Healthcare Private Placement and M&A Transactions Review Week Ending December 4 2022

Strand Therapeutics: The company raised $97 million in Series A venture funding in a deal led by FPV Ventures on November 28, 2022. Eli Lilly, BeiGene, Potentum Partners, Starlight Ventures, Playground Global, ANRI, DHVC, Redmile Group and Eli Lilly and Company Foundation also participated in the round. The company is a developer of a biotechnology platform intended to create gene therapies powered by synthetic biology.

Cajal Neuroscience: The company raised $95.7 million of Series A venture funding in a deal led by Lux Capital and The Column Group on November 29, 2022, putting the company’s pre-money valuation at $34.5 million. Evotec, Bristol-Myers Squibb, KYGO Investment, Alexandria Venture Investments, Dolby Family Ventures, and Two Sigma Ventures also participated in the round. The company is a developer of disease-altering therapies intended for the treatment of neurodegenerative diseases.

Vial: The company raised $67 million of Series B2 venture funding in a deal led by General Catalyst on November 30, 2022, putting the company’s pre-money valuation at $770 million. BoxGroup and Byers Capital also participated in the round. The company is an operator of a clinical trial platform intended to reduce the cost and impediments to drug development.

August Bioservices: The company raised $65 million of Series B venture funding in a deal led by Oak HC/FT on December 1, 2022. Polaris Partners and other undisclosed investors also participated in the round. The company is an operator of a healthcare contract development and manufacturing services business.

iECURE: The company raised $65 million of Series A1 venture funding in a deal led by Novo Holdings and LYFE Capital on November 30, 2022. OrbiMed and Versant Ventures also participated in the round. The company is a developer of gene editing therapies intended to cure diseases with unmet needs.

Rgenta Therapeutics: The company raised $52 million of Series A venture funding in a deal led by AZ-CICC Healthcare Investment Fund on November 29, 2022. Legend Star, Lilly Asia Ventures, Delos Capital, Boehringer Ingelheim Venture Fund, Matrix Partners China, Kaitai Capital, Vivo Capital, Korea Investment Partners, and other undisclosed investors also participated in the round. The company is a developer of a data-driven mRNA target identification platform intended to develop RNA-targeting medicines.

Carrick Therapeutics: The company raised $35 million of venture funding from Pfizer on December 1, 2022. The company is a developer of cancer therapeutics.

Proxim Diagnostics: The company raised $18 million of venture funding from undisclosed investors on November 29, 2022. The company is a developer of an immunodiagnostic device intended to market a new generation of immunodiagnostic tests on a handheld platform.

Carmine Therapeutics: The company raised $13.7 million of Series A venture funding in a deal led by Huagai Capital on November 29, 2022. Simcere Pharmaceutical Group, EVX Ventures and Cystic Fibrosis Foundation alongside other undisclosed investors participated in the round. The company is a developer of a gene therapy platform designed to generate gene therapies by utilizing extracellular vesicles produced from red blood cells.

Apollo Endosurgery / Boston Scientific: The company reached a definitive agreement to be acquired by Boston Scientific for approximately $615 million on November 29, 2022. Apollo Endosurgery, Inc. is a medical technology company focused on the development of next-generation, less invasive devices to advance therapeutic endoscopy designed to treat a variety of gastrointestinal conditions including closure of gastrointestinal defects, managing gastrointestinal complications and the treatment of obesity.

Akouos / Eli Lilly: The company was acquired by Eli Lilly (NYS: LLY) for $610 million on December 1, 2022. Akouos Inc is a genetic medicine company focused on developing gene therapies that restore, improve, and preserve hearing.

Liminatus Pharma / Iris Acquisition Corp: The company reached a definitive agreement to acquire Iris Acquisition through a reverse on November 30, 2022. The company is a developer of pharmaceutical research and development created to engineer cancer treating immune cells.

Focus-X Therapeutics / Full-Life Technologies: The company reached a definitive agreement to be acquired by Full-Life Technologies for an estimated $245 million on November 28, 2022. The company is an operator of a radiopharmaceutical business for the treatment of cancer.

Neogene Therapeutics / AstraZeneca: The company reached a definitive agreement to be acquired by AstraZeneca for $320 million on November 29, 2022. The company is an operator of a biotechnology business intended to develop next-generation, fully personalized engineered T-cell therapies for a broad spectrum of cancers.

Excelsior Integrated Medical Group / Ascend Partners: The company was acquired by Rendr, via its financial sponsor Ascend Partners, through an LBO on November 28, 2022 for an undisclosed amount. The company is an operator of a physician group intended to offer primary healthcare services.

Horizon Therapeutics / Amgen: The company has received bids to be acquired by Amgen, Janssen Global Services, and Sanofi for an undisclosed amount on November 29, 2022. Horizon Therapeutics PLC is a specialty and generic drug manufacturing company.

Mediballoon / Medeologix: The company was acquired by Medeologix for an undisclosed amount on November 28, 2022. The company is a manufacturer of medical equipment based in Union City, California.

MGC Diagnostics / CAIRE: The company reached a definitive agreement to be acquired by CAIRE, a subsidiary of NGK Spark Plug, for an undisclosed amount on November 28, 2022. The company is a designer and manufacturer of non-invasive cardiorespiratory diagnostic systems, accessories and consumables for the detection, classification and management of cardiorespiratory disease.

United Vein & Vascular Centers / Amulet Capital Partners: The company was acquired by Amulet Capital Partners through an LBO on November 29, 2022 for an undisclosed amount. The company is an operator of vein and vascular care treatment centers intended to provide innovative vascular health care.