Healthcare Private Placement and M&A Transactions Review Week Ending December 15, 2024

Angitia Biopharmaceuticals: The company raised $120 million of Series C venture funding in a deal led by Bain Capital Life Sciences on December 11, 2024. Yonghua Capital, 3H Health Investment, OrbiMed, Elikon Venture, Legend Capital and Janus Henderson Investors also participated in the round. The company is an operator of a global clinical-stage biotechnology business for the discovery and development of breakthrough therapies for bone, muscle, and joint diseases.

Citryll: The company raised EUR 85 million of Series B venture funding in a deal led by Johnson & Johnson Innovation – JJDC, Novartis Venture Fund and Forbion on December 9, 2024. Brabantse Ontwikkelings Maatschappij, Curie Capital, Seventure Partners, BioGeneration Ventures and Pureos Bioventures also participated in the round. The company is a developer of pharmaceutical drugs designed to treat immune mediated inflammatory diseases.

VeraDermics: The company raised $75 million of Series B venture funding in a deal led by Suvretta Capital Management on December 11, 2024. Prospect Hill Growth Partners, PhiFund Ventures, Longitude Capital, Connecticut Innovations, Osage University Partners, Surveyor Capital, Vladimir Coric Family Trust, and other undisclosed investors also participated in the round. The company is an operator of an aesthetics and dermatology-focused biopharmaceutical company intended to develop treatments for common dermatologic conditions.

Tasca Therapeutics: The company raised $52 million of Series A venture funding in a deal led by Regeneron Ventures and Cure Ventures on December 10, 2024, putting the company’s pre-money valuation at $31.3 million. The Invus Group also participated in the round. The company is an operator of a biotechnology business intended to develop small molecule drugs for hard-to-treat oncology indications.

Cala Health: The company raised $50 million of Series C venture funding in a deal led by Vertex Growth and Nexus Neurotech on December 9, 2024, putting the company’s pre-money valuation at $105 million. GV, Action Potential Venture Capital, Johnson & Johnson Innovation – JJDC, Ascension Ventures, OSF Ventures, Fiscus Ventures, PEAK6 Strategic Capital, Lux Capital, Lightstone Ventures, Triventures, Reimagined Ventures and other undisclosed investors also participated in the round. The company is a developer of neuromodulation devices for chronic diseases.

AQEMIA: The company raised $38 million of venture funding from Eurazeo, Elaia Partners, Wendel Group and Cathay Innovation as the lead investor on December 10, 2024. Bpifrance also participated in the round. The company is a developer of a drug discovery platform designed to discover new drugs for specific therapeutic targets.

Wavegate: The company raised $26 million of Series A venture funding in a deal led by UCEA Capital Partners on December 10, 2024. The company is a developer of an optical reflectometry technology designed to offer real-time closed-loop control for adaptive spinal cord stimulation.

Ambrosia Biosciences: The company raised $25 million of Series A venture funding in a deal led by Merck, Boulder Ventures and BVF Partners on December 10, 2024, putting the company’s pre-money valuation at $14.75 million. The company is an operator of a drug discovery business intended to offer small molecule-based therapies for obesity and other metabolic disorders.

Pleno: The company raised $25 million of Series B venture funding from Foresite Capital, Medical Excellence Capital and Deerfield Management on December 12, 2024. The company is a developer of a multi-omic instrument designed for biological target detection for clinical testing and biomedical research.

Qnovia: The company raised $16 million of Series B venture funding in a deal led by Blue Ledge Capital on December 10, 2024, putting the company’s pre-money valuation at $235.8 million. Evolution VC Partners, Gaingels, Vice Ventures, Timeless Ventures and other undisclosed investors also participated in the round. The company is a developer of a drug delivery platform designed to advance pharmaceutical research and inhaled drug delivery technology.

OncoVerity: The company raised $14 million of Series A venture funding in a deal led by Argenx and RefinedScience on December 10, 2024. The company is an operator of a biotechnology firm intended to develop targeted therapies for cancer.

DeepLife: The company raised $10 million of Series A venture funding in a deal led by YZR Capital and Relyens on December 11, 2024. Oscar & Paul, Beiersdorf and Groupe Prunay also participated in the round. The company is a developer of a deep learning-powered platform designed to accelerate cell engineering and target identification in biotech and pharmaceutical research.

