Epilepsy & DEE Catalyst Report: October 2026
Rapport raised $432.5m eight days after a Phase 2 win. Each of its focal epilepsy rivals now carries a constraint.
Reports
Rare Disease Catalyst Report: Non-Oncology Pipeline & Milestones: October 2026
Shionogi bought into Niemann-Pick type C for $2bn. Beren’s rival faces the FDA on 17 November, and Rafael’s has just filed.
DealPulse Signal Wk 44: Surgery Partners Took $5.7 Billion of the Week’s Upfront, and a Drug Licence Took $70 Million
A surgical network and a radiology group took 98% of the week’s upfront. The only separable drug upfront was $70M.
DealPulse Signal Wk 43: EQT Paid $12.1 Billion for QIAGEN, and Roche Paid $400 Million on a $15.5 Billion ADC Deal
EQT paid $12.1bn for QIAGEN, three drugs sold for $3.1bn in cash, and Roche paid 2.8% upfront on $16.3bn of licences.
Biotech’s 2026 IPO Class Raised $6.9bn on Late-Stage Assets and Would Be $473m Under Water Without Veradermics
Late-stage assets bought the biggest IPOs of 2026. So far they have cost investors most, and one stock carries the class.
DealPulse Signal Wk 42: STERIS Paid $2.1 Billion for Surgical Consumables, and No Drug Made the Top Five
The top five upfronts bought pads, skincare, labs, a robot and pathology software. Three AI licences paid 3.4% upfront.
ESMO 2026 Preview: Seven of Twelve Presidential Abstracts Have Already Claimed a Survival Win
Direction is known for ten of twelve Presidential readouts. Size is sealed, and ADCs face the survival test again.
DealPulse Signal Wk 41: McKesson Bought Into Home Infusion and Shionogi Bought the Next Label
Three takeovers lifted paid at signing to 80%. Four licences paid 17%, and a profit split carried the rest of the risk.
DealPulse Signal Wk 39: Telix Paid in Stock and the Platforms Paid in Promises
Telix’s cheque was 61% of every upfront dollar disclosed this week. The platforms paid about 3% of their headline value.
ADCs Returned 0.46 in Relapsed Disease and 1.15 in the Front Line at WCLC
The dividing line is not the target or the payload. It is the setting: relapsed disease against chemotherapy, or the front line against chemo-IO.