Strategy | Financing | Macro & Markets
Private Placement / Financing Transactions

Garner: The company raised $118 million of Series D venture funding in a deal led by Kleiner Perkins on February 10, 2026, putting the company’s pre-money valuation at $1.23 billion. Kaiser Permanente Ventures, Mercy, Plus Capital, Maverick Ventures, Redpoint Ventures, and other undisclosed investors also participated in the round. The company is a developer of a healthcare data analytics platform used to analyze care delivery and outcomes to improve healthcare quality and affordability.

QuantX: The company raised $85 million of Series B venture funding in a deal led by Sanofi Ventures and Lilly Asia Ventures on February 9, 2026. Hongshan Technology, Creacion Ventures, OrbiMed and other undisclosed investors also participated in the round. The company is a developer of computational drug discovery technology used to design oral small-molecule therapeutics for immunology and inflammation indications.

Neurent Medical: The company raised $74 million of Series C venture funding in a deal led by MVM Partners on February 11, 2026. Atlantic Bridge Capital, Enterprise Ireland, EQT Life Sciences, Sofinnova Partners and Fountain Healthcare Partners also participated in the round. The company is a developer of a non-surgical intervention device designed to treat chronic rhinitis.

Anterior: The company raised $40 million of venture funding from Sequoia Capital, New Enterprise Associates and Five Paces Ventures on February 12, 2026. Kinnevik also participated in the round. The company is a developer of a clinical AI platform designed to automate payer workflows for health plans.

Aerska: The company raised $39 million of Series A venture funding in a deal led by Age 1 and EQT Life Sciences on February 9, 2026. Iaso Ventures and other undisclosed investors also participated in the round. The company is a developer of RNA medicines designed to treat, delay, and prevent diseases of the brain.

Stroma Medical: The company is in the process of raising $25 million of Series C venture funding on February 11, 2026. The company is an operator of a medical device platform intended to permanently change eye color by selectively reducing iris pigmentation.

Kainova Therapeutics: The company raised CAD 32 million of Series B venture funding in a deal led by Investissement Quebec on February 10, 2026. adMare Bioinnovations, Turenne Groupe, Seventure, Panacea Venture, CTI Life Sciences Fund, 3B Future Health Fund, Seido Capital, Viva BioInnovator and Schroders Capital also participated in the round. The company is a developer of medical therapeutics designed for the treatment of central nervous system diseases and cancer.

Exact Imaging: The company raised $10 million of venture funding in a deal led by iGan Partners on February 10, 2026. The company is a developer of high-resolution micro-ultrasound systems designed for real-time prostate imaging and biopsy guidance.

Huxley Medical: The company raised $9.9 million of venture funding from undisclosed investors on February 12, 2026. The company is a developer of a care delivery platform used to maintain continuity across locations for patients and clinicians.

HeartHero: The company raised $7.8 million of venture funding in the form of convertible debt from undisclosed investors on February 9, 2026. The company is a developer of an automated external defibrillator.

Neupulse: The company raised GBP 3 million of venture funding in a deal led by Eos Advisory and Midlands Engine Investment Fund on February 13, 2026, putting the company’s pre-money valuation at GBP 11.54 million. Mercia Ventures and other undisclosed investors also participated in the round. The company is a developer of a neuromodulation device designed to help individuals monitor and control tics.

GeniPhys: The company raised $3.2 million of venture funding from undisclosed investors on February 13, 2026, putting the company’s pre-money valuation at $6.8 million. The company is a developer of a polymerizable collagen product designed to support site-appropriate tissue generation without evoking inflammation.

Avela Health: The company raised $10 million of venture funding from The Artemis Fund, GingerBread Capital, and Rethink Capital Partners on February 9, 2026. The company is a provider of autism care programs intended to support families navigating neurodivergent needs.

Berlin Heals: The company raised $10 million of venture funding from undisclosed investors on February 12, 2026. The company is a developer of a cardiac implant device used to treat heart failure via electrical microcurrent therapy.

BioReact: The company raised an undisclosed amount of venture funding from Hurricane Ventures and The University of Tulsa on February 12, 2026. The company is a developer of cloud-based artificial intelligence software designed for bioprocess development and optimization.

Leon Nanodrugs: The company raised an undisclosed amount of venture funding from LBBW Venture Capital on February 12, 2026. The company is a developer of nanoscience-based drug formulation technology used to improve solubility and bioavailability of poorly water-soluble drugs via nanoparticle and liposomal delivery manufacturing.

Regenity Biosciences: The company received an undisclosed amount of development capital from Cinven on February 12, 2026. The company is a manufacturer of collagen and mineral-based medical devices used for tissue, bone, and nerve repair.


M&A Transactions

Dynavax Technologies / Sanofi: The company was acquired by Sanofi for $2.2 billion on February 10, 2026. The company is a developer of vaccine adjuvant and immunostimulatory technology used to activate innate and adaptive immune responses.

Orna Therapeutics / Eli Lilly: The company reached a definitive agreement to be acquired by Eli Lilly for $2.4 billion on February 9, 2026. The company is a developer of engineered circular RNA technology designed for therapeutic purposes.

Avadel Pharmaceuticals / Alkermes: The company was acquired by Alkermes for $2.3 billion on February 12, 2026. The company is a developer of differentiated drug products designed to be administered in various forms such as capsules, tablets, and injectables.

Doseform / Revive Health: The company was acquired by Revive Health, via its financial sponsor Eir Partners, through an LBO on February 11, 2026 for an undisclosed amount. The company is a developer of a patient communication platform that automates patient engagement and streamlines pharmacy operations.

Generation Bio / Xoma: The company was acquired by Xoma on February 9, 2026. The company is a developer of genetic medicines used to create durable and redosable treatments for rare and untreated diseases.

Huly / Traumasoft: The company was acquired by Traumasoft, via its financial sponsor Serent Capital, through an LBO on February 9, 2026 for an undisclosed amount. The company is a developer of an AI-native platform designed to enhance emergency medical services workflows by automating time-intensive administrative processes.

medimo / Suzuken: The company was acquired by Suzuken for an undisclosed amount on February 12, 2026. The company is a developer of an artificial intelligence tool designed to create medical record manuscripts from medical audio.

Purna Pharmaceuticals / Ampersand Capital Partners: The company was acquired by Ampersand Capital Partners through an LBO on February 12, 2026 for an undisclosed amount. The company is a manufacturer of pharmaceutical products intended to produce semi-solid, liquid, and powdered medicines for clinical and commercial use.

SpotItEarly / Fox Chase Cancer Center: The company was acquired by Fox Chase Cancer Center, a subsidiary of Temple Health, for an undisclosed amount on February 11, 2026. The company is a developer of a breath-based cancer detection technology used to detect volatile organic compounds from at-home samples.


Source: Pitchbook Data, Inc.

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