Life science news 11 May 2026: M&A momentum, artificial intelligence diagnostics and a record week for deal-making define an active seven days for the global life science industry.
The week of 4 to 10 May 2026 produced a dense cluster of major acquisitions, a landmark IPO, and a significant UK investment reversal, confirming that the life sciences sector is sustaining the pace of activity that has characterised 2026 so far. Five deals were announced or confirmed totalling more than $11 billion, a high-profile autoimmune biotech debuted on the Nasdaq, and AstraZeneca’s reversal on UK investment signalled a shifting commercial environment for the British life sciences industry.
UCB announced on 3 May that it will acquire Candid Therapeutics, a privately held clinical-stage biotech developing T-cell engager therapies for autoimmune and inflammatory diseases, for up to $2.2 billion. The Belgian pharmaceutical company will pay $2 billion upfront, with up to $200 million in potential future milestone payments. The deal centres on Candid’s lead asset, cizutamig, a bispecific antibody targeting BCMA on plasma cells and CD3 on T-cells simultaneously, designed to recruit the immune system to eliminate disease-driving B-cell populations. Clinical data from more than 100 patients across multiple myeloma and autoimmune disorders support the programme, which is being evaluated across more than ten indications. Closing is expected by end of Q2 or early Q3 2026, subject to antitrust clearance.
Italian pharmaceutical company Angelini Pharma agreed on 7 May to acquire Florida-based Catalyst Pharmaceuticals for approximately $4.1 billion in cash, paying $31.50 per share, a 28% premium to Catalyst’s 30-day volume-weighted average price as of 22 April. The deal marks Angelini’s entry into the United States market and expands its rare disease and neuroscience portfolio with three approved products: Firdapse for Lambert-Eaton myasthenic syndrome, which generated $358 million in US sales in 2025; Agamree for Duchenne muscular dystrophy; and Fycompa for focal seizures. Catalyst reported full-year 2025 revenues of $589 million, up 20% year-on-year, with 2026 guidance of between $615 million and $645 million. The transaction is expected to close in the third quarter of 2026 and has been unanimously approved by both boards.
Bayer announced on 6 May that it will acquire San Francisco-based Perfuse Therapeutics for up to $2.45 billion, comprising a $300 million upfront payment and additional development, regulatory, and commercial milestone payments. The deal is Bayer’s first biopharma acquisition in several years, and its largest since the purchase of AskBio in 2020. Perfuse’s lead asset, PER-001, is a small molecule endothelin receptor antagonist currently in Phase II development for glaucoma and diabetic retinopathy, two conditions that together affect more than 220 million people globally. Unlike existing treatments that primarily reduce intraocular pressure, PER-001 is being studied for its ability to improve retinal blood flow and prevent cell death. Bayer faces growing biosimilar competition for its ophthalmology franchise Eylea and has been seeking to diversify its eye disease pipeline.
Roche agreed on 7 May to acquire PathAI, a Boston-based digital pathology and artificial intelligence company, for $750 million upfront with up to $300 million in milestone payments, bringing the potential total to $1.05 billion. PathAI’s platform uses AI models to analyse patient tissue samples, support clinical trials, and enable biomarker discovery. The acquisition builds on a partnership between the two companies established in 2021 and subsequently broadened to include the development of AI-enabled companion diagnostic algorithms. Roche Diagnostics chief executive Matt Sause said the deal would combine PathAI’s tools with Roche’s oncology diagnostics platforms to deliver better insights for clinicians and potentially improve patient outcomes. The transaction is expected to close in the second half of 2026, subject to antitrust approvals.
GSK announced on 6 May a worldwide exclusive licensing agreement with Chinese biotech SiranBio for SA030, an early-stage small interfering RNA therapy targeting the ALK7 receptor to reduce cardiometabolic risk in patients with chronic inflammatory conditions affecting the liver, lung, and kidneys. GSK will pay $55 million upfront with total potential milestones of up to $1.005 billion, plus tiered royalties on net sales in licensed territories outside mainland China. SA030 is designed to reduce visceral adipose tissue while preserving lean mass, an approach the companies describe as complementary to GLP-1 and SGLT2 inhibitor therapies. SiranBio will complete Phase I development before GSK assumes responsibility for international clinical development, regulatory filings, and commercialisation. The deal is GSK’s second siRNA licensing agreement with a Chinese biotech in recent months.
BioNTech announced on 5 May that it will close manufacturing facilities in Idar-Oberstein, Marburg, and Tübingen in Germany, as well as a site in Singapore, by the end of 2027, with the Singapore closure expected in the first quarter of that year. The closures will affect up to 1,860 employees. The German biotech attributed the restructuring to falling demand for its Covid-19 vaccine Comirnaty and the strategic need to redirect capital toward its oncology pipeline. Pfizer will assume full responsibility for manufacturing Comirnaty globally from the end of 2026. BioNTech expects the closures to generate up to €500 million in recurring annual savings by 2029. The company reported a first-quarter 2026 net loss of €531.9 million on revenues of €118.1 million, and separately announced a $1 billion share buyback programme. Co-founders Ugur Sahin and Özlem Türeci are also due to leave by the end of 2026 to establish a new mRNA-focused venture.
Odyssey Therapeutics priced an upsized initial public offering of 15.5 million shares at $18.00 each on 7 May, raising approximately $304 million including a concurrent private placement to an affiliate of TPG Life Sciences Innovations. The Boston-based clinical-stage biotech, which focuses on autoimmune and inflammatory diseases, began trading on the Nasdaq Capital Market on 8 May under the ticker ODTX. Shares fell 8.8% on debut, though the deal remained significant as the eleventh biotech IPO of 2026. According to BioPharma Dive data, nine of those eleven companies raised at least $250 million, the most in a single year since 2021, reflecting continued investor appetite for the sector.
AstraZeneca confirmed last week during its first-quarter 2026 earnings call that it will resume a previously frozen £300 million UK investment programme. Chief executive Pascal Soriot explicitly linked the decision to two policy developments: the US-UK pharmaceutical arrangement concluded in April, under which UK prescription drugs are exempt from US tariffs for three years in exchange for increased NHS medicines spending; and a revised NHS rebate rate for new medicines of 14.5% in 2026, down from 22.9% in 2025. The investment covers the resumption of a £200 million expansion at Cambridge Biomedical Campus, centred on the completion of a six-storey Rosalind Franklin building expected to employ around 1,000 staff, plus an additional £100 million for AstraZeneca’s Macclesfield site to develop a digital drug development laboratory. UK Prime Minister Sir Keir Starmer described the announcement as a “major vote of confidence” in the UK. Merck & Co. has not yet reversed its decision to withdraw from a planned £1 billion London R&D facility.
That’s your life science news digest for 11 May 2026 – back next Monday with the latest from pharma, biotech and healthcare at www.lifesciencedaily.news.
Missed last week’s roundup? Read the Weekly News Roundup for 4 May 2026 here.
This weekly digest is produced by the Life Science Daily News editorial team. All stories are selected and written independently.
