For deal sourcers, staying current on private company activity is critical to spotting active buyers, tracking market trends, and uncovering emerging investment opportunities ahead of competitors.
In April alone, we added more than 2,000 new private company transactions, bringing the total to over 22,000 searchable deals across sectors, industries, and transaction types in Dakota Marketplace.
Inside Dakota Marketplace, you’ll find the transactions tab that provides structured, filterable data on deal types, values, and dates, while our editorial team curates daily updates through the Dakota transactions newsletter, helping you cut through the noise and focus on what matters most.
To ensure the most comprehensive coverage of private market activity, Dakota monitors over 10,000 websites including company websites, newswires, and numerous third-party news providers to capture and verify transaction data as it happens.
Below are the top 10 health care transactions.
- Transaction Date: 4/20/2026
- Industry: Biotechnology
- Type: Acquisition / Merger
- Transaction Value: $7B
Eli Lilly announced a definitive agreement to acquire Kelonia Therapeutics for up to $7 billion — $3.25 billion upfront plus milestone-based payments — gaining Kelonia's in vivo gene placement system (iGPS®) and lead program KLN-1010, an intravenous anti-BCMA CAR-T therapy in Phase 1 for multiple myeloma. The acquisition expands Lilly's genetic medicine capabilities with a platform that bypasses the manufacturing complexity and access barriers of traditional ex vivo CAR-T therapy, with closing expected in the second half of 2026.
- Transaction Date: 4/7/2026
- Industry: Biotechnology
- Type: Acquisition / Merger
- Transaction Value: $5B
Gilead Sciences announced a definitive agreement to acquire German biotech Tubulis for up to $5 billion — $3.15 billion upfront plus $1.85 billion in milestone payments — gaining lead asset TUB-040, a NaPi2b-directed topoisomerase-I inhibitor ADC in Phase 1b/2 for platinum-resistant ovarian cancer and non-small cell lung cancer, alongside the Tubutecan linker-payload platform. The acquisition expands Gilead's antibody-drug conjugate capabilities and establishes Tubulis' Munich site as a dedicated ADC research hub, with the deal expected to close in Q2 2026.
- Transaction Date: 4/27/2026
- Industry: Biotechnology
- Type: Acquisition / Merger
- Transaction Value: $4.8B
BioMarin completed its acquisition of Amicus Therapeutics for approximately $4.8 billion ($14.50 per share) in a deal that closed in April 2026, adding Galafold® for Fabry disease, Pombiliti® + Opfolda® for Pompe disease, and U.S. rights to Phase 3 candidate DMX-200 for focal segmental glomerulosclerosis. The acquisition strengthens BioMarin's lysosomal storage disorder portfolio with two commercial therapies generating $599 million in trailing twelve-month revenue, and is expected to be accretive to non-GAAP EPS within 12 months of close.
- Transaction Date: 4/6/2026
- Industry: Biotechnology
- Type: Acquisition / Merger
- Transaction Value: $2.9B
Neurocrine Biosciences announced a definitive agreement to acquire Soleno Therapeutics for $53.00 per share in cash, representing a total equity value of $2.9 billion, gaining VYKAT™ XR — the first FDA-approved therapy for hyperphagia in Prader-Willi syndrome, which generated $190 million in 2025 revenue. The acquisition adds a third commercial first-in-class therapy to Neurocrine's portfolio alongside INGREZZA® and CRENESSITY®, strengthening its leadership in endocrinology and rare disease, with closing expected within 90 days.
- Transaction Date: 4/23/2026
- Industry: Pharmaceuticals
- Type: Acquisition / Merger
- Transaction Value: $2.5B
Servier completed its acquisition of Day One Biopharmaceuticals for approximately $2.5 billion ($21.50 per share) in a deal that closed in April 2026, adding OJEMDA™ (tovorafenib) — the FDA-approved targeted therapy for pediatric low-grade glioma, the most common childhood brain tumor — to Servier's oncology portfolio. The acquisition strengthens Servier's position in rare oncology and expands its pipeline with Day One's clinical-stage programs, including Emi-Le (emiltatug ledadotin), a novel antibody-drug conjugate, and DAY301.
