Healthcare Private Placement and M&A Transactions Review Week Ending Jan 12, 2025

Verdiva Bio: The company raised $410 million of Series A venture funding in a deal led by General Atlantic and Forbion on January 9, 2025. Lilly Asia Ventures, OrbiMed, LYFE Capital, RA Capital Management, and Logos Capital also participated in the round. The company is an operator of a cardiometabolic health business intended to help people living with obesity, cardiometabolic disorders, and related complications.

Kardigan: The company raised $300 million of Series A venture funding in a deal led by Sequoia Heritage, Perceptive Advisors and ARCH Venture Partners on January 10, 2025. Other undisclosed investors also participated in the round. The company is an operator of a heart health business intended to modernize cardiovascular drug development.

Innovaccer: The company raised $275 million of Series F venture funding in a deal led by Kaiser Permanente on January 9, 2025, putting the company’s pre-money valuation at an estimated $3.2 billion. M12, Danaher Ventures, Banner Health, Generation Investment Management, Patni Financial Advisors, B Capital Group, Mubadala Capital and other undisclosed investors also participated in the round. The company is a developer of a healthcare data technology platform intended to deliver insights and digital products to healthcare providers.

Aviceda Therapeutics: The company raised $207.5 million of Series C venture funding in a deal led by Omega Funds and TCG Crossover Management on January 7, 2025. Jeito, Enavate Sciences, OrbiMed, Longitude Capital, Digitalis Ventures, Catalio Capital Management, Blue Owl Capital, Abrdn, Logos Capital and Marshall Wace also participated in the round. The company is an operator of a biotechnology business intended to develop breakthrough glycol-therapeutics for patients.

Numab: The company raised CHF 180 million of Series C venture funding in a deal led by Novo Holdings, Cormorant Asset Management and HBM Partners on January 9, 2025. Forbion, HBM Healthcare Investments, BVF Partners, RTW Investments, BlackRock and Octagon Capital Advisors also participated in the round. The company is an operator of a biopharmaceutical business intended to develop multispecific antibody-based immunotherapies.

Timberlyne Therapeutics: The company raised $180 million of Series A venture funding in a deal led by Bain Capital Life Sciences, Venrock and Abingworth on January 9, 2025. Lilly Asia Ventures, Boyu Capital, 3H Health Investment, and Braidwell also participated in the round. The company is an operator of a biopharmaceutical business intended to develop and commercialize therapies for autoimmune diseases.

Tune Therapeutics: The company raised $175 million of Series B venture funding in a deal led by Hevolution Foundation, Regeneron Ventures and Yosemite on January 12, 2025. The company is a developer of an epigenetic programming platform designed to create regenerative therapies for common and chronic diseases.

Ouro Medicines: The company raised $120 million of Series A venture funding in a deal led by TPG Life Sciences Innovations, Nea and Norwest Venture Partners on January 10, 2025. GSK, UPMC Enterprises, Boyu Capital, LongRiver Investments, Zoo Capital and Monograph Capital also participated in the round. The company is a developer of a therapeutic platform designed to develop immune reset treatments for chronic immune-mediated diseases.

Aspect Biosystems: The company raised $115 million of Series B venture funding in a deal led by Dimension. on January 8, 2025. Novo Nordisk, InBC Investment, T1D Fund, Pallasite Ventures, Pangaea Ventures, Radical Ventures, Rhino Ventures, and other undisclosed investors also participated in the round. The company is a developer of bioprinted tissue therapeutics that are designed to replace, repair, or supplement biological function in the body.

Geneoscopy: The company raised $105 million of Series C venture funding in a deal led by Bio-Rad Laboratories on January 8, 2025, putting the company’s pre-money valuation at $335 million. Laboratory Corporation of America, NT Investments, Mercy Health, Petrichor Healthcare Capital Management, Lightchain Capital, Morningside Group, Granger Management and Tri Locum Partners also participated in the round. The company is a developer of noninvasive tests that improve gastrointestinal disease detection, treatment, and monitoring.

Circle Pharma: The company raised $92.4 million of Series D venture funding in a deal led by The Column Group on January 10, 2025. Nextech Invest, Mission BioCapital, Euclidean Capital, and other undisclosed investors also participated in the round. The company is a developer of a new generation of macrocycle therapies designed to be cell-permeable and that can be delivered by multiple routes, including oral administration.

A2 Bio: The company raised $80 million of Series C venture funding from The Column Group, Samsara BioCapital and other undisclosed investors on January 9, 2025. The company is a developer of a cell therapy designed to cure cancer via tumor-specific targeting.

Francis Medical: The company raised $80 million of Series C venture funding in a deal led by Arboretum Ventures and Solas BioVentures on January 7, 2025, putting the company’s pre-money valuation at $150 million. CHK Cleveland Tonkawa, Coloplast, Orlando Health, New Day Venture Capital, and other undisclosed investors also participated in the round. The company is a developer of novel treatments for cancer in the prostate gland, urinary bladder, and kidney.

