Cell and Gene Therapy Market and Deals Analysis, 2023: Financings, Partnering, Mergers and Acquisitions, Tech Transfers, IPOs, and Other Deals


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Cell and Gene Therapy Market and Deals Analysis, 2023: Financings, Partnering, Mergers and Acquisitions, Tech Transfers, IPOs, and Other Deals


This report, Kalorama's Cell and Gene Deals and Market Analysis, tracks the dealmaking and market opportunity for cell and gene therapy companies. A lot of attention is being given to the areas related to cell and gene therapy (CGT) recently. Kalorama's latest report finds that the volume of deals between companies and other funding entities involving CGT is up, and companies have continued to receive large amounts of investment despite a decline from 2021 levels of investment.

Kalorama's CGT deals amounted to a staggering $40 billion in 2022.

While the concepts of gene therapy and cell therapy have been investigated for decades, there were major challenges in the early years. Through incremental progress, and the gradual introduction of enabling tools such as CRISPR and next-generation sequencing (NGS), cell and gene therapy has emerged into a highly active area. There are now many approved therapies with proven track records.

As the new tools have lowered the barriers to entry for the industry, over 1,500 companies have been created or have become involved.

The following is just some of the information in this report:
  • Most Active Deal-Making Companies
  • Deals per Month, April 2021-March 2023
  • Deals by Type - Technology/Research/Strategic Collaboration; Venture Capital/Private Investment; Acquisition, Merger, Strategic Investment; Licensing; Public Offering/SPAC; Manufacturing, Supply Chain; Outreach, Philanthropy, Education; Distribution, Co-Marketing; Spinout, Restructure; Conclude/Terminate Deal; Joint Venture; and Settle Litigation
  • Venture Capital and Private Funding Deals by Month, January 2021-March 2023 (Total count)
  • Regional Venture Capital/Private Funding Shares [North America, Europe, APAC, Rest of World] (%)
  • Total Number of Mergers and Acquisitions, By Month
  • Average Merger/Acquisition Amount, By Quarter [Q1 2021-Q1 2023] ($M)
  • List of M&As [Company 1, Company 2, Details, Amount, w/Milestones, Date]
  • Most Frequent Types of Deals, by Quarter, by Category [Technology/Research/Strategic Collaboration; Venture Capital/Private Investment; Acquisition, Merger, Strategic Investment; Licensing; Public Offering/SPAC; and Manufacturing, Supply Chain] (Total number)
  • Most Active Companies in Acquisition/Merger/ Strategic Investment
  • Most Active Companies in Overall Deals, Collaborations
  • Estimated Market Forecasts for Cell and Gene Therapies by Type (Gene Therapy, Cell Therapy)
  • Estimated Market Forecasts by Region (North America, EU, APAC, Other)
  • Estimated Market Forecasts for CGT by Disease Category (Oncology, Other)
No report published by a major market research publisher has tackled the Cell and Gene Therapy dealmaking space as it exists in 2023 in a more comprehensive fashion. As Cell and Gene Therapy is a highly competitive marketplace, hundreds of companies are referenced in this report.


