Healthcare Private Placement and M&A Transactions Review Week Ending March 3, 2024

FogPharma: The company raised $145 million of Series E venture funding in a deal led by Nextech Invest on March 1, 2024. GV, Milky Way Investments Group, The Invus Group, Foresite Capital, SymBiosis Capital Management, Catalio Capital Management, Sixty Degree Capital, RA Capital Management, General Catalyst, ARCH Venture Partners, venBio, Samsara BioCapital, Alex Gorsky, Marshall Wace, Rock Springs Capital, Cormorant Asset Management, Farallon Capital Management and Fidelity Management & Research, and other undisclosed investors also participated in the round. The company is a developer of cell-penetrating mini proteins (CPMPs) designed to target cancer-causing proteins inside cancer cells and neutralize them.

Alamar Biosciences: The company raised $128 million of Series C venture funding in a deal led by Sands Capital and Terra Magnum Capital Partners on February 26, 2024, putting the company’s pre-money valuation at $272 million. The company is a developer of a precision proteomics platform designed for protein analysis and detection of cancer.

Kenai Therapeutics: The company raised $82 million of Series A venture funding in a deal led by Cure Ventures, The Column Group, and Alaska Permanent Fund on February 29, 2024. Saisei Ventures and Euclidean Capital also participated in the round. The company is an operator of a biotechnology company which aims to replace damaged neurons in the brains of Parkinson’s patients with healthy neurons.

Reveleer: The company raised an estimated $65 million of venture funding in a deal led by Hercules Capital BDC on February 26, 2024. The company is a developer of a healthcare data and analytics platform designed to offer health plans with a comprehensive set of services.

Curve Therapeutics: The company raised GBP 40.5 million of Series A venture funding in a deal led by Pfizer Ventures on February 27, 2024. British Patient Capital, Columbus Venture Partners, Advent Life Sciences, and Epidarex Capital also participated in the round. The company is a developer of small molecule therapeutic drugs to address high priority cancer targets that have evaded conventional discovery approaches.

Egenesis: The company raised $25.4 million of venture funding in the form of convertible notes from undisclosed investors on February 27, 2024. The company is an operator of a gene editing and genome engineering platform intended to develop human-compatible organs for transplantation.

Xealth: The company raised $3.4 million of venture funding from undisclosed investors on February 27, 2024. The company is an operator of digital health programs intended to scale healthcare system workflows.

PulseSight Therapeutics: The company is in the process of raising Series A venture funding from undisclosed investors on February 28, 2024. The company is an operator of an ophthalmology drug development company intended to develop non-viral gene therapy.

Throne: The company raised an undisclosed amount of venture funding from First Star Ventures in March 2024. The company is a developer of a health monitoring device.

Valisure: The company raised an undisclosed amount of venture funding in a deal led by AlleyCorp on February 28, 2024. The company is an operator of an independent laboratory that chemically validates medications.

RayzeBio / Bristol-Myers Squibb: The company was acquired by Bristol-Myers Squibb for $4.1 billion on February 26, 2024. RayzeBio is a provider of radiopharmaceutical therapeutics (RPT) to treat various cancers.

NGM Biopharmaceuticals / The Column Group: The company entered into a definitive agreement to be acquired by The Column Group through a $135 million public-to-private LBO on February 26, 2024. NGM Biopharmaceuticals Inc is a clinical-stage biopharmaceutical company engaged in developing novel therapeutics for the treatment of cardio-metabolic, liver, oncologic and ophthalmic diseases.

Patch Biosciences / Ginkgo Bioworks: The company was acquired by Ginkgo Bioworks for an undisclosed amount on February 28, 2024. The company is a developer of a synthetic biology and machine learning platform designed to engineer gene therapies.

Proof Diagnostics / Ginkgo Bioworks: The company was acquired by Ginkgo Bioworks for an undisclosed amount on February 28, 2024. The company is a developer of a critical rapid diagnostic test for the detection of coronavirus disease.

Reverie Labs / Ginkgo Bioworks: The company was acquired by Ginkgo Bioworks for an undisclosed amount on February 28, 2024. The company is an operator of a computational chemistry and machine learning platform that accelerates drug discovery programs..

ScienceIO / Veradigm: The company was acquired by Veradigm for $140 million on February 27, 2024. The company is a developer of a biomedical language platform designed to transform unstructured biomedical data into contextualized information.

SQZ Biotech / StemCell Technologies: The company was acquired by StemCell Technologies for $11.8 million on February 29, 2024. SQZ Biotechnologies Co is a clinical-stage biotechnology company developing transformative cell therapies for patients with cancer, infectious diseases, and other serious conditions.