Trade Sale

Desktop Metal has paid an undisclosed amount to buy UT Dallas spinout Adaptive3D.

York spinout Cizzle Biotechnology has undertaken a reverse merger with Bould Opportunities to list on the London Stock Exchange.

MIT spinout Ginkgo Bioworks will go public through a reverse merger with Soaring Eagle Acquisition Corp to list on the Nasdaq Capital Market.

AbbVie subsidiary Allergan Aesthetics has agreed to acquire Soliton, which is commercialising a cellulite treatment based on research at University of Texas.

The stem cell-transplant technology developer, partly based on Stanford research, is going public through a reverse merger that will give it a $490m market capitalisation.

Athenex will pay $70m upfront and up to $115m in milestone payments to acquire Kuur Therapeutics, providing exits to Baylor College and IP Group.

ICL vascular implant spinout Veryan Medical has been bought by medical device firm Otsuka after raising $56m from investors including IP Group.

Ziylo, a spinout from University of Bristol that is working on a diabetes treatment, has been acquired by Novo Nordisk for a total that could exceed $800m.

VW will invest $100m in QuantumScape and form a joint venture with the Stanford spinout to develop batteries for long-range electric vehicles.

Versant's unusual build-to-buy model has resulted in Roche acquiring a target for MS based on UCSF research and the venture firm launching a new spinout, Pipeline Therapeutics.