  • Executive Summary
    • Introduction
    • $40.2 Billion in Funding During 2022
      • Table Total Deals per Month, April 2021-March 2023 (Total count)
      • Table Total Deals per Month by Type, Apr 2021-Mar 2023 [VC/ Private, IPO/FPO/SPAC; and All Other Deals] (Total count)
    • Quarterly Funding Amounts
      • Table Total Quarterly Funding, by Type, Q1 2021-Q4 2021 [M&A; Venture Capital/Private; IPO/FPO; Collab; SPAC; and Strat inv] ($M)
      • Table Total Quarterly Funding, by Type, Q1 2022-Q1 2023 [M&A; Venture Capital/Private; IPO/FPO; Collab; SPAC; and Strat inv] ($M)
      • Table Total Quarterly Funding, Q1 2021- Q1 2023 ($M)
      • Table Total Quarterly Funding, by Type, Q1 2021-Q1 2023 [M&A; Venture Capital/Private; IPO/FPO; Collab; SPAC; and Strat inv] ($M)
    • Quarterly Funding Category Shares, Q1 2021 Through Q1 2023
      • Table Total Quarterly Funding Share, by Type, 2021 [M&A; Venture Capital/Private; IPO/FPO; Collab; SPAC; and Strat inv] (%)
      • Table Total Quarterly Funding Share, by Type, Q1 2022-Q1 2023 [M&A; Venture Capital/Private; IPO/FPO; Collab; SPAC; and Strat inv] (%)
      • Table Q1 2022 Funding Share, by Type of Funding [M&A; Venture Capital/Private; IPO/FPO; Collab; SPAC; and Strat inv] (%)
      • Table Q2 2022 Funding Share, by Type of Funding [M&A; Venture Capital/Private; IPO/FPO; Collab; SPAC; and Strat inv] (%)
      • Table Q3 2022 Funding Share, by Type of Funding [M&A; Venture Capital/Private; IPO/FPO; Collab; SPAC; and Strat inv] (%)
      • Table Q4 2022 Funding Share, by Type of Funding [M&A; Venture Capital/Private; IPO/FPO; Collab; SPAC; and Strat inv] (%)
      • Table Q1 2023 Funding Share, by Type of Funding [M&A; Venture Capital/Private; IPO/FPO; Collab; SPAC; and Strat inv] (%)
      • Quarterly Deal Counts by Category, Q1 2021 - Q1 2023
        • Table Quarterly Count of Deals, By 2021 Quarter, By Category [Technology/Research/Strategic Collaboration; Venture Capital/Private Investment; Acquisition, Merger, Strategic Investment; Licensing; Public Offering/SPAC; Manufacturing, Supply Chain; Outreach, Philanthropy, Education; Distribution, Co-Marketing; Spinout, Restructure; Conclude/Terminate Deal; Joint Venture; and Settle Litigation] (total number) (%)
        • Table Quarterly Count of Deals, by Quarter Q1 2022-Q1 2023, By Category [Technology/Research/Strategic Collaboration; Venture Capital/Private Investment; Acquisition, Merger, Strategic Investment; Licensing; Public Offering/SPAC; Manufacturing, Supply Chain; Outreach, Philanthropy, Education; Distribution, Co-Marketing; Spinout, Restructure; Conclude/Terminate Deal; Joint Venture; and Settle Litigation] (total number) (%)
      • Growth in Collaborations, Manufacturing/Supply Chain Deals, Licensing, Distribution/ Co-Marketing Highlight Activity in Cell and Gene Therapy
        • Table Most Frequent Types of Deals, by Quarter, by Category [Technology/Research/Strategic Collaboration; Venture Capital/Private Investment; Acquisition, Merger, Strategic Investment; Licensing; Public Offering/SPAC; and Manufacturing, Supply Chain] (Total number)
      • A Look at Less Frequent CGT Deal Types
        • Table Lower Frequency Deal Types, by Quarter, by Category [Outreach, Philanthropy, Education; Distribution, Co-Marketing; Spinout, Restructure; Conclude/Terminate Deal; Joint Venture; and Settle Litigation] (total number)
        • Table Merger/ Acquisition Amount, by Quarter [Q1 2021 - Q1 2023] ($M)
        • Table Venture Capital/Private Funding Round Amount, by Quarter [January 2021-January 2022] ($M)
        • Table IPO/FPO Amount, by Quarter [Q1 2021-Q1 2023] ($M)
        • Table SPAC Portion Amount, by Year and Q1 2023 ($M)
    • Synopsis of Most Active Deal-Making Companies
      • Table Most Active Companies' Deal-Making Rankings, by Category, 2021-Q1 2023 (Rank)
