Strategy | Financing Highlight
Private Placement / Financing Transactions
TRexBio: The company raised $85 million of Series A venture funding in a deal led by Polaris Partners and Laurion Capital Management on March 8, 2022. Pfizer Ventures, Johnson & Johnson Innovation – JJDC, Alexandria Venture Investments, SV Health Investors, and Eli Lilly and Company Foundation participated in the round. The company is an operator of a biotechnology business leveraging cutting-edge computational biology tools intended to provide services for the functional manipulation of tregs and other immune cells.
Satellite Biosciences: The company raised $82.5 million of venture funding from undisclosed investors on March 7, 2022. The company is a developer of a therapeutic platform designed to develop implantable organs for patients who suffer from serious diseases.
RefleXion Medical: The company raised $80 million of venture funding from Johnson & Johnson Innovation – JJDC, Pfizer Ventures, and Ascension Ventures on March 10, 2022. TPG, Ally Bridge Group, Venrock, Catalio Capital Management, Sixty Degree Capital, Hillenbrand Capital Partners, KCK Group, T. Rowe Price, and Public Sector Pension Investment Board also participated in the round. The company is a developer of biology-guided radiotherapy designed to create a new cancer treatment modality.
Sherlock Biosciences: The company raised $80 million of Series B venture funding in a deal led by Novalis LifeSciences on March 8, 2022, putting the company’s pre-money valuation at $85 million. Illumina Ventures, Catalio Capital Management, Albany Capital, and other undisclosed investors also participated in the round. The company is a developer of a diagnostic platform designed to control disease in low-resource settings.
Colossal: The company raised $75 million of venture funding from Thomas Tull and Paris Hilton on March 10, 2022. The company is an operator of a breakthrough bioscience and genetic engineering business building new technologies to advance the field of genomics.
Microbiotica: The company raised GBP 50 million of Series B venture funding in a deal led by Tencent and Flerie Invest on March 7, 2022. British Patient Capital, Cambridge Innovation Capital, IP Group, and Seventure Partners also participated in the round. The company is an operator of a biotechnology platform intended to discover and develop live bacterial therapeutics and biomarkers.
Health Gorilla: The company raised $50 million of Series C venture funding in a deal led by SignalFire on March 7, 2022, putting the company’s pre-money valuation at $300 million. Nationwide Ventures, IA Capital Group, and Epsilon Health also participated in the round. The company is a developer of a clinical data aggregation platform designed to simplify the process for providers to pull patient information from any other clinical records system.
Portal Instruments: The company raised $42 million of venture funding from undisclosed investors on March 11, 2022. The company is a developer of jet injectors designed to revolutionize the drug delivery system with the advancement in biologic administration.
Creyon Bio: The company raised $40 million through a combination of debt and Series A venture funding in a deal led by DCVC Bio and Lux Capital on March 8, 2022, putting the company’s pre-money valuation at $37 million. Alexandria Venture Investments, Biobrit, Casdin Capital, and other undisclosed investors also participated in the round. The company is a developer of drugs designed to engineer RNA-based medicines and their components.
Avive: The company raised $35.9 million of venture funding from Questa Capital and other undisclosed investors on March 11, 2022. The company is a developer of a cardiac medical device designed to increase the survival rate from sudden cardiac arrest.
Scenic Biotech: The company raised EUR 28 million of Series A venture funding in a deal co-led by Eir Ventures, BioMedPartners, and Vesalius Biocapital Partners on March 10, 2022. Inkef Capital, BioGeneration Ventures, and Oxford Science Enterprises also participated in the round. The company is a developer of a genomics and immunotherapy technology intended to assist in the development of disease-modifying therapeutics for rare genetic disorders and other illnesses.
Nice Healthcare: The company raised $30 million of Series A venture funding in a deal led by DNA Capital (Investor) on March 10, 2022. Waterline Ventures, Conductive Ventures, Santa Barbara Venture Partners, Brown Venture Group, Daren Cotter, Eddie Cisneros, F. R. Bigelow Foundation, and other undisclosed investors also participated in the round. The company is a provider of subscription-based healthcare services intended to deliver online medical capabilities to patients.
Wildflower Health: The company raised $26 million through Series D venture funding in a deal led by TT Capital Partners on March 8, 2022, putting the company’s pre-money valuation at $90 million. Providence Ventures, Health Enterprise Partners, Echo Health Ventures, and Hatteras Venture Partners also participated in the round. The company is a developer of a health engagement platform designed to connect families to health resources on the smartphone.
Cerapedics: The company raised $25 million of venture funding from undisclosed investors on March 7, 2022. The company is a developer of an ortho-biological technology intended to provide bone graft substitute for use in spinal fusion surgery and other orthopedic procedures.
Aquyre Biosciences: The company raised $22 million of Series A2 venture funding from HealthTech Capital and other undisclosed investors on March 9, 2022. The company is a developer of cellular level optical biopsies imaging systems designed to provide immediate biopsy results to avoid the delay of receiving a report.
Clarius: The company raised $20 million of venture funding in a deal led by Nimbus Synergies on March 10, 2022. Pender Ventures and Export Development Canada also participated in the round. The company is a developer of a digital imaging platform intended to offer accurate, easy-to-use, and affordable ultrasound tools available to all medical professionals.