- Transaction Date: 4/27/2026
- Industry: Biotechnology
- Type: Acquisition / Merger
- Transaction Value: $2.3B
Eli Lilly announced a definitive agreement to acquire Ajax Therapeutics for up to $2.3 billion — an upfront cash payment plus contingent clinical and regulatory milestones — gaining AJ1-11095, a first-in-class Type II JAK2 inhibitor in Phase 1 development for myelofibrosis and polycythemia vera. The acquisition expands Lilly's blood cancer pipeline with a differentiated mechanism designed to deliver deeper and more durable efficacy than approved Type I JAK2 inhibitors, with clinical proof-of-concept data expected later in 2026.
- Transaction Date: 3/16/2026
- Industry: Health Care Providers & Services
- Type: Buyout / Private Equity
- Transaction Value: $1.8B
THL Partners agreed to acquire a majority stake in Celerion from H.I.G. Capital for approximately $1.8 billion, gaining a global clinical pharmacology and bioanalytical sciences provider specializing in Phase 1 first-in-human dose escalation, drug-drug interaction, cardiac safety, and bioequivalence studies for pharmaceutical and biotechnology customers. The transaction strengthens THL's pharma services platform, leveraging Celerion's integrated clinical and bioanalytical capabilities across North America and Europe, with closing expected in 2026.
- Transaction Date: 4/17/2026
- Industry: Biotechnology
- Type: Acquisition / Merger
- Transaction Value: $1.15B
UCB announced a definitive agreement to acquire Neurona Therapeutics for up to $1.15 billion — $650 million upfront plus up to $500 million in milestone payments — gaining NRTX-1001, a regenerative neuronal cell therapy in Phase I/II development for drug-resistant mesial temporal lobe epilepsy that has received FDA RMAT and EMA PRIME designations. The acquisition extends UCB's 30-year epilepsy leadership into regenerative medicine with a single-dose stem cell therapy designed to restore compromised neural circuitry, with closing expected by end of Q2 2026.
- Transaction Date: 4/14/2026
- Industry:Medical Care Supplies
- Type: Buyout / Private Equity
- Transaction Value: $1.27B
Avanos Medical announced a definitive agreement to be acquired by American Industrial Partners for approximately $1.272 billion ($25.00 per share) in an all-cash go-private transaction, representing a 72.1% premium to Avanos' prior-day closing share price. The transaction takes the medical technology company private, pairing Avanos' enteral nutrition and non-opioid pain management portfolios with AIP's $17.5 billion industrials platform, with closing expected in the second half of 2026.
- Transaction Date: 4/20/2026
- Industry: Health Care Providers & Services
- Type: Acquisition /Merger
- Transaction Value: $1.225B
McKesson announced a definitive agreement under which Apollo Funds will invest $1.25 billion in convertible preferred equity of McKesson's Medical-Surgical Solutions (MMS) business for an approximately 13% minority interest, valuing MMS at approximately $13 billion. The investment marks a key milestone in McKesson's planned separation of MMS ahead of a planned IPO, with McKesson retaining operating control and majority ownership of the medical-surgical supply business serving non-acute care settings.
At Dakota, we understand how important it is to stay current on deal activity as it happens. That’s why our editorial team continuously monitors the news for real-time updates on platform investments, add-ons, divestitures, and more to deliver daily highlights straight to your inbox through our transactions newsletter.
Inside Dakota Marketplace, the transactions tab provides structured, filterable data with deal dates, types, sectors, and financials, allowing you to build a customized feed that aligns with your focus areas.
Whether you're evaluating a new investment opportunity or tracking trends within a target sector, Dakota Marketplace helps you cut through the noise and focus on what matters most.
For more information on these transactions and a deeper dive into their industries and sub-industries, book a demo of Dakota Marketplace.