      • Table Most Active Companies in Overall Deals, Collaborations
  • Venture Capital & Private Funding
    • VC/Private Funding in Flux
      • Table Total Number of VC/ Private Funding Deals by Month, January 2021-March 2023 (Total count)
      • Table Average VC/ Private Funding Round Amount, By Quarter Q1 2021-Q1 2023 ($M)
      • Table Regional Venture Capital/Private Funding, by Quarter Q1 2021-Q1 2023, [North America, Europe, APAC, Rest of World] ($M) (%)
      • Table Quarterly Venture Capital/Private Total Funding, Q1 2021- Q1 2023, by Region [North America, Europe, APAC, Rest of World] ($M)
      • Table Regional Venture Capital/Private Funding Shares, by Quarter Q1 2021-Q1 2023, [North America, Europe, APAC, Rest of World] (%)
      • Table Regional Venture Capital/Private Funding Shares, by Quarter Q1 2021 Q1 2023, [North America, Europe, APAC, Rest of World] (%)
      • Table Venture Capital/Private Funding Round Amounts, By Quarter [Q1 2021-Q1 2023] ($M)
      • Table Venture Capital/Private Fundraising Deals, Q1 2023
      • Table Venture Capital/Private Fundraising Deals, Q4 2022
      • Table Venture Capital/Private, Q3 2022
      • Table Venture Capital/Private Fundraising Deals, Q2 2022
      • Table Venture Capital/Private Fundraising Deals, Q1 2022
  • Strategic Investments
    • Strategic Investments in Cell and Gene Therapy
      • Table Total Number of Strategic Investments, By Quarter [Q1 2021-Q1 2023] (Total count)
      • Table Average Strategic Investment Amount, By Quarter [Q1 2021-Q1 2023] ($M)
      • Table Total Strategic Investments, By Quarter [Q1 2021-Q1 2023] ($M)
      • Table Strategic Investment Total Amounts, Counts, and Averages, by Quarter, Q1 2021 Q1 2023, ($M)
      • Table Strategic Investments, January 2021-April 2023
    • Most Active Companies
      • Table Most Active in Acquisition/Merger/ Strategic Investment
  • IPOs, FPOs, &SPACs
    • North America Sees the Majority of Proceeds from IPOs, FPOs, SPACs
      • Table Total Number of IPOs/ FPOs, By Month [Jan 2021-Mar 2023] (Total count)
      • Table Average IPO/ FPO Proceeds, By Quarter [Q1 2021-Q1 2023] ($M)
      • Table Quarterly IPO/FPO Total Funding, Q1 2021 Q1 2023, by Region [N. America, Europe, APAC] ($M)
      • Table Total IPO/ FPO Funding, By Quarter, by Region [Q1 2021-Q1 2023] ($M)
      • Table Regional IPO/ FPO Funding Shares, by Quarter, Q1 2021 Q1 2023, [North America, Europe, APAC] (%)
      • Table Regional IPO/FPO Funding Shares, By Quarter, Q1 2021 Q1 2023 [North America, APAC, and Europe) (%)
      • Table IPO/FPO Amounts, By Quarter [Q1 2021-Q1 2023] ($M)
      • Table Quarterly SPAC Funding Portion, Q1 2021-Q1 2023 ($M)
      • Table Quarterly SPAC Funding Portion Total and Average, Q1 2021-Q1 2023 ($M)
      • Table IPO/FPO Deals, Q1 2023
      • Table IPO/FPO Deals, Q4 2022
      • Table IPO/FPO Deals, Q3 2022
      • Table IPO/FPO Deals, Q2 2022
      • Table IPO/FPO Deals, Q1 2022
      • Table SPAC Portion, January 2021-Mar 2023 ($M)
      • Table SPAC Portion Amount, by Year, ’21, ’22, Q1 2023 ($M)
  • Mergers & Acquisitions (M&A)
    • Growing Numbers of M&A, Despite Lower Average Value
      • Table Total Number of Mergers and Acquisitions, By Month [Jan 2021-Mar 2023] (Total Count)
      • Table Average Merger/Acquisition Amount, By Quarter [Q1 2021-Q1 2023] ($M)
      • Table Quarterly Merger and Acquisition Values, Counts, and Averages, Q1 2021-Q1 2023 ($M) (Total count)
      • Table Merger/ Acquisition Transactions Global Total, By Quarter [Q1 2022- Q1 2023] ($M)
      • Table Merger/ Acquisition Amounts, by Quarter [Q1 2021- Q1 2023] ($M)
      • Table Mergers and Acquisitions Announcements, Q1 2023 ($M)
      • Table Mergers and Acquisitions, Q4 2022 ($M)
      • Table Mergers and Acquisitions, Q3 2022 ($M)
      • Table Mergers and Acquisitions, Q2 2022 ($M)