Adipo Therapeutics: The company raised $4.7 million of venture funding from AJI Capital and other undisclosed investors on December 11, 2024. The company is a developer of polymer-based nanoparticles designed for the treatment of obesity-related diseases.

Huxley Medical: The company raised $4.6 million of venture funding from undisclosed investors on December 11, 2024. The company is a developer of a multifunctional medical device which uses machine learning algorithms to help clinicians and researchers simplify diagnoses.

Aliada Therapeutics / AbbVie: The company was acquired by AbbVie for $1.4 billion on December 11, 2024. The company is a developer of a drug development therapy designed to treat central nervous system diseases.

Nimble Therapeutics / AbbVie: The company reached a definitive agreement to be acquired by AbbVie for $200 million on December 13, 2024. The company is an operator of a biotechnology business intended to facilitate drug discovery of oral peptide therapeutics.

ABO Plasma / GC Biopharma: The company reached a definitive agreement to be acquired by GC Biopharma for $96.3 million on December 11, 2024. The company is an operator of plasma donation centers intended to collect medical-grade source blood plasma for its biotherapeutic pharmaceutical client base.

Chroma Medicine / nChroma Bio: The company was acquired by nChroma Bio for $75 million on December 11, 2024. The company is a developer of genomic medicines designed to revolutionize the treatment of genetically driven diseases.

SpinSci Technologies / Aldrich Capital Partners: The company was acquired by Aldrich Capital Partners through a $53 million LBO on December 11, 2024. The company is a developer of AI-powered SaaS solutions for patient engagement software.

Lumos Pharma / Double Point Ventures: The company was acquired by Double Point Ventures through an LBO for approximately $38 million on December 12, 2024. Lumos Pharma Inc is a biopharmaceutical company that develops treatments for cancer and rare diseases.

Enable Medicine / General Inception: The company reached a definitive agreement to be acquired by General Inception for an undisclosed amount on December 12, 2024. The company is a developer of a bio-computational platform designed to extract valuable insights from various sample types.

endox Feinwerktechnik / Alleima: The company reached a definitive agreement to be acquired by Alleima, a subsidiary of Sandvik, for an undisclosed amount on December 10, 2024. The company is a developer of medical technology and precision engineering instruments designed for endoscopic applications.

Kineta / TuHURA Biosciences: The company reached a definitive agreement to be acquired by TuHURA Biosciences for $9 million on December 12, 2024. Kineta Inc is a clinical-stage biotechnology business developing next generation immunotherapies to treat cancer and chronic pain.

Nvelop Therapeutics / nChroma Bio: The company was merged with Chroma Medicine to form nChroma Bio for an undisclosed sum on December 11, 2024. The company is a developer of genetic medicines intended to help patients suffering from severe genetic diseases.

Pattern Health / Greenlight Health Data Solutions: The company was merged with Greenlight Health Data Solutions to form Greenlight Health Data Solutions/Pattern Health on December 12, 2024. The company is a developer of a digital health platform designed to create and deploy condition-specific digital health programs.

Pieris Pharmaceuticals / Palvella Therapeutics: The company was acquired by Palvella Therapeutics through a reverse merger resulting in the combined company trading on the Nasdaq Capital Market under the ticker symbol PVLA on December 13, 2024. Pieris Pharmaceuticals Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of the Anticalin class of biotherapeutics.

Realyze Intelligence / Carta Healthcare: The company was acquired by Carta Healthcare for an undisclosed amount on December 9, 2024. The company is a developer of clinical data analysis software designed to read and understand detailed clinical notes and structured data from patients’ electronic medical records.

Sharp Therapeutics / EVP Capital: The company acquired EVP Capital through a reverse merger for an undisclosed amount, resulting in the combined entity trading on the NASDAQ stock exchange under the ticker symbol EVP.P on December 12, 2024. The company is an operator of a biology technology business intended to develop proprietary biological assays for protein trafficking disorders.

Visus Therapeutics / Tenpoint Therapeutics: The company was acquired by Tenpoint Therapeutics for an undisclosed amount on December 12, 2024. The company is a developer of ophthalmic therapies.