Healthcare Private Placement and M&A Transactions Review Week Ending August 14 2022

Strategy | Financing Highlight
“Three to five years ago, the big strategics were sprinkling money around, but you are now seeing more focus from them,” said Jonathan Hodson-Walker, managing partner of Silverwood Partners, an investment banking firm that advises CPG brands. “The strategics are still making minority investments, but they are less interested in buying small brands that are experimental and can’t be $100M businesses. Supply chains and scale are very important to them right now.”
Silverwood Partners Features in Organic Insider – Read the article
here

Private Placement / Financing Transactions

Enalare Therapeutics: The company raised $12.5 million of venture funding from Eagle Pharmaceuticals on August 9, 2022. The company is an operator of a clinical-stage biopharmaceutical company designed to provide therapies for patients suffering from acute respiratory conditions.

AEON Biopharma: The company received $30 million of development capital from an undisclosed investor on August 10, 2022. The company is an operator of a clinical-stage biopharmaceutical company intended to develop therapeutic indications for botulinum toxin.

Acclivity Health: The company raised $13.1 million in the form of convertible debt funding from undisclosed investors on August 12, 2022. The company is a developer of a connected care platform intended to securely collaborate with multiple disciplines within the care team.

Abridge: The company raised $12.5 million of Series A1 venture funding in a deal led by Wittington Ventures on August 11, 2022. The company is a developer of a healthcare application designed to bring context and understanding to medical conversations.

Quit Genius: The company raised $11.5 million of venture funding from undisclosed investors on August 11, 2022. The company is a developer of a behavioral therapy platform designed to empower people to overcome addictions.

Latitude Food Allergy Care: The company raised $10.5 million of Series A venture funding from AllerFund Ventures and other undisclosed investors on August 11, 2022. The company is a developer of medical clinics intended to treat children with food allergies.

SaNOtize: The company closed on $10 million of a $21 million targeted amount of Series B venture funding on August 8, 2022. The company is a developer of nitric oxide-releasing solution technology designed to treat upper respiratory and dermal infections.

Vector Biopharma: The company raised $10 million of Series A venture funding from Versant Ventures and other undisclosed investors on August 10, 2022, putting the company’s pre-money valuation at $25 million. The company is an operator of a biopharmaceutical business intended to transform the safety, efficacy, and specificity of drug delivery, to improve treatments for patients.

Interaxon: The company raised $9.5 million of Series C venture funding in a deal led by BDC Capital, Alabaster and Export Development Canada on August 11, 2022. Xiamen Intretech, The Clavis Foundation, Phyto Partners, Iter Investments also participated in the round. The company is a developer of a brain-sensing headband designed to offer real-time feedback on brain activity during meditation and insightful tracking over time.

Nortis: The company raised $6 million of venture funding from undisclosed investors on August 10, 2022. The company is a developer of in-vitro technology designed to facilitate the discovery of novel therapies.

GL Chemtec International: The company received an undisclosed amount of development capital from Edgewater Capital Partners on August 11, 2022. The company is a provider of chemistry services intended for the pharmaceutical and biotechnology industry.

MolecuLight: The company raised an undisclosed amount of venture funding from iGan Partners and BDC Capital on August 11, 2022. The company is a developer of portable handheld optical imaging devices designed to visualize bacteria and measure wounds at the point of care.

Pharma Latch: The company raised an undisclosed amount of venture funding from West Pharmaceutical Services on August 11, 2022. The company is a developer of a tissue anchor system designed to help in wound closure during surgery.

M&A Transactions

Global Blood Therapeutics / Pfizer: The company reached a definitive agreement to be acquired by Pfizer for $5.4 billion on August 8, 2022. Global Blood Therapeutics Inc develops and delivers life-changing treatments for people living with blood-based disorders.  GBT’s voxelotor is the first treatment approved by the FDA to target an underlying cause of sickle cell disease.

Albumedix / Sartorius: The company reached a definitive agreement to be acquired by Sartorius from Novozymes and other investors for GBP 415 million on August 8, 2022. The company is a developer of bio-therapeutics for advanced drug and vaccine formulations intended to improve therapies for people with serious diseases.

Metrics Contract Services / Catalent: The company, a subsidiary of Mayne Pharma Group, reached a definitive agreement to be acquired by Catalent for an undisclosed amount on August 9, 2022. The company is a provider of contract development and manufacturing services in the medical sector.

BioRez / Conmed: The company was acquired by Conmed for $85 million on August 9, 2022. The company is a developer of bio-inductive implants designed to harness the body’s regenerative capacity to rebuild functional tissue and improve musculoskeletal outcomes.

TRACE Analytics / 908 Devices: The company was acquired by 908 Devices for approximately $17.3 million on August 9, 2022. The company is a developer and provider of online analysis systems designed for biotech applications in research, development and production.

AceAge / Dignio: The company was acquired by Dignio for an undisclosed amount on August 9, 2022. The company is a developer of automated medication delivery systems designed to make it easy for patients to take the right medicines at the right time.

Axsana / Swiss Post: The company reached a definitive agreement to be acquired by Swiss Post for an undisclosed amount on August 9, 2022. The company is a provider of electronic patient records intended to promote quality and cost-effectiveness in the healthcare sector.

Captura Biopharma / OceanTech Acquisitions I: The company reached a definitive agreement to acquire OceanTech Acquisitions I through a reverse merger, resulting in the combined entity trading on the Nasdaq on August 10, 2022. The company is an operator of a biotechnology business engaged in the development of IV chelation drugs.

Exzell Pharma / Biolab Farma: The company was acquired by Biolab Farma for an undisclosed amount on August 8, 2022. The company is an operator of a niche pharmaceutical company intended to bring innovative products from around the world to the Canadian market.

Gemini Therapeutics / Disc Medicine: The company reached a definitive agreement to be acquired by Disc Medicine through a reverse merger, resulting in the combined entity trading on the NASDAQ under the ticker symbol IRON on August 10, 2022. Gemini Therapeutics Inc is a clinical-stage precision medicine company developing novel therapeutic compounds to treat genetically defined AMD.

IselectMD / Revive: The company was acquired by Revive for an undisclosed amount on August 10, 2022. The company is a developer of an online consulting platform intended to provide affordable and quick access to doctors.

Quin / Infohealth: The company was acquired by Infohealth for an undisclosed amount on August 9, 2022. The company is a provider of digital therapeutic services intended for personalized independent self-management of type 1 diabetes.

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