S.—the treatment of patients with moderate-to-severe plaque psoriasis who are candidates for phototherapy or systemic therapy; adult patients with active psoriatic arthritis; and adult patients with oral ulcers associated with Behçet's Disease.

Sell $13.4B