      • Table Mergers and Acquisitions, Q1 2022 ($M)
    • Most Active Companies
      • Table Most Active in Acquisition/Merger/Strategic Investment
  • Technology/Research/Strategic Collaborations
    • CGT Market Sees a Broad Variety of Collaborations
      • Table Total Number of Tech/ Research/ Strategic Collaborations, By Month [Jan 2021-Mar 2023] (Total count)
      • Table Total Number of Collaborations with Upfront and/or Milestone Payments, By Quarter [Q1 2021-Q1 2023] ($M)
      • Table Collaboration Upfront and Future/ Milestone Payments, Counts, Averages, Q1 2021-Q1 2023 ($M) (Total count)
      • Table Average Collaboration Upfront Payment, By Quarter [Q1 2021-Q1 2023] ($M)
      • Table Total Collaboration Upfront Payments, By Quarter [Q1 2021-Q1 2023] ($M)
      • Table Average Collaboration Future/ Milestone Payments, By Quarter [Q1 2021-Q1 2023] ($M)
      • Table Total Collaboration Future/ Milestone Payments, By Quarter [Q1 2021-Q1 2023] ($M)
      • Table Technology/Research/Strategic Collaboration Deals, January 2022-April 2023
    • Most Active Companies
      • Table Most Active in Research/Strategic Collaborations
  • Licensing
    • Stable Levels of Licensing in the Cell and Gene Therapy Market
      • Table Total Number of Licensing Deals, By Month [Jan 2021-Mar 2023] (Total count)
      • Table Licensing Deals, January 2022-April 2023
    • Most Active Companies
      • Table Most Active Companies in Licensing Deals
  • Manufacturing and Supply Chain
    • Major Growth in Manufacturing and Supply Chain Management Activity in CGT
      • Table Total Number of Supply/ Manufacturing Deals, By Month [Jan 2021-Mar 2023] (Total count)
      • Table Manufacturing and Supply Chain Deals, January 2022-March 2023
    • Most Active Companies
      • Table Most Active Companies in Manufacturing/Supply Deals
  • Public Outreach, Education, &Philanthropy
    • CGT Market Focusing Less on Public Outreach, Patient/ Consumer/ Trainee Education, and Philanthropy
      • Table Total Number of Outreach/ Philanthropy/ Education Deals, By Month [Jan 2021-Mar 2023] (Total count)
      • Table Outreach, Education, &Philanthropy Deals, January 2022-Apr 2023
  • Distribution & Co-Marketing
    • A Look at CGT Distribution and Co-Marketing Deals
      • Table Total Number of Distribution/ Co-Marketing Deals, by Month [Jan 2021-Mar 2023] (Total count)
      • Table Distribution & Co-Marketing Deals, January 2022-Mar 2023
    • Most Active Companies
      • Table Most Active Companies in Distribution/Co-Marketing Deals
  • Other - JV, Restructuring, Termination, Spinoffs
    • A Look at Other Types of Deals Impacting Cell and Gene Therapy
      • Table Total Number of JV, Restructuring, Termination, By Month [Jan 2021-Mar 2023] (Total count)
      • Table Restructuring, JV, Termination, Spinoffs, January 2022-April 2023
  • Other - New Facilities, Expansion; Real Estate
    • Expansion, New Facilities and Related Announcements
      • Table New Facilities, Expansion; Real Estate Deals, January 2022-April 2023
  • Cell and Gene Therapy Market Assessment
    • Market Outlook, 2022-2032
      • Table Cell and Gene Therapy Market Revenues by Product Type, 2022 and Projected 2027 and 2032 ($ millions)
      • Table Cell and Gene Therapy Market Revenue Share, by Product Type [Cardiovascular-Blood, Dermatological, Musculoskeletal, Neurology, Oncology, Ophthalmic, Other Conditions] (%)
    • Regional Market
      • Table Cell and Gene Therapy Market by Country/Region [Europe, United States, Other Countries],
    • Products on the Market
      • Table Major Cell and Gene Therapy Product Approvals, FDA
    • Top Companies in Cell and Gene Therapy
      • Table Leading Companies in Cell and Gene Therapy, By Company [Amylan, Bristol Myers, Dendreon, Gilead, Novartis, Smith and Nephew, Others]

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