Healthcare Private Placement and M&A Transactions Review Week Ending February 19 2023

Hexagon Bio: The company raised $77.3 million of Series B venture funding from 8VC, Two Sigma Ventures and The Column Group on February 13, 2023. Nextech Invest, bpd partners and CPP Investments also participated in the round. The company is a developer of a synthetic biology platform designed to use data science to search for genomes for small molecule inhibitors of selected target proteins.

Third Pole Therapeutics: The company raised $43.8 million of Series B2 venture funding from Acorn Campus Taiwan and Starpath Ventures on February 18, 2022. The company is a developer of a medical inhalation device designed to offer life-saving cardiopulmonary therapies.

C2N Diagnostics: The company raised $35 million of Series B venture funding from GHR Foundation on February 17, 2023. The company is an operator of a specialty diagnostics business intended to accelerate novel diagnostics and therapies for Alzheimer’s disease.

Quanta Therapeutics: The company raised $30 million of venture funding from undisclosed investors on February 17, 2023. The company is an operator of a biopharmaceutical business intended to create drugs for oncology treatments.

Maxion Therapeutics: The company raised GBP 13.0 million of Series A venture funding in a deal led by LifeArc on February 15, 2023, putting the company’s pre-money valuation at GBP 11.2 million. BGF, Monograph Capital and other undisclosed investors also participated in the round. The company is a developer of a drug discovery platform designed to generate antibody-like therapeutics to solve ion channel and GPCR-driven diseases.

Koios Medical: The company raised $8.0 million of venture funding from undisclosed investors on February 17, 2023. The company is a developer of an ultrasound image analysis platform intended to offer early disease detection and diagnosis.

Freedom Biosciences: The company raised an undisclosed amount of venture funding from LongeVC on February 15, 2023. The company is a developer of a biotechnology platform intended to develop next-generation psychedelic therapeutics.

Astrea Bioseparations / Biotage: The company, a subsidiary of Gamma Biosciences, reached a definitive agreement to be acquired by Biotage for an undisclosed amount on February 15, 2023. The company is a developer of affinity purification technology focused on helping to bring small and large molecule and advanced therapies to market with bioseparation adsorbents and resins.

Austin Biosciences / Financial Strategies Acquisition: The company reached a definitive agreement to acquired by Financial Strategies Acquisition through a reverse merger, resulting in the combined entity trading on the Nasdaq Capital Market under the ticker symbol “ASTN.” on February 13, 2023. The company is a developer of a susceptible cancer diagnostic test intended for women with pre-invasive or metastatic breast cancer.

DiaSorin / Cytek: The company reached a definitive agreement to be acquired by Cytek for an undisclosed amount on February 13, 2023. The company is a manufacturer of flow cytometry imaging tools intended to provide in-depth information on all aspects of phenotypes and cell morphology.

Gene Predictis / Apposite Capital: The company was acquired by NIMGenetics, via its financial sponsor Apposite Capital, through an LBO on February 13, 2023 for an undisclosed amount. The company is a developer of polygenic and multifactorial risk scores intended for interpreting complex genetic data.

Guardian Radiology / Canada Diagnostic Centres: The company was acquired by Canada Diagnostic Centres, via its financial sponsor Novacap, through an LBO on February 14, 2023 for an undisclosed amount. The company is a provider of radiology and teleradiology procedures intended for diagnostic purposes.

Lightning MD / Elation Health: The company was acquired by Elation Health for an undisclosed amount on February 16, 2023. The company is a developer of a Saas-based medical billing and payer services software platform.

Mirexus / Mibelle Group Biochemistry: The company was acquired by Mibelle Group Biochemistry for an undisclosed amount on February 15, 2023. The company is a producer of natural biomaterials intended to commercialize nanotechnology based on polysaccharide nanoparticles.