Healthcare Private Placement and M&A Transactions Review Week Ending Feb 9, 2025

Carlsmed: The company raised $64.5 million of Series C venture funding in a deal led by U.S. Venture Partners and B Capital Group on February 6, 2025. The Vertical Group also participated in the round. The company is a developer of a spinal implant device and medical system designed to improve outcomes and decrease the cost of healthcare for spine surgery.

HeartFlow: The company raised $48.4 million of venture funding in the form of convertible debt from undisclosed investors on February 5, 2025. The company is a developer of a non-invasive cardiac diagnostic platform designed to improve the diagnosis and management of coronary artery diseases.

Avelios Medical: The company raised EUR 30 million of Series A venture funding in a deal led by Sequoia Capital on February 6, 2025. High-Tech Gründerfonds and Revent Capital also participated in the round. The company is an operator of a fully modular healthcare platform intended to improve patient care.

Zafrens: The company raised $31 million of Series A venture funding in a deal led by Prime Movers Lab on February 5, 2025. Mitsui Chemicals, imec.xpand, Alix Ventures, BlueYard Capital, Hawktail, FoundersX Ventures, Iaso Ventures, Possible Ventures, KOFA Healthcare and Global Brain also participated in the round. The company is a therapeutics business pioneering an ultra-high throughput platform to isolate, culture, image, and sequence millions of cells per day.

neurocare: The company received EUR 19.3 million of development capital from TVM Capital Healthcare Partners and Impact Expansion on February 5, 2025. The company is a developer of a digital therapy platform designed to alleviate mental illness and improve mental performance.

Superbranche: The company raised EUR 13 million of venture funding from undisclosed investors on February 4, 2025. The company is a developer of therapeutic and diagnostic applications designed for early accessibility and detection of the tumors.

Sirius Medical: The company raised EUR 10 million of venture funding in a deal led by NextGen Ventures and Invest-NL (Investment Company) on February 4, 2025. Holmium Grundstucksverwaltungsgesellschaft Mbh & Co. Vermietungs, Holland Capital (Private Equity), Brabantse Ontwikkelings Maatschappij, Curie Capital and De Groot Family Office also participated in the round. The company is a developer of a tumor localization technology designed to improve care for cancer patients.

Reev: The company raised $9.2 million of venture funding in a deal led by IRDI Capital Investissement, Polytechnique Ventures and Newfund Management on February 6, 2025. Techstars, Raphael Varane, Herve Silbert, Scala Patrimoine and other undisclosed investors also participated in the round. The company is a developer of a robotic orthosis device designed to diminish muscle fatigue, facilitate daily trips and improve life quality.

VRG Therapeutics: The company raised EUR 8.4 million of venture funding from Széchenyi and Vascular Venture on February 6, 2025. The company is an operator of a drug discovery business intended to design new treatments for poorly managed diseases through its miniprotein ISEP technology.

Dxcover: The company raised $6.2 million of venture funding in a deal led by Eos Advisory, Norcliffe Capital, University of Strathclyde Endowment and SIS Ventures on February 3, 2025. Macmillan Cancer Support and Maven Capital Partners also participated in the round. The company is a provider of liquid biopsy equipment intended to detect cancer and other diseases early.

NETRI: The company raised EUR 5 million of venture funding from Polygone International, Clery and Treviso Capital on February 4, 2025. The company is a developer of innovative biological research tools designed to simulate human biology for drug testing.

Ambagon Therapeutics: The company raised $5 million of Series A1 venture funding from undisclosed investors on February 7, 2025. The company is a developer of small-molecule cancer drugs designed to stabilize the direct interaction of oncogenic proteins.

Medical Brain: The company raised $4.4 million of venture funding from undisclosed investors on February 5, 2025. The company is a developer of a clinical decision support platform designed to monitor and address patient health in real-time.

ChromaCode: The company raised $3.9 million of venture funding from undisclosed investors on February 5, 2025. The company is a developer of a molecular diagnostics technology designed to connect patients to applicable treatment through bioinformatics.

Carna Health: The company raised $3.4 million of venture funding from undisclosed investors on February 5, 2025. The company is a developer of an advanced kidney health technology platform intended to help in the early detection and management of kidney disease.

seqWell: The company raised $3.1 million of venture funding from undisclosed investors on February 6, 2025. The company is a developer of a next-generation sequencing library technology designed to improve the potential of DNA sequencing instruments.

iVeena: The company raised $3 million of Series B2 venture funding from undisclosed investors on February 5, 2025. The company is a developer of a novel proprietary drug candidate designed to treat ophthalmic diseases.

Dermaliq Therapeutics: The company is in the process of raising Series B venture funding on February 5, 2025. The company is a developer of skincare therapies intended to benefit patients with follicular diseases and treatment of androgenetic alopecia and alopecia areata.

Avid Bioservices / Ampersand: The company was acquired by GHO Capital and Ampersand through a $1.1 billion LBO on November 6, 2024, through a public-to-private transaction. Avid Bioservices Inc is a clinical-stage biopharmaceutical company focused on the development and Current Good Manufacturing Practices of biopharmaceutical products derived from mammalian cell culture.

Revance Therapeutics / Crown Laboratories: The company was acquired by Crown Laboratories, via its financial sponsors Revelation Partners, Hildred Capital Partners, Hildred Capital Management and Montreux Growth Partners, through a public-to-private LBO for approximately $314 million on February 6, 2025. Revance Therapeutics Inc is a clinical stage biotechnology company, which engages in the development, manufacturing, and commercialization of novel botulinum toxin products for multiple aesthetic and therapeutic applications.

Adroit USA / Arterex: The company was acquired by Arterex, via its financial sponsor Investindustrial, through an LBO on February 3, 2025 for an undisclosed amount. The company is a manufacturer of precision plastic parts and assemblies intended to serve the medical device industry.

Carium / Healthmap Solutions: The company was acquired by Healthmap Solutions, via its financial sponsors Diamond Castle Holdings, GuideWell, Highmark Ventures, Shulman Ventures and WindRose Health Investors, through an LBO on February 6, 2025 for an undisclosed amount. The company is a developer of an individualized patient care management platform.

EIDO Healthcare / Radar Healthcare: The company was acquired by Radar Healthcare, via its financial sponsor Marlin Equity Partners, through an LBO on February 4, 2025 for an undisclosed amount. The company is a developer of a digital platform designed to streamline the process of obtaining and recording informed consent in healthcare settings.

EyePromise / Physician Recommended Nutriceuticals: The company was acquired by Physician Recommended Nutriceuticals, via its financial sponsor RoundTable Healthcare Partners, through an LBO on February 3, 2025 for an undisclosed amount. The company is a provider of nutritional supplements intended to aid with vision loss and preserve ocular health.

Pharmaceutics International / Jabil: The company was acquired by Jabil for an undisclosed amount on February 3, 2025. The company is a provider of contract development and manufacturing services intended to support pharmaceutical and biotech companies.

Qrons / First Person: The company was acquired by First Person through a reverse merger on February 4, 2025. Qrons Inc is a biotechnology company developing advanced cell-based solutions to combat neuronal injuries with a focus on traumatic brain injuries.