Healthcare Private Placement and M&A Transactions Review Week Ending August 27, 2023

Cellares: The company raised $255 million through a combination of debt, Series C and Series C1 venture funding in a deal led by Koch Disruptive Technologies on August 23, 2023, putting the company’s pre-money valuation at $435 million. Bristol-Myers Squibb, Eclipse Ventures, 8VC, Decheng Capital, DFJ Growth, Willett Advisors and other undisclosed investors also participated in the round. The company is a developer of a cell therapy manufacturing platform intended to make cell therapy widely available and affordable.

Genesis Therapeutics: The company raised $224 million of Series B venture funding in a deal led by Andreessen Horowitz on August 25, 2023. NVentures, Menlo Ventures, Radical Ventures, Fidelity Management & Research, BlackRock, Rock Springs Capital, and T. Rowe Price also participated in the round. The company is a developer of a computational platform designed for the discovery of small-molecule drugs.

Rapport Therapeutics: The company raised $150 million of Series B venture funding in a deal led by Cormorant Asset Management on August 23, 2023, putting the company’s pre-money valuation at $260 million. Johnson & Johnson Innovation – JJDC, Fidelity Management & Research, Sofinnova Investments, Third Rock Ventures and 6 other investors also participated in the round. The company is an operator of a biotechnology company intended to transform the treatment of neurological disorders through precision medicine.

Thyme Care: The company raised $60 million through a combination of Series B and Series B-1 venture funding in a deal led by Foresite Capital Management and Town Hall Ventures on August 21, 2023, putting the company’s pre-money valuation at $120 million. Andreessen Horowitz Bio + Health, AlleyCorp, Casdin Capital, Frist Cressey Ventures and other undisclosed investors also participated in the round. The company is a developer of an oncology care platform intended to guide cancer patients through a complex healthcare system by providing personalized support, quality resources and quick access to high-value care.

EvolutionaryScale: The company raised $40 million of venture funding in a deal led by Lux Capital on August 25, 2023, putting the company’s pre-money valuation at $160 million. Nat Friedman and Daniel Gross also participated in the round. The company is a developer of biology artificial intelligence models intended to design treatment therapies.

Intellihealth: The company raised $8.7 million of Series A1 venture funding from undisclosed investors on August 22, 2023, putting the company’s pre-money valuation at $50 million. The company is a developer of medical technology software designed to transform the perception and treatment of obesity.

Lumeon: The company raised $6 million of venture funding in the form of convertible debt from undisclosed investors on August 25, 2023. The company is a developer of a care orchestration platform intended to provide care pathway management services to the healthcare industry.

ExcepGen: The company raised $4 million of venture funding in a deal led by RA Capital Management on August 24, 2023. Gravity Fund, Oxford Angel Fund and Apollo Projects also participated in the round. The company is a developer of engineering mRNA therapeutics designed to adapt to the cellular state.

Cascade Biocatalysts: The company raised $2.6 million of venture funding in a deal led by Ten VC on August 22, 2023. Boost VC, Range Ventures, Amplify.LA, Spacecadet Ventures, and Cool Climate Collective also participated in the round. The company is a developer of enzyme immobilization kits designed to improve the sustainability and efficiency of existing processes of chemical manufacturing.

Avenda Health: The company raised $2.3 million of venture funding in a combination of convertible debt and equity from undisclosed investors on August 25, 2023. The company is a developer of a fiber-optic laser device and a novel disposable sensor designed to treat cancer under local anesthesia using magnetic resonance imaging-ultrasound fusion.

PolarityTE / Grander Acquisition: The company was acquired by Grander Acquisition for $6.5 million on August 22, 2023. Regenetp Inc Formerly PolarityTE Inc is a clinical-stage biotechnology company developing regenerative tissue products and biomaterials.

Bird Rock Bio / Skye Bioscience: The company was acquired by Skye Bioscience for an undisclosed amount on August 21, 2023. The company is a developer of therapeutic antibodies intended to advance the discovery and development of biologic therapeutics.

Calon Cardio-Technology / Ashington Innovation: The company reached a definitive agreement to be acquired by Ashington Innovation PLC through a reverse merger, resulting in the combined entity trading on the London Stock Exchange under the ticker symbol ASHI on August 24, 2023. The company is a developer of implantable micro blood pumps designed for the treatment of chronic heart failure.

EPIX Therapeutics / Siemens Healthineers: The company was acquired by Siemens Healthineers for an undisclosed amount on August 23, 2023. The company is a developer of a next-generation ablation catheter technology designed to treat Atrial Fibrillation.

Fluxion / Cell Microsystems: The company was acquired by Cell Microsystems for an undisclosed amount on August 23, 2023. The company is a developer of live cell analysis tools designed to facilitate the transformation of complex cell-based assays.

VisionAir Solutions / NextStep Arthropedix: The company was acquired by NextStep Arthropedix for an undisclosed amount on August 22, 2023. The company is a developer of patient-specific 3D airway stents intended for the treatment of central airway obstruction.