Strategy | Financing Highlight

Private Placement / Financing Transactions

Precirix: The company raised EUR 80 million of Series B venture funding in a deal led by Inkef Capital, Jeito, and Forbion on March 16, 2022. Gimv, HealthCap, Novo Holdings, Pontifax Venture Capital, BioMedPartners, V-Bio Ventures, and other undisclosed investors also participated in the round. The company is a developer of radio-immunotherapeutic drugs designed to offer a new generation of targeted cancer therapies.

Deepcell: The company raised $73 million of Series B venture funding in a deal led by Koch Disruptive Technologies on March 17, 2022. Bow Capital, Andreessen Horowitz, Bridger Healthcare, Horizons Ventures, Jeff Dean, Matt Mcllwain, and Casdin Capital also participated in the round. The company is a developer of a diagnostic biotechnology intended to offer non-invasive genetic tests with diagnostic-level accuracy.

Molecular Assemblies: The company raised $25.8 million of Series B venture funding from Codexis, Agilent Technologies, and iSelect Fund on March 15, 2022. Argonautic Ventures, LYFE Capital, and Casdin Capital also participated in the round. The company is a developer of an enzymatic DNA synthesis technology designed to power next-generation DNA-based products.

House Rx: The company raised $25 million of Series A venture funding in a deal led by Bessemer Venture Partners on March 14, 2022, putting the company’s pre-money valuation at $100 million. First Round Capital, 1984 Ventures, and Character (VC) also participated in the round. The company is a provider of healthcare products and services intended to make specialty medication more accessible and affordable.

BoomerangFX: The company raised an estimated $20 million of Series B venture funding from undisclosed investors on March 15, 2022. The company is a developer of a practice management software intended to streamline business operations.

VideaHealth: The company raised $20 million of venture funding from undisclosed investors on March 18, 2022. The company is a developer of an artificial intelligence technology designed to automatically detect pathologies in dental imaging.

Curiox Biosystems: The company raised $15 million of Series C venture funding in a deal led by Luha Private Equity on March 16, 2022. KB Investment, QUAD Investment Management, and other undisclosed investors also participated in the round. The company is an operator of a bio-instrumentation firm intended to create products based on surface chemistry and engineering.

Nue Life: The company raised $15 million of Series A1 venture funding from undisclosed investors on March 14, 2022, putting the company’s pre-money valuation at $80 million. The company is a developer of a mental wellness application designed to offer at-home ketamine therapy.

restor3d: The company raised $14 million of venture funding from 147 undisclosed investors on March 15, 2022. The company is a developer of 3D printed implants intended to enable surgeons to repair and reconstruct the human body.

Canopy Care: The company raised $13 million of venture funding in a deal led by GSR Ventures on March 17, 2022. Samsung Electronics also participated in the round. The company is a developer of a platform intended to power an entire layer of interoperable software solutions over EMR and practice management systems.

Prevencio: The company raised $8.4 million of venture funding from undisclosed investors on March 16, 2022. The company is a developer of multi-proteomic biomarkers designed to revolutionize blood tests for cardiovascular disease.

KayoThera: The company raised $8 million of Series A venture funding from Accelerator Life Science Partners, BioAdvance, and 7G Bioventures on March 17, 2022. The company is a developer of immune and targeted therapies designed to cure late-stage and metastatic cancers.

Kogniz: The company raised $7.5 million of venture funding from undisclosed investors on March 18, 2022. The company is a developer of an artificial intelligence-enabled health response platform designed to offer end-to-end workplace safety.

TestCard: The company raised GBP 3.8 million of venture funding from East Post Road Ventures and other undisclosed investors on March 14, 2022, putting the company’s pre-money valuation at GBP 35.1 million. The company is a developer of a medical diagnostic technology designed to provide non-invasive at-home testing.

PolyCore Therapeutics: The company raised $4.7 million of venture funding from undisclosed investors on March 17, 2022. The company is a developer of therapies intended to treat dyskinesia and cognitive impairment associated with central nervous system disorders.

Brenus Pharma: The company raised EUR 4 million of venture funding from undisclosed investors on March 17, 2022. The company is a developer of an anti-cancer cell-based immunotherapy designed to generate allogeneic cell vaccines for the immunotherapy of solid tumors.

Lindy Biosciences: The company raised $3.3 million of venture funding from undisclosed investors on March 15, 2022. The company is a developer of advanced protein formulations designed for biotherapeutics.

Cardiawave: The company is in the process of raising Series B venture funding on March 14, 2022. The company is a developer of a non-invasive ultrasonic medical device designed to treat heart valve diseases.

Caretaker Medical: The company is in the process of raising Series B venture funding on March 15, 2022. The company is a developer of a wireless patient monitoring platform designed to connect clinicians to their patients across the full continuum of care.

