Healthcare Private Placement and M&A Transactions Review Week Ending February 12 2023

Alleviant Medical: The company raised $75 million of Series 1 venture funding in a deal led by S3 Ventures and RiverVest Venture Partners on February 7, 2023, putting the company’s pre-money valuation at $38 million. Vensana Capital, Gilmartin Capital, ShangBay Capital, Texas Medical Center, and Long View Equity Partners also participated in the round. The company is a developer of medical devices designed to offer treatment for congestive heart failures.

Evonetix: The company raised GBP 45.1 million of Series B venture funding in a deal led by Foresite Capital Management on February 7, 2023, putting the company’s pre-money valuation at GBP 31.3 million. Cambridge Consultants, DCVC, Molten Ventures, Morningside Group, Rising Tide Fund, Providence Investment Company Limited, Page One Ventures, and Civilization Ventures also participated in the round. The company is a biotechnology business that synthesizes DNA at high accuracy and scale.

IgGenix: The company raised $40 million of Series B venture funding in a deal led by Alexandria Venture Investments on February 6, 2023. Eli Lilly, Khosla Ventures, AllerFund Ventures, and Sean Parker also participated in the round. The company is a developer of an antibody-based therapeutic platform intended to speed up the clinical response time against allergies.

Prokarium: The company raised $30 million of venture funding from undisclosed investors on February 9, 2023. The company is a developer of biopharmaceutical products designed to unlock the next level of immuno-oncology by building on the most recent advances in cancer immunology.

ZetaGen Therapeutics: The company raised $24.6 million of Series B venture funding from New York Ventures on February 6, 2023, putting the company’s pre-money valuation at $135 million. The company is a developer of a small molecule-based osteoinductive technology designed to suspend cancer, inhibit pain, and regenerate bone.

BIOLOG: The company raised $17.5 million of Series A venture funding from BroadOak Capital Partners and Research Corporation Technologies on February 6, 2023. The company is a developer of cell analysis tools designed to identify cell phenotypes for early-stage detection of diseases.

Spine BioPharma: The company raised $13 million of venture funding in the form of convertible debt from Pacira BioSciences, Viscogliosi Bros. and Cercano Management on February 8, 2023. The company is a developer of non-surgical therapies intended to reduce pain, restore function, and slow or stop pathological spinal disease progression without the use of opioids.

Nanoflex Robotics: The company raised $12 million of venture funding in a deal led by Ascend Capital Partners on February 10, 2023. Kinled Holding and Mountain Labs also participated in the round. The company is a developer of a soft robotic system intended to diagnose and treat vascular disease.

Neonc Technologies: The company raised $10 million of venture funding from Eminent Venture Capital, Orion BioScience, and Lin Family Office on February 8, 2023, putting the company’s pre-money valuation at $60 million. The company is a developer of non-invasive cancer therapies designed to treat lung and brain cancer.

Avicenna.Ai: The company raised an estimated EUR 6.5 million of venture funding in a deal led by Innovacom and Cemag Invest on February 8, 2023. The company is a developer of a medical radiology software designed for the detection of acute neurovascular emergencies.

Nodus Oncology: The company raised GBP 2.4 million of venture funding from Khanu Management and Cumulus Oncology on February 7, 2023. The company is an operator of a biotechnology business intended to develop molecules inhibiting novel DNA damage response (DDR) targets.

Duo Oncology: The company raised $2.7 million of venture funding from undisclosed investors on February 8, 2023. The company is a developer of nanoparticle technology intended to cure established tumors.

Nimbus Lakshmi / Takeda Pharmaceutical: The company, a subsidiary of Nimbus Therapeutics, was acquired by Takeda Pharmaceutical Company, a subsidiary of Shanghai Pharmaceuticals, for $6 billion on February 8, 2023. The company designs and develops breakthrough medicines for the treatment of multiple autoimmune diseases.

NuVasive / Globus Medical: The company reached a definitive agreement to be acquired by Globus Medical for $3 billion on February 9, 2023. NuVasive Inc is a medical device company focused on minimally invasive surgical products and integrated solutions for spine surgery.

Cardiovascular Systems / Abbott: The company reached a definitive agreement to be acquired by Abbott for $890 million on February 8, 2023. Cardiovascular Systems Inc is a medical technology company focused on patients with peripheral and coronary artery diseases.

Caption Health / GE Healthcare: The company was acquired by GE Healthcare for an undisclosed amount on February 10, 2023. The company is a developer of medical imaging software designed to help in the diagnosis and management of heart disease.

Okra / Envision Pharma Group: The company was acquired by Envision Pharma Group, via its financial sponsors Northwestern Mutual, Barton Technology Ventures, GHO Capital, HarbourVest Partners and Mubadala Investment Company, through an LBO on February 7, 2023 for an undisclosed amount. The company is a developer of an Artificial Intelligence-based analytics platform designed for personalized medicine.

Trials.ai / ZS Associates: The company was acquired by ZS Associates for an undisclosed amount on February 6, 2023. The company is a developer of a protocol technology platform designed to optimize clinical trials for speed and success.

Viewpoint Molecular Targeting / IsoRay Medical: The company was acquired by IsoRay Medical for an undisclosed amount on February 7, 2023. The company is a developer of pharmaceutical drugs and therapies intended for diagnostic imaging and therapy for cancer, with a focus on metastatic melanoma.