The five deals that mattered most on 5 November 2026 across biopharma, AI and deep tech, and what each one means. Every item links to its original source.
Pharma M&A · US / Sweden · 5 Nov
ANI Pharmaceuticals offers about $560M for Egetis Therapeutics
ANI offers SEK 11.25 per share in cash, about SEK 5.6B or $560M, a 27% premium to the 60-day average price. Egetis is selling its rare pediatric disease priority review voucher for $190M, which brings the enterprise value down to about $434M. The asset is Emcitate (tiratricol) for MCT8 deficiency, approved in the EU in February 2025 and in the US in September 2026. Shareholders holding about 42% have already committed, and the offer needs 90% acceptance.
Why it matters: A US specialty pharma company buys a newly approved European rare-disease drug, and the voucher sale pays for about a third of the price.
Source: GlobeNewswire
Biotech financing · UK · 5 Nov
T-Therapeutics raises a $133M Series B to take two TCR bispecifics into the clinic
Advent Life Sciences and the British Business Bank co-led the round. New investors include J&J Innovation (JJDC), Eli Lilly, Samsara BioCapital and M Ventures, alongside existing backers such as Sofinnova, F-Prime and Sanofi Ventures. The money funds clinical proof of concept for two first-in-class TCR-CD3 bispecifics, one in solid tumours and one in autoimmune disease.
Why it matters: One of the larger UK Series B rounds, with the venture arms of Lilly, J&J and Sanofi all on the cap table.
Source: GlobeNewswire
AI chips & optics M&A · US · 2 Nov
Marvell agrees to buy Lumentum in an all-stock deal worth about $115B
Lumentum shareholders receive 4.5 Marvell shares for each share, about $1,132, a premium of roughly 24%. After closing, Marvell shareholders own about 67% of the combined company and Lumentum shareholders about 33%.
Why it matters: Optical links between chips are now a bottleneck for AI data centres. Light Reading reports it as the largest public tech acquisition on record.
Source: Light Reading
Biotech financing · UK · 5 Nov
Oxford spinout Alethio Therapeutics raises a $90M Series A
Sofinnova Partners and RA Capital co-led the £67M round, joined by Cancer Research Horizons, Oxford Science Enterprises and the University of Oxford. Alethio develops ATX-011, an anti-G6b antibody for myeloproliferative neoplasms, starting with essential thrombocythemia, followed by an antibody-drug conjugate for myelofibrosis. First clinical trials are planned for the first half of 2028.
Why it matters: A US crossover investor co-leads a large preclinical round in the UK. Together with T-Therapeutics, two UK biotech companies raised $223M in one day.
Source: BioPharma Dive
AI security financing · US / Israel · 4 Nov
Sentra raises a $150M Series C to secure the data AI agents can reach
Capital One Ventures led the round, which brings Sentra’s total funding to more than $260M. Its platform maps which people, AI agents and service accounts can reach sensitive company data, and enforces who may see what.
Why it matters: Securing AI agents is turning into a category of its own, and large financial investors now back it.
Source: SecurityWeek
Every earlier day is in the Deals archive.
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