Circle Cardiovascular Imaging: The company entered into a definitive agreement to receive an undisclosed amount of development capital from Thoma Bravo on March 16, 2022. The company is a developer of a cardiovascular imaging post-processing system intended to diagnose complex cardiovascular diseases.

KaliVir Immunotherapeutics: The company raised an undisclosed amount of Series A venture funding in a deal led by Premier Partners on March 16, 2022. Nextrans, Company K Partners, and QUAD Investment Management also participated in the round. The company is a developer of a novel oncolytic platform designed to enhance systemic delivery capabilities, tumor-targeted replication, and viral spread within the tumor microenvironment.

Reaction Biology: The company received an undisclosed amount of development capital from Cobepa on March 16, 2022. The company is an operator of a contract research organization providing early-stage drug discovery services to pharma, academic, and research customers.


M&A Transactions

LifeMark Health Group / Shoppers Drug Mart: The company reached a definitive agreement to be acquired by Shoppers Drug Mart, a subsidiary of Loblaw Companies, for $845 million on March 14, 2022. The company is a provider of physiotherapy, rehabilitation, medical assessments, and home-care services across Canada.

Cardiac Insight / Dreamtech: The company was acquired by Dreamtech for KRW 27.4 billion on March 16, 2022. The company is a developer of advanced body-worn sensing and computing technologies aimed at the early diagnosis of atrial fibrillation and other conditions.

FourteenFish / EMIS Group: The company was acquired by EMIS Group for GBP 15.6 million on March 17, 2022. The company is an operator of a software development company specializing in medical appraisals.

Add Biomedical / ScreenPro Security: The company was acquired by ScreenPro Security for CAD 3.3 million on March 18, 2022. The company is a developer of cancer screening solutions.

Advant Medical / UFP Technologies: The company was acquired by UFP Technologies for an undisclosed amount on March 17, 2022. The company is a developer and manufacturer of medical equipment and packaging focused on implantable and peripheral devices.

Apexigen / Brookline Capital Markets: The company reached a definitive agreement to acquire Brookline Capital Markets through a reverse merger, resulting in the combined entity trading on the Nasdaq Stock Exchange under the ticker symbol “APGN” on March 18, 2022. The company is an operator of a proprietary antibody drug discovery platform intended to discover and develop a new generation of antibody therapeutics for oncology.

Coalesce Product Development / Sandoz International: The company was acquired by Sandoz International for an undisclosed amount on March 14, 2022. The company is a developer of a portfolio of novel inhalation devices aimed at targeting specific combination product opportunities.

Embedded Healthcare / Clarify: The company was acquired by Clarify (Enterprise Systems) for an undisclosed amount on March 14, 2022. The company is a developer of a health care platform intended to allow medical providers to make decisions that deliver better care at lower costs.

EvinceMed / OptimizeRx: The company was acquired by OptimizeRx for an undisclosed amount on March 15, 2022. The company is a developer of an access management platform intended to streamline a patient’s access to specialty therapies.

FGen / Ginkgo Bioworks Holdings: The company reached a definitive agreement to be acquired by Ginkgo Bioworks Holdings for an undisclosed amount on March 14, 2022. The company is a developer of microbial strains designed to optimize cells for biotechnological applications.

Greater Connecticut Anesthesia Associates / CRH Medical: The company was acquired by CRH Medical, a subsidiary of WELL Health Technologies, for an undisclosed amount on March 15, 2022. The company is a provider of anesthesia services based out of Connecticut, United States.

Intellivisit / Urgent Care Partners: The company was acquired by Urgent Care Partners for an undisclosed amount on March 14, 2022. The company is a developer of an on-demand virtual care platform designed to enhance patient-provider relationships.

MedPro Respiratory Care / Groupe Bastide: The company was acquired by Groupe Bastide for an undisclosed amount on March 16, 2022. The company is a provider of respiratory care services intended to offer professional support and therapeutic equipment.

Pillar5 Pharma / ANJAC Health & Beauty: The company was acquired by ANJAC Health & Beauty for an undisclosed amount on March 14, 2022. The company is a provider of sterile ophthalmic contract development and manufacturing services in Canada.

Vetera / Nordhealth: The company reached a definitive agreement to be acquired by Nordhealth for an undisclosed amount on March 14, 2022. The company is a developer of veterinary practice management software intended to digitize practice management.

ZenCharts / Lightning Step: The company, a subsidiary of Sanomedics, was acquired by Lightning Step for an undisclosed amount on March 17, 2022. The company is a developer of electronic health records maintenance software intended to make paperwork easier and more efficient for behavioral healthcare clinicians.

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