Biotech startup acquisitions jumped in 2020, leaving VCs optimistic for New Year Premium Bayer announced its deal to buy gene-therapy startup Asklepios BioPharmaceutical in October, one of 19 acquisitions of biotech startups by drug manufacturers last year, according to Silicon Valley Bank. (REUTERS) Brian Gormley Share Via Read Full Story Acquisitions of biotechnology startups jumped in 2020, as buyers moved upstream to grab promising drugmakers while they were still private and relatively cheap. Drug manufacturers bought 19 biotech startups last year, up from 15 in 2019, according to Silicon Valley Bank. Last year’s total was the highest since the 20 buyouts recorded in 2016. The median upfront sum paid in 2020 was $300 million, compared with $250 million the year before.