Strategy | Financing Highlight

Private Placement / Financing Transactions

Dianthus Therapeutics: The company raised $100 million of venture funding from undisclosed investors on April 19, 2022. The company is a developer of next-generation complement therapeutics intended to deliver transformative medicines for patients with rare diseases.

Unlearn: The company raised $50 million of Series B venture funding in a deal led by Insight Partners on April 19, 2022, putting the company’s pre-money valuation at $150 million. 8VC, Mubadala Capital-Ventures, DCVC Bio, DCVC and Radical Ventures also participated in the round. The company is a developer of a machine-learning platform designed to combine AI, Digital Twins, and novel statistical methods to enable smaller, more efficient clinical trials.

Sionna Therapeutics: The company raised $39 million of venture funding from Cystic Fibrosis Foundation, TPG and Atlas Venture on April 19, 2022. RA Capital Management also participated in the round. The company is a developer of life sciences technology intended to provide highly effective and differentiated treatments for cystic fibrosis.

Levels: The company raised $38 million of Series A venture funding from Andreessen Horowitz, AirAngels and Mario Gabriele on April 20, 2022, putting the company’s pre-money valuation at $262 million. Mat Fraser, Moshe Lifschitz, Niv Dror, Andrea Funsten, Ben Gilbert, David Rosenthal and Lenny Rachitsky also participated in the round. The company is a developer of a wellness device designed to improve metabolic fitness.

Carlsmed: The company raised $30 million of Series B venture funding in a deal led by B Capital Group on April 19, 2022. Cove Fund, Wavemaker Three-Sixty Health, US Venture Partners, and 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.

Reveleer: The company received $24.4 million of development capital from undisclosed investors on April 19, 2022. The company is a developer of a healthcare data and analytics platform designed to offer health plans with a comprehensive set of services for risk adjustment and quality improvement.

Nue Life: The company raised $23 million of Series A1 venture funding in a deal led by Obvious Ventures on April 19, 2022, putting the company’s pre-money valuation at $80 million. Myelin VC, Western Technology Investment, Magic Fund, Palm Drive Capital, 11-11 Ventures, Empath Ventures, Pareto Holdings, Jon Oringer, Brenton Saunders and Andrey Ostrovsky also participated in the round. The company is a developer of a mental wellness application designed to offer at-home ketamine therapy.

Moving Analytics: The company raised $10.6 million of Series A venture funding from SteelSky Ventures on April 20, 2022, putting the company’s pre-money valuation at $30 million. The company is a developer of virtual care management platform intended to help hospitals implement virtual cardiac rehab and other secondary prevention programs.

EvoEndo: The company raised $8.4 million in Series A venture funding in a deal led by TLP on April 19, 2022, putting the company’s pre-money valuation at $26 million. Sunshine Charitable Foundation, Paul Meister, and other undisclosed investors also participated in the round. The company is a developer of a medical system designed to offer unsedated endoscopy procedures for pediatric and adult patients.

MayaMD: The company raised $7.9 million of venture funding from undisclosed investors on April 18, 2022. The company is a developer of a personal health assistant application designed to help minimize the risk of diagnosis error.

Amydis: The company raised $5.7 million of venture funding from undisclosed investors on April 21, 2022. The company is an operator of an ocular tracer biotechnology company for the early detection and treatment of neurodegenerative diseases, as well as the clinical evaluation of novel therapeutics.

ForeSee Medical: The company raised $4.7 million of venture funding from undisclosed investors on April 22, 2022. The company is a developer of a healthcare data management platform designed to facilitate clinical guidance and improve HCC coding productivity.

Accure Acne: The company raised $3.5 million of venture funding through a combination of debt and equity from undisclosed investors on April 19, 2022. The company is a developer of a laser technology designed to reduce or prevent the recurrence of acne vulgaris.

AMLo Biosciences: The company raised GBP 2.5 million of venture funding from Esperante Ventures, Future Planet Capital and Northstar Ventures on April 21, 2022. Ascension, Conduit Connect, and other undisclosed investors also participated in the round. The company is a developer of a diagnostic kit for melanoma intended to identify a patient’s true risk of disease progression.

Cortica: The company raised an undisclosed amount of venture funding from Autism Impact Fund on April 20, 2022. The company is a provider of neurological therapies services designed to offer treatment for children with autism and other neurodevelopmental conditions.

STRAFFR: The company raised an undisclosed amount of venture funding in a deal led by BMH Beteiligungs-Managementgesellschaft Hessen on April 20, 2022. The company is a developer of a smart resistance band intended to enable personalized and effective training anywhere and anytime.

Upperton Pharma Solutions: The company received an undisclosed amount of development capital from Inflexion Private Equity Partners on April 21, 2022. The company is an operator of pharmaceutical contract development and manufacturing organization (CDMO) focused on the advancement of medicine in various forms.


M&A Transactions

Checkmate Pharmaceuticals / Regeneron Pharmaceuticals: The company reached a definitive agreement to be acquired by Regeneron Pharmaceuticals for $250 million on April 19, 2022. Checkmate Pharmaceuticals Inc is a clinical-stage biotechnology company focused on developing and commercializing its proprietary technology to harness the power of the immune system to combat cancer.

Inform Diagnostics / Fulgent Genetics: The company reached a definitive agreement to be acquired by Fulgent Genetics for $170 million on April 18, 2022. The company is a provider of anatomic pathology services intended to assist clinicians in the fields of pathology, laboratory and data services.

GoodNight Medical / Quipt Home Medical: The company was acquired by Quipt Home Medical for $7 million on April 19, 2022. The company is a provider of sleep diagnostic testing intended to help diagnose a sleep apnea patient in their home, and to provide CPAP treatment, including individual mask fitting and CPAP machine care instructions by trained and licensed respiratory therapists.

Cell&Co BioServices / Cryoport: The company was acquired by Cryoport for EUR 6.2 million on April 18, 2022. The company is a provider of comprehensive management of biological, pharmaceuticals and clinical samples intended to serve the life sciences industry.

Anlitiks / Excelra: The company was acquired by Excelra for an undisclosed amount on April 19, 2022. The company is a developer of the data analytics platform for healthcare committed to transforming complex research into messaging that incorporates value-based evidence and strategy.

BioCentriq / GC Pharma: The company reached a definitive agreement to be acquired by GC Pharma for an undisclosed amount on April 19, 2022. The company is a provider of full-service contract development and manufacturing services intended to accelerate the advancement of cell and gene therapies.

Captigen / MicroGen Diagnostics: The company was acquired by MicroGen Diagnostics for an undisclosed amount on April 19, 2022. The company is a manufacturer of microbial sampling devices designed for optimized culture yield, RT-PCR yield, and next-generation sequencing.

Fathom Pharma / Consegna Pharma: The company was acquired by Consegna Pharma for an undisclosed amount on April 19, 2022. The company is a developer of drugs intended to cure moderate to severe chronic pain.

Katalyst Surgical / Carl Zeiss Meditec: The company was acquired by Carl Zeiss Meditec for an undisclosed amount on April 19, 2022. The company is a manufacturer of ophthalmic surgical instruments intended to offer new techniques for membrane peeling.

Kogent Surgical / Carl Zeiss Meditec: The company was acquired by Carl Zeiss Meditec for an undisclosed amount on April 19, 2022. The company is a developer of neurosurgical instruments designed to be used in electrosurgery and microsurgery.

Lygos / Flexible Solutions International: The company reached a definitive agreement to be acquired by Flexible Solutions International for an undisclosed amount on April 18, 2022. The company is a developer of a full-stack biological engineering platform intended to generate microbial catalysts and specialty chemicals.

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