Healthcare Private Placement and M&A Transactions Review Week Ending June 4, 2023

Debut: The company raised $34 million of Series B venture funding in a deal led by BOLD (Business Opportunities for L’Oréal Development) on June 1, 2023. Cavallo Ventures, GS Venture Partners, Material Impact Fund, Sandbox Industries, Fine Structure Ventures, ACVC Partners, DIC Group and other undisclosed investors also participated in the round. The company is a developer of a cell-free biomanufacturing technology designed to create complicated ingredients.

Drusolv Therapeutics: The company is in the process of raising $20 million of Series A venture funding as of May 30, 2023. The company is an operator of a clinical-stage drug company intended to develop a high-dose oral statin for early intervention in age-related macular degeneration (AMD).

Inmedix: The company is in raising $20 million of Series A venture funding from undisclosed investors as of May 31, 2023. The company is a developer of diagnostic devices designed to measure stress and its impact on immune function.

LTZ Therapeutics: The company raised over $10 million of venture funding in a deal led by Qiming Venture Partners on May 31, 2023. K-2 Ventures, Lihehongxin Venture Capital Partnership and Shunwei Capital also participated in the round. The company is a developer of novel immunotherapies designed to treat patients suffering from cancer and other diseases with unmet clinical needs.

Pneumagen: The company raised EUR 8 million of venture funding from Thairm Bio, Esperante Ventures, and Scottish Enterprise on June 1, 2023. The company is a developer of glycan-targeted carbohydrate-binding modules designed to focus on the pan-viral treatment of respiratory tract infectious disease.

Modulo Bio: The company raised $8 million of venture funding from Initialized Capital Management, Refactor Capital and Hawktail on June 1, 2023. Cantos Ventures, Bioverge Ventures, Builders VC and Spacecadet Ventures also participated in the round. The company is a developer of digital biology mechanisms designed to accelerate the discovery of therapeutic targets harnessing autoimmunity.

Akadeum Life Sciences: The company raised $6 million of venture funding in the form of convertible notes from undisclosed investors on May 30, 2023. The company is a developer of bio-separation products designed to facilitate the removal of target cells from biological samples.

GenEp: The company raised $5 million of venture funding from undisclosed investors on May 31, 2023. The company is a developer of biotechnological solutions designed to create therapies targeting mutations of sodium and other ion channels that cause rare genetic epilepsies and other treatment-resistant epilepsies.

Hopewell Therapeutics: The company raised $3 million of venture funding from undisclosed investors on June 2, 2023. The company is a developer of novel biodegradable lipid nanoparticles intended to provide cutting-edge technology and services in the field of drug delivery systems.

Atalan: The company raised an undisclosed amount of venture funding from Excelerate Health Ventures in June 2023. The company is a developer of an early warning and monitoring platform designed to predict and prevent clinician burnout and turnover in the healthcare system.

Link Immunotherapeutics: The company is in the process of raising venture funding on May 31, 2023. The company is a developer of next-generation T-cell engaging therapies designed to treat a broad spectrum of oncology indications.

Marlinspike Therapeutics: The company raised an undisclosed amount of venture funding from Apple Tree Partners in approximately June 2023. The company is an operator of a biotechnology business focused on RNA biology, including RNA processing and alternative splicing.

TCR2 Therapeutics / Adaptimmune Therapeutics: The company was acquired by Adaptimmune Therapeutics for $165 million on June 1, 2023. TCR2 Therapeutics Inc is a clinical-stage cell therapy company.

Theragnostics / Ariceum: The company reached a definitive agreement to be acquired by Ariceum for $2.5 million on June 1, 2023. The company is a developer of molecular radiotherapy and molecular imaging diagnostic products designed for the treatment of cancer patients.

Angion Biomedica / Elicio Therapeutics: The company was acquired by Elicio Therapeutics through a reverse merger, resulting in the combined entity trading on the Nasdaq Stock Exchange under the ticker symbol ELTX on June 1, 2023. Angion Biomedica Corp is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel small molecule therapeutics to address acute organ injuries and fibrotic diseases.

EffRx / Abiogen Pharma: The company was acquired by Abiogen Pharma for an undisclosed amount on May 29, 2023. The company is an operator of a pharmaceutical company focused on the development and commercialization of prescription drugs targeting in particular musculoskeletal and rare pathologies on the European and international markets.