Healthcare Private Placement and M&A Transactions Review Week Ending April 23, 2023

Distalmotion: The company raised $150 million of venture funding in a deal led by Revival Healthcare Capital on April 19, 2023. Other undisclosed investors also participated in the round. The company is a manufacturer of a surgical device intended to reduce the complexity of robotic surgery.

Enveda Biosciences: The company raised $119 million in Series B venture funding in a deal led by Dimension Management and Kinnevik on April 20, 2023. True Ventures, Wireframe Ventures, Lux Capital, Two Sigma Ventures, Hummingbird Ventures, Catalio Capital Management, JAZZ Venture Partners, FPV Ventures, Level Ventures, Amino Collective, Possible Ventures, Air Street Capital, Gaingels, Henry Kravis, and Allen & Company also participated in the round. The company is a developer of a drug discovery platform designed to decode biological and chemical information from medicinal plants to develop new medicines.

Abdera Therapeutics: The company raised $110 million of Series B venture funding in a deal led by venBio on April 20, 2023. Qiming Venture Partners, RTW Investments and Viking Global Investors also participated in the round. The company is an operator of a precision oncology platform intended to develop targeted alpha radiation therapies for patients with relapsed, refractory, and metastatic cancers.

Ariceum: The company raised EUR 47.8 million of Series A venture funding in a deal led by HealthCap and EQT Life Sciences on April 18, 2023. Ipsen Group, Andera Partners, Earlybird Venture Capital, and Pureos Bioventures also participated in the round. The company is a developer of novel drugs designed for systemic targeted radiotherapy.

1upHealth: The company raised $45 million of Series C venture funding in a deal led by Sixth Street Growth on April 3, 2023, putting the company’s pre-money valuation at $225 million. Eniac Ventures, Jackson Square Ventures and F-Prime Capital also participated in the round. The company is an operator of a healthcare data platform designed for patients, providers, and software developers to aggregate and share medical data.

Caristo Diagnostics: The company raised GBP 13 million of Series A venture funding in a deal led by Oxford Science Enterprises on April 17, 2023. BGF, Longwall Ventures, Oxford Investment Consultants, Oxford University Innovation, and other undisclosed investors also participated in the round. The company is a developer of cardiovascular diagnostic instruments designed to predict and identify coronary heart conditions.

Micron Biomedical: The company raised $3 million of Series A2 venture funding from J2 Ventures, and other undisclosed investors on April 17, 2023, putting the company’s pre-money valuation at $47 million. The company is an operator of a biopharmaceutical business intended to develop microneedle patches for influenza and polio vaccines.

Bellus Health / GlaxoSmithKline: The company reached a definitive agreement to be acquired by GlaxoSmithKline for CAD 2 billion on April 18, 2023. BELLUS Health Inc is a clinical-stage biopharmaceutical development company advancing novel therapeutics for conditions with a high unmet medical need, including BLU-5937, a P2X3 antagonist therapeutic for chronic cough.

30 Technology / ConvaTec: The company was acquired by ConvaTec for GBP 45 million on April 19, 2023. The company is a developer of a biopharmaceutical platform designed to improve the lives of patients suffering from serious and life-threatening medical conditions.

Fitzgerald Industries International / Biosynth: Biosynth, via its financial sponsors BroadOak Capital Partners and Kohlberg Kravis Roberts, reached a definitive agreement to acquire life sciences supply business of Trinity Biotech for $30 Million on April 20, 2023. The company is a developer of biological reagents based in Acton, Massachusetts.

GRI Bio / Vallon Pharmaceuticals: The company acquired Vallon Pharmaceuticals through a reverse merger, resulting in the combined entity trading on the Nasdaq Stock Exchange under the ticker symbol GRI on April 21, 2023. The company is a developer of therapies designed to treat inflammatory diseases.

MedMinder / PersonalRX: The company was acquired by PersonalRX for an undisclosed amount on April 19, 2023. The company is a developer of pill dispensing system designed to simplify medication management and improve medication adherence.

Novocardia / Cardiovascular Associates of America: The company was acquired by Cardiovascular Associates of America, via its financial sponsors MedEquity Capital and Webster Equity Partners, through an LBO on April 18, 2023 for an undisclosed amount. The company is an operator of a cardiovascular care delivery network intended to improve the quality and value of disease care.

Simplifeye / Vyne Dental: The company was acquired by Vyne Dental for an undisclosed amount on April 18, 2023. The company is a developer of patient engagement and communication software designed to improve patient management and operational productivity.