Genomenon: The company raised $20 million of Series B venture funding in a deal led by Spring Mountain Capital and Beringea on March 10, 2022. Atain Insurance Companies, Invest Detroit Ventures, Michigan Rise, Green Park & Golf Ventures, Red Cedar Ventures, Michigan Angel Fund, IrishAngels, and University of Michigan MINTS also participated in the round. The company is a developer of genome interpretation software designed to improve cancer diagnosis and treatment.
Prenosis: The company raised $20 million of venture funding from PACE Healthcare Capital, Roche Diagnostics, and Foxconn Technology on March 9, 2022. Defense Threat Reduction Agency also participated in the round. The company is a developer of a healthcare technology intended to decode the atypical human immune response with simple, easy-to-use tools.
SmithRx: The company raised $20 million of Series B venture funding in a deal led by Venrock on March 10, 2022. Founders Fund also participated in the round. The company is a provider of a pharmacy benefit manager platform intended to focus on transparency, efficiency, and data analytics.
Vivante Health: The company raised $16 million of Series A venture funding in a deal led by 7wire Ventures on March 8, 2022. NFP Ventures, Intermountain Ventures, Leaps by Bayer, FCA Venture Partners, SemperVirens Venture Capital, Elements Health Ventures, Lifeforce Capital, Big Pi Ventures, and Human Capital also participated in the round. The company is a developer of a chronic disease management platform and programs designed to manage gut health and combat associated diseases.
VivoSense: The company raised $10 million of venture funding from undisclosed investors on March 9, 2022. The company is a developer of healthcare analytics software designed to optimize data quality and results.
MediView XR: The company raised $9.9 million of venture funding in the form of SAFE notes in a deal led by Inside View on March 9, 2022. Other undisclosed investors also participated in the round. The company is a developer of an extended reality surgical navigation technology intended to maximize the accuracy and efficacy of cancer therapies.
Orthobrain: The company raised $9 million of Series A venture funding in a deal led by CareCapital on March 7, 2022. JumpStart and JobsOhio also participated in the round. The company is a provider of orthodontic options intended for dentists looking to offer orthodontic services to patients.
iScribeHealth: The company raised $5.5 million of venture funding from undisclosed investors on March 8, 2022. The company is a developer of an electronic health record platform designed to reduce the administrative burden on physicians.
M&A Transactions
Arena Pharmaceuticals / Pfizer: The company was acquired by Pfizer for $6.7 billion on March 11, 2022. Arena Pharmaceuticals is a biotechnology company targeting G-protein-coupled receptors.
Zogenix / UCB: The company was acquired by UCB for $1.9 billion on March 7, 2022. Zogenix Inc is engaged in developing and commercializing therapeutic solutions for people living with serious and life-threatening rare CNS disorders and medical conditions.
Rubicon Pharmacies / Neighbourly Pharmacy: The company reached a definitive agreement to be acquired by Neighbourly Pharmacy for $435 million on March 10, 2022. The company is an operator of a chain of retail pharmacies based in Winnipeg, Manitoba.
VitaCare Prescription Services / GoodRx Holdings: GoodRx Holdings reached a definitive agreement to acquire the company, a subsidiary of TherapeuticsMD, for $157 million on March 7, 2022. The company is an operator of a prescription platform intended to help patients navigate key access and adherence barriers for brand medications.
Nextremity Solutions / Medartis: The company reached a definitive agreement to be acquired by Medartis for $70 million on March 7, 2022. The company is a developer of medical implant systems designed to assist surgeons with developed, commercialized, and innovative surgical equipment.
EPI Health / Novan: The company was acquired by Novan for $27.5 million on March 13, 2022. The company is a developer of therapeutic ointments.
LDPath / Source BioScience: The company was acquired by Source BioScience (London stock exchange: SBI) for GBP 18.5 million on March 8, 2022. The company is a provider of surgical pathology services to hospitals based in the United Kingdom.
Affordable Rehab Services / Futuris Company: The company was acquired by Futuris Company for an undisclosed amount on March 10, 2022. The company is a provider of home therapy services in the Broward and Miami-Dade counties in South Florida.
BetterDoc / Medgate Holding: The company was acquired by Medgate Holding for an undisclosed amount on March 10, 2022. The company is an operator of a health quality data platform intended to help patients find appropriate doctors for their health problems.
Intracoastal Eye Physicians / Eye Associates of Wilmington: The company was acquired by Eye Associates of Wilmington for an undisclosed amount on March 7, 2022. The company is a provider of ophthalmologists services intended to improve patient care and broaden access to specialty ophthalmic vision care.
Medgate Holding / Otto Group: The company was acquired by Otto Group for an undisclosed amount on March 10, 2022. The company is a provider of digital health services intended to offer prevention and acute medical care for the chronically ill.
Serenity Pharmaceuticals / Acerus Pharmaceuticals: The company was acquired by Acerus Pharmaceuticals for an undisclosed amount on March 7, 2022. The company is a developer of pharmaceutical products created to address urinary conditions.
Wellview / SentryHealth: The company was acquired by SentryHealth for an undisclosed amount on March 8, 2022. The company is a provider of consumer-driven, clinical, and behavioral health services that initiate lasting lifestyle changes.
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