Ghostboard pixel

🧬 $1.8B Biotech Acquisition. Semiconductors Up 21%.

Impact Capital Markets #64 looks at our Semiconductors stock index, major impact deals, M&A, and upcoming economic releases.

Ahoj 🍺

πŸ“‰ Today's Global Economic Update: Euro Area inflation figures showed a decrease in consumer price inflation to 2.4% YoY in March 2024. The lower-than-expected inflation numbers could increase the likelihood of the European Central Bank decreasing interest rates in the coming months.

🧬 Deal of the Day: Genmab, a Danish biotechnology company, has entered into a definitive agreement to acquire ProfoundBio, a Washington-based biotech company developing cancer treatments, for $1.8B.

What's New?

πŸ’» Semiconductors. Semiconductors up 21%
πŸ’° Funding. Biotechnology, pharmaceutical, thermal solutions & more
πŸ’Ό M&A. Biotech, laboratory testing & healthcare service providers
πŸ“… Economics. Inflation, balance of trade, US employment data + more

πŸ’» Semiconductors Up 21%

HolonIQ’s Semiconductor index experienced a 21% rise in the last quarter. Substantial advancements in the industry during the last quarter have likely instilled confidence in investors. Among these developments was Nvidia’s recent GTC developer conference, which saw the introduction of its new Blackwell GPU platform, the world’s most powerful chip yet. Nvidia Corp. ($2.2T MCap) rose 85% over the quarter, pushing the index up. With the rapid expansion of the AI industry, the demand for AI chips is on the rise, boosting the demand for companies within the index.

Following the downturn in the semiconductor industry over the past year, there have been some early signs of a turnaround in semiconductor demand. In February, the South Korean semiconductor industry, in particular, witnessed the highest growth in fourteen years, with chip exports continuing to see improving demand. Key players in the South Korean chip sector, such as SK Hynix ($100B Mcap), are undergoing rapid expansion, with SK Hynix planning to invest approximately $4 billion in establishing an advanced chip-packaging facility in Indiana. Taiwan produces over 60% of the world’s semiconductors, with most of its chip production coming from Taiwan Semiconductor Manufacturing Co. ($638B MCap), which saw 43% growth over the past quarter. The industry has also benefited from the increasing competition among several countries vying for the most effective AI chips. The US and China are top contenders in this race, with China actively promoting the utilization of domestically produced AI chips.

πŸ’° Funding

πŸ’‰ Obsidian Therapeutics, a Massachusetts-based clinical-stage biotechnology company, raised a $160.5M Series C from Wellington Management to advance its clinical trials for metastatic melanoma & lung cancer treatments.

🩺 Alterome Therapeutics, a California-based biopharmaceutical company, raised a $132M Series B from Goldman Sachs to advance its pipeline of precision, small molecule therapies.

🧬 Diagonal Therapeutics, a Massachusetts-based biotechnology startup, raised a $128M Series A from BVF Partners & Atlas Venture to advance the Diagonal's HHT treatment and other programs.

πŸ”‹ Alsym Energy, a Massachusetts-based rechargeable battery developer, raised $78M Series C from Tata Limited and General Catalyst to grow its team.

⚑ Torus, a Utah-based global energy solutions company that engineers and manufactures energy storage products, raised $67M from Origin Ventures to expand its team.

🧠 Neurosterix, a Swiss biopharmaceutical company, raised a $63M Series A from Perceptive Advisors to accelerate the development of transformational therapies for neurological patients.

🧬 Biofidelity, a North Carolina-based genomic technology company, raised $24M to accelerate growth.

🌑️ Oros Labs, an Oregon-based thermal solutions company, raised a $22M Series B from Airbus Ventures to support its expansion in consumer, commercial, and government industries.

🧫 Nucleai, an Israeli company specializing in the development of AI biomarkers, raised $14M from M Ventures to increase patient enrollment in clinical trials.

πŸ’Ό M&A

🧬 Genmab, a Danish biotechnology company, has entered into a definitive agreement to acquire ProfoundBio for $1.8B, a Washington-based biotech company developing cancer treatments.

πŸ§ͺ Eurofins Scientific, a Luxembourg-based life sciences company, acquired Ascend Clinical, the largest independent laboratory for kidney dialysis testing in the US.

πŸ₯ General Atlantic, a New York-based private equity firm, acquired a majority stake in Ujala Cygnus, an Indian healthcare service provider.

πŸ“… Economic Calendar

Inflation, Balance of Trade, US Employment Data + More

Friday, April 5th 2024

πŸ‡¦πŸ‡Ί Australia Balance of Trade Data, February
πŸ‡¨πŸ‡¦ Canada Balance of Trade Data, February
πŸ‡¨πŸ‡¦ Canada Employment Data, March
πŸ‡ΊπŸ‡Έ US Employment Data, March
πŸ‡¨πŸ‡¦ Canada Ivey PMI, March

Monday, April 08th 2024

πŸ‡©πŸ‡ͺ Germany Balance of Trade Data, February

Tuesday, April 09th 2024

πŸ‡¦πŸ‡Ί Australia Westpac Consumer Sentiment Index, April
πŸ‡¦πŸ‡Ί Australia NAB Business Confidence Index, March

Wednesday, April 10th 2024

πŸ‡―πŸ‡΅ Japan Consumer Confidence Index, March
πŸ‡ΊπŸ‡Έ US Core Inflation Data, March
πŸ‡ΊπŸ‡Έ US Inflation Data, March
πŸ‡¨πŸ‡¦ Canada BoC Interest Decision

Thursday, April 11th 2024

πŸ‡¨πŸ‡³ China Inflation Data, March
πŸ‡ͺπŸ‡¦ Euro Area ECB Interest Rate Decision
πŸ‡ΊπŸ‡Έ US Producer Price Index, March

Friday, April 12th 2024

πŸ‡¬πŸ‡§ UK GDP Data, February
πŸ‡ΊπŸ‡Έ US United States Michigan Consumer Sentiment (Preliminary), April

Like getting this newsletter? For unlimited access to more deals and economic updates, request a demo.

Thank you for reading. Have a great week ahead!
Have some feedback or want to sponsor this newsletter? Let us know at