Biotech Startup M&A Is Reliably Delivering Some Big Exits
• Over past two years, biotech M&A exceeded $38B, surpassing many historic tech exits. • 2026 kickoff: Eli Lilly to pay up to $2.4B for Orna Therapeutics, boosting in‑vivo cell the
Invitro
• Over past two years, biotech M&A exceeded $38B, surpassing many historic tech exits. • 2026 kickoff: Eli Lilly to pay up to $2.4B for Orna Therapeutics, boosting in‑vivo cell the