During Q2, biopharma merger and acquisition value reached $25.4bn and drew in $27.3bn in potential deal value from alliances. Device company M&A values reached $2.7bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $534.3m.

Roche is paying $125m upfront to in-license potential blockbuster lead candidate camonsertib from Repare, which calls it a best-in-class ATR inhibitor and has the chance to opt back in on US commercialization.

Deal Snapshot: The drug maker is betting $30m up front and up to $1.1bn in milestone fees for an increasingly popular approach to oncology drug development.

Public Company Edition: Entrada’s initial public offering grossed $181.5m while Aura raised $75.6m and Biofrontera brought in $18m. Also, AnaptysBio received $250m in Jemperli royalty deal and 4D Molecular Therapeutics grossed $118.8m in a follow-on offering.