What does 2026 hold?
Review the final paper in the three-part series to gain deeper
insight into global platform positioning and scalable
diagnostics infrastructure heading into 2026.
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Collaborations & Alliances in AI and omics gain prominence
in CDx and oncology.
Beyond outright acquisitions, 2025 saw a flood of
partnerships, licensing deals, and co-development
agreements in life sciences diagnostics. These deals are
often the preferred route for accessing novel technology
or entering new markets without full acquisition.
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Major players turn their M&A sights to platforms and technologies with broad application to drive growth.
Gain deeper insight into M&A resurgence and consolidation and strategic consolidation amid tariff uncertainty.
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H1 2025: Acceleration, Integration, and the Shift from Innovation to Infrastructure
H1 2025 saw sustained Dx deal activity, highlighting
sector resilience despite macroeconomic headwinds. We
identified a total deal volume of 174 across Q1 and Q2,
which was stable year-over-year (vs. 171 in H1 2024), but
deal composition signalled a strategic shift.
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2024: The Year of AI-Driven Early Detection, Multi-Omic Data Integration, and Precision Diagnostics.
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The US biopharma VC landscape has been transformed over the last four years. The free-flowing capital of the pandemic sugar rush era peaked in Q4 2020, after which the IPO window snapped firmly shut in the last quarters of 2022. The next year for biotech was even worse in most respects: IPOs down, VC down, M&A down, licensing deals down. However, despite lower deal numbers and total capital deployment, reported valuations appeared to hold firm and start recovering in late 2023. This white paper provides insightful and in-depth analysis of the US biopharma VC landscape.
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