Healthcare Private Placement and M&A Transactions Review Week Ending April 2, 2023

ArriVent Biopharma: The company raised $155 million of Series B venture funding in a deal led by Sofinnova Investments and General Catalyst on March 27, 2023, putting the company’s pre-money valuation at $225 million. Lilly Asia Ventures, OrbiMed, Terra Magnum Capital Partners, Shanghai Healthcare Capital, Sequoia Capital China, AIHC Capital, Unicorn Capital Partners, Infinitum Asset Management, Octagon Capital Advisors, Boyu Capital, Zoo Capital, Catalio Capital Management, HBM Healthcare Investments and Sirona Capital also participated in the round. The company is a developer of pharmaceutical products intended to cure presently untreatable cancer.

AZIsotope: The company raised $52 million of venture funding from undisclosed investors on March 30, 2023. The company is a manufacturer of medical grade radioisotopes for medical imaging purposes.

OncoVerity: The company raised $30 million of Series A venture funding from Argenx, University of Colorado Health, and other undisclosed investors on March 27, 2023, putting the company’s pre-money valuation at $20 million. The company is a developer of a medical research platform intended for pioneering clinical and single-cell multi-omics databases for cancer research.

Sonoma Biotherapeutics: The company raised $30 million of Series B1 venture funding from Regeneron Pharmaceuticals and other undisclosed investors on March 28, 2023, putting the company’s pre-money valuation at $685 million. The company is a developer of T-cell therapeutics designed to cure autoimmune and degenerative diseases.

Labviva: The company raised $20 million of Series A venture funding in a deal led by Biospring Partners on March 27, 2023. Glasswing Ventures, B Capital Group and Senator Investment Group also participated in the round. The company is a developer of a SaaS application designed to offer better visibility into life science supply chains.

Renovion: The company raised $15 million of venture funding from Onbelay Capital and other undisclosed investors on March 28, 2023. The company is a developer of an advanced nebulized therapy designed to treat chronic inflammatory airway diseases.

Serina Therapeutics: The company raised $14.7 million of venture funding in the form of convertible debt from undisclosed investors on March 29, 2023. The company is a developer of a polymer technology designed to treat cancer, inflammation, pain, and metabolic disorders.

SolasCure: The company raised GBP 10.9 million of Series B venture funding in a deal led by Seneca Partners on March 27, 2023. BRAIN Biotech, EVA Pharma, Wealth Club, and Jonathan Milner and other undisclosed investors also participated in the round. The company is a developer of healthcare technology designed to leverage biomimicry and evidence-based medicine to treat patients with chronic wounds.

Deepc: The company raised EUR 12 million of Series A venture funding in a deal led by Sofinnova Partners on March 28, 2023. Bertelsmann Investments and Winning Mindset Ventures also participated in the round. The company is a developer of a radiology AI operating system designed to support radiologists and their patients.

Kayentis: The company raised EUR 5 million through the combination of debt and venture funding in a deal led by Extens, LBO France and Bpifrance on March 28, 2023. The company is a developer of electronic clinical outcome assessment (eCOA) technology designed to offer new perspectives to speed up clinical trials.

Polyplus-transfection / Sartorius: The company reached a definitive agreement to be acquired by Sartorius for EUR 2.4 billion March 31, 2023. The company is a developer of gene and cell therapy technologies for the delivery of nucleic acids in research, bio-production and therapeutics.

Jounce Therapeutics / Concentra Biosciences: The company reached a definitive agreement to be acquired by Concentra Biosciences for $96.5 million on March 27, 2023. Jounce Therapeutics Inc is a clinical stage immunotherapy company.

Biobank / Niitaka Company: The company was acquired by Niitaka Company for an undisclosed amount on March 28, 2023. The company is a manufacturer of dietary supplements intended to focus on vegetable extract fermented with lactic acid bacteria.

ComboCap Health / Vantage Nutrition: The company was acquired by Vantage Nutrition, a subsidiary of ACG, for an undisclosed amount on March 27, 2023. The company is an operator of a biotechnology company focused on developing dual-delivery health products for nutraceutical, pharmaceutical, over-the-counter and combination therapies.

EIP Pharma / Diffusion Pharmaceuticals: The company reached a definitive agreement be acquired by Diffusion Pharmaceuticals through a reverse merger, resulting in the combined entity trading on the NASDAQ under the ticker symbol DFFN on March 30, 2023. The company is a developer of central nervous system-focused drugs designed to offer treatment for alzheimer’s disease.

Galapagos / NovAliX: The Drug Discovery and Research Activities division of Galapagos reached a definitive agreement to be acquired by NovAliX for an undisclosed amount on March 30, 2023. The company is a developer of biotechnology medicines based in Romainville, France.

Minaris Medical America / Canon Medical Systems: The company, a subsidiary of Resonac Holdings reached a definitive agreement to be acquired by Canon Medical Systems, a subsidiary of Canon, for an undisclosed amount on March 31, 2023. The company is a developer of a multiplex in vitro diagnostic test for allergies and The OPTIGEN® Allergen-Specific IgE Assay is a comprehensive panel test for environmental and food allergens.

Simple Habit / Ingenio: The company was acquired by Ingenio, via its financial sponsor Alpine Investors, through an LBO on March 29, 2023 for an undisclosed amount. The company is a provider of programs and strategies based on cognitive behavioral therapy for insomnia (CBT-I) designed to improve sleep and reduce sleep anxiety.

Vyaire Medical / SunMed: The respiratory and anesthesia consumables business of Vyaire Medical has entered into a definitive agreement to be acquired by SunMed, via its financial sponsors Frazier Healthcare Partners and Dempsey Ventures, through an LBO on March 28, 2023 for an undisclosed amount. The company is a manufacturer of respiratory and anesthesia consumable products intended to serve clinicians and patients.