Healthcare Private Placement and M&A Transactions Review Week Ending October 8, 2023

Rakuten Medical: The company raised $182.1 million of venture funding from undisclosed investors on October 4, 2023. The company is a developer of precision-targeted cancer therapies designed to treat solid tumors.

Iambic: The company raised $100 million of Series B venture funding in a deal led by Ascenta Capital and Abingworth on October 3, 2023, putting the company’s pre-money valuation at $170 million. Nvidia, Illumina Ventures, Gradiant, Coatue Management, OrbiMed, Shanda Group, Sequoia Capital, Catalio Capital Management, Nexus Venture Partners, FreeFlow (Pasadena) and Bill Rastetter also participated in the round. The company uses artificial intelligence technology to design small-molecule therapeutics.

Mesentech: The company raised $15 million of venture funding from undisclosed investors on October 4, 2023. The company is a developer of drugs that can selectively target the bone in order to rebuild bone lost to disease, trauma, and to reverse osteoporosis.

Syncromune: The company raised $14.2 million of venture funding from undisclosed investors on October 6, 2023. The company is a developer of intratumoral immunotherapy designed to treat metastatic solid tumor cancers.

etiraRx: The company raised $4.8 million of venture funding from undisclosed investors on October 5, 2023. The biopharma research company develops products to overcome tumor heterogeneity.

Orakl Oncology: The company raised EUR 3 million of venture funding in a deal led by Speedinvest on October 4, 2023. HCVC, Verve Ventures and other undisclosed investors also participated in the round. The company is a developer of a techbio platform designed to accelerate drug discovery in oncology.

CellPhire Therapeutics: The company raised $2 million of venture funding from undisclosed investors on October 3, 2023. The company is a developer of cell stabilization technology designed to focus on developing cellular materials for advanced technological purposes.

Deciduous Therapeutics: The company raised an undisclosed amount of venture funding from LifeSpan Vision Ventures on October 3, 2023. The company is a developer of novel therapeutics designed for the treatment of age-related diseases.

Precede: The company raised an undisclosed amount of Series A venture funding in a deal led by Lilly Asia Ventures and 5AM Ventures on October 5, 2023. Illumina Ventures, Bristol-Myers Squibb, Osage University Partners, and Qatar Investment Authority also participated in the round. The company develops a liquid biopsy platform designed to provide resolution into disease-defining biology from a simple blood test.

Point Biopharma / Eli Lilly: The company reached a definitive agreement to be acquired by Eli Lilly for $1.4 billion on October 3, 2023. POINT Biopharma Global Inc is a clinical-stage pharmaceutical company focused on the development and commercialization of radioligand therapies for the treatment of cancer.

Orchard Therapeutics / Kyowa Kirin: The company reached a definitive agreement to be acquired by Kyowa Kirin, a subsidiary of Kirin Holdings Company, for apprximately $477.6 million on October 5, 2023. Orchard Therapeutics PLC is a United Kingdom-based commercial-stage hematopoietic stem cell and gene therapy company.

NKGen Biotech / Graf Acquisition IV: The company Graf Acquisition IV merged with NKGen Biotech through a reverse merger, resulting in the combined entity trading on the New York Stock Exchange under the ticker symbol NKGN for $160 million on October 4, 2023. NKGen Biotech Inc is a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic and CAR-NK natural killer cell therapies.

PhenomeX / Bruker: The company was acquired by Bruker for $108 million on October 3, 2023. PhenomeX Inc is a functional cell biology company that provides live cell biology research tools which deliver insights into cellular function and new perspectives on phenomes.

Capcium / Hilco Global: The company was acquired by Hilco Global, via its financial sponsor Caisse de dépôt et placement du Québec, Mr. Sébastien Carpentier and Mr. Hugo Desforges through an LBO on October 4, 2023 for an undisclosed amount. The company is a manufacturer of soft gel capsules intended for the pharmaceutical, over-the-counter and health and wellness markets.

Immunome / Morphimmune: The company was acquired by Morphimmune through a reverse merger and private placement investment of $125 million, resulting in the combined entity trading on the Nasdaq Stock Exchange under the ticker symbol IMNM on October 3, 2023. Immunome Inc is a biopharmaceutical company engaged in utilizing a proprietary human memory B cell platform to discover and develop antibody therapeutics.

OnComfort / HypnoVR: The company was acquired by HypnoVR for an undisclosed amount on October 4, 2023. The company is a developer of a virtual reality device intended to offer a non-pharmacological therapy for relieving pain and anxiety before, during, and after medical procedures.

SomaLogic / Standard BioTools: The company reached a definitive agreement to be acquired by Standard BioTools in a $1 billion deal on October 4, 2023. SomaLogic is a commercial-stage proteomics company which engages in protein biomarker discovery and clinical diagnostics.

Talaris Therapeutics / New York Blood Center Enterprises: The Commercial Scale Cell & Gene Therapy Development And Manufacturing Facilities of Talaris Therapeutics was acquired by New York Blood Center Enterprises for an undisclosed amount on October 4, 2023. The company is an operator of commercial-scale cell and gene therapy development and manufacturing facilities based in Houston, Texas and Louisville, Kentucky.