| Private Placement / Financing Transactions
IDRx: The company raised $120 million of Series B venture funding in a deal led by Blackstone, RA Capital Management and Commodore Capital on August 7, 2024, putting the company’s pre-money valuation at $310 million. Merck, Andreessen Horowitz, Casdin Capital, Nextech Invest, Forge Life Science Partners and Rock Springs Capital also participated in the round. The company is a developer of precision oncology therapies.
Vedanta Biosciences: The company raised $118.5 million of Series D venture funding in a deal led by Skyviews Life Science, Reimagined Ventures, and AXA Investment Managers on August 5, 2024. Pfizer, Fosun Health Capital, Atlantic Neptune, K2 HealthVentures, Korea Investment Partners, Revelation Partners, PEAK6 Strategic Capital, Fiscus Ventures, Salica Investments, PureTech Health, Seventure Partners, Bill & Melinda Gates Foundation, QUAD Investment Management, Verition Fund Management, Atika Capital Management, and Korea Investment Holdings Company also participated in the round. The company is a developer of oral therapy designed to treat inflammatory and infectious diseases.
Red Queen: The company raised $55 million of Series A venture funding from Apple Tree Partners on August 6, 2024. The company is a developer of biotechnology drugs intended to prepare rapid responses to current and emerging pathogens that threaten human health and life.
Noveome Biotherapeutics: The company raised $36.2 million of Series E venture funding in a deal led by MAK Capital on August 8, 2024. UPMC Enterprises, Lancet Capital, Miraki Innovation, Terence Golden, Redevelopment Authority of Allegheny County, Commonwealth of Pennsylvania, University of Pittsburgh Endowment, and Carnegie Mellon University also participated in the round. The company is a developer of novel biotherapeutic products designed to treat inflamed or damaged tissues.
Spineology: The company received $25 million of development capital from SV Health Investors, RC Capital and 1315 Capital on August 6, 2024. The company is a developer of spinal implants.
Seed Therapeutics: The company raised $24 million of Series A3 venture funding in a deal led by Eisai on August 6, 2024. The company is a developer of novel protein degradation therapeutics.
Kate Therapeutics: The company raised $21.8 million of venture funding from undisclosed investors on August 7, 2024. The company is an operator of a patient-focused biotechnology business intended to develop adeno-associated virus-based gene therapies to treat genetically defined muscle diseases.
Psy Therapeutics: The company raised $12.6 million of Series 1 venture funding in the form of convertible debt from JLS Fund, WPSS.bio and Ayuh Ventures on August 9, 2024. Palo Santo also participated in this round. The company is a developer of therapeutic drugs intended for high-potential central nervous system diseases.
NeuroTherapia: The company raised $12 million through a combination of Series B-1 and Series B-2 venture funding in a deal led by Cleveland Clinic Innovations on August 6, 2024, putting the company’s pre-money valuation at $18 million. Foundation For a Better World, CRU Clinical Research Units, Alzheimers Drug Discovery Foundation, Dolby Family Ventures and Brain Trust Accelerator Fund also participated in the round. The company is a developer of cannabinoid type receptor agonists designed to treat diseases related to neuroinflammation.
Switchback Systems: The company raised $10 million of venture funding from undisclosed investors on August 8, 2024. The company is an operator of a DNA synthesis platform intended to develop technologies that use cell structure as a data storage medium.
Artax Biopharma: The company raised $8 million of venture funding in the form of convertible debt from Eli Lilly and Company, Advent Life Sciences and Columbus Venture Partners on August 6, 2024. Sound Bioventures and Belinda Termeer also participated in the round. The company is a developer of small molecule therapies intended to treat autoimmune and inflammatory diseases.
NanoHive Medical: The company raised $7 million of Series C venture funding from David Scott and Greg Hoffman, led by Xator and Hoffco Holdings on August 5, 2024. The company is a developer of 3D-printed spinal interbody implants and instruments designed to address spinal fusion challenges with bioactive titanium devices.
Sphingotec: The company raised EUR 5 million of Series C venture funding in a deal led by Think.Health on August 8, 2024. Other undisclosed investors also participated in the round. The company is a developer of biomarkers intended for the diagnosis, prediction, and monitoring of acute medical conditions, such as heart failure, kidney injury, and circulatory shock.
Nob Hill Therapeutics: The company raised $3 million of Series A-2 venture funding in a deal led by Tramway Ventures on August 6, 2024, putting the company’s pre-money valuation at $7 million. VIC Technology Venture Development, TCA Venture Group, and other undisclosed investors also participated in the round. The company is a developer of a dry-powder nebulizer designed to help treat severe respiratory diseases.
Prana Thoracic: The company raised $3 million of Series A venture funding in a deal led by Cultivate(MD), Houston Angel Network and GenHenn Capital on August 7, 2024, putting the company’s pre-money valuation at $10.7 million. Johnson & Johnson Innovation – JJDC, Texas Medical Center, New World Angels, and Cancer Prevention and Research Institute of Texas also participated in the round. The company is a developer of medical devices designed for minimally invasive surgery.
Leon Nanodrugs: The company raised an undisclosed amount of Series D venture funding in a deal led by LBBW Venture Capital on August 6, 2024. Signet Healthcare Partners, Albany Private Equity Holding, TVM Capital Life Science, Eckenstein-Geigy-Stiftung, CD-Venture and other undisclosed investors also participated in the round. The company is a developer of drugs using nanotechnology and nanoscience.
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