XyloCor Therapeutics: The company raised $67.5 million of Series B venture funding in a deal led by Jeito on January 7, 2025, putting the company’s pre-money valuation at $62.5 million. EQT Life Sciences, Fountain Healthcare Partners, Lumira Ventures and other undisclosed investors also participated in the round. The company is an operator of a bio-pharmaceutical firm intended to develop gene therapy for people with advanced coronary artery disease.

Light Horse Therapeutics: The company raised $62 million of Series A venture funding in a deal led by Versant Ventures on January 9, 2025. AbbVie Ventures, Bristol-Myers Squibb, Taiho Ventures, and Mubadala Investment Company also participated in the round. The company is an operator of a small molecule drug discovery business intended to develop new CRISPR-based functional site-dependency maps.

Coave Therapeutics: The company raised EUR 32 million of venture funding in a deal led by Novo Holdings and Bpifrance on January 9, 2025. Omnes Capital, Turenne Groupe, The Invus Group, UI Investissement, Seroba Life Sciences, Kurma Partners and Fund+ also participated in the round. The company is a developer of gene therapies designed to treat rare retinal diseases.

Deciphex: The company raised $32.3 million of Series C venture funding in a deal led by Molten Ventures on January 7, 2025. Charles River Laboratories International, NextSteps Capital, Medtech Syndicate Nominee, Seroba Life Sciences, Act Venture Capital and Irrus Investments also participated in the round. The company is a developer of medical software applications for preclinical pathology.

Zeto: The company raised $31 million in Series B venture funding in a deal led by MindWorks Global on January 8, 2025, putting the company’s pre-money valuation at $74 million. The company is a developer of a medical diagnostic device designed to monitor brain activities.

Epicore Biosystems: The company raised $25.7 million of Series B venture funding from undisclosed investors on January 6, 2025, putting the company’s pre-money valuation at $89.3 million. The company is a developer of a wearable microfluidic sensor technology.

Cambrian Bio: The company raised $23 million of venture funding in the form of SAFE notes from Sprint VC, Calm Ventures and Mount Nebo Capital on January 10, 2025. Gaingels, Shake and Bake, Care Bear, FJ Labs, Richard Dulude and SV Pacific Ventures also participated in the round. The company is a developer of a portfolio of medicines designed to target the causes of age-related diseases.

PBS Biotech: The company received $17 million of development capital from BroadOak Capital Partners and Avego Management on January 6, 2025. The company is a manufacturer of single-use bioreactor systems intended to create homogeneous and scalable mixing conditions for a variety of sensitive cell therapy products and cell culture applications.

Inari Medical / Stryker: The company reached a definitive agreement to be acquired by Stryker for approximately $4.9 billion on January 6, 2025. Inari Medical Inc is a medical device company focused on developing products to treat patients suffering from Chronic Venous Disease.

Poseida Therapeutics / Roche: The company was acquired by Roche for $1.5 billion on January 8, 2024. Poseida Therapeutics Inc is a clinical-stage biopharmaceutical company focused on leveraging non-viral gene engineering technologies to create life-saving therapeutics for patients with a high unmet medical need.

IDRx / GSK: The company reached a definitive agreement to be acquired by GSK for an estimated $1.15 billion on January 8, 2025. The company is a developer of oncology-based precision therapies for the treatment of cancer.

Scorpion Therapeutics / Eli Lilly and Company: The company reached a definitive agreement to be acquired by Eli Lilly and Company for up to $2.5 billion on January 11, 2025. The company is an operator of a precision therapeutics business intended for cancer treatments.

Biospatial / ImageTrend: The company was acquired by ImageTrend, via its financial sponsor Welsh, Carson and Anderson & Stowe, through an LBO on January 6, 2025 for an undisclosed amount. The company is a developer of an online healthcare data platform designed to build a national network of data partners and operational users to support public health sectors.

Bolt Medical / Boston Scientific: The company reached a definitive agreement to be acquired by Boston Scientific for an undisclosed amount on January 8, 2025. The company is a developer of laser-based intravascular lithotripsy catheters designed for coronary and peripheral interventional procedures.

Decisio Health / AirStrip: The company was acquired by AirStrip for an undisclosed amount on January 6, 2025. The company is a developer of a clinical decision support platform intended to aggregate and prioritize real-time data in healthcare organizations.

Mopec / Waud Capital Partners: The company was acquired by Waud Capital Partners through an LBO on January 6, 2025 for an undisclosed amount. The company is a manufacturer of medical equipment and laboratory products intended for the pathology, histology, necropsy, autopsy and mortuary industries.

Protenus / Bluesight: The company was acquired by Bluesight, via its financial sponsor Thoma Bravo, through an LBO on January 9, 2025 for an undisclosed amount. The company is a developer of a healthcare compliance analytics platform intended to protect patient privacy and secure health data.

Proteos / NanoImaging Services: The company was acquired by NanoImaging Services for an undisclosed amount on January 6, 2025. The company is an operator of a contract research organization intended to deliver quality research reagents and data.

Ribbon / H1: The company was acquired by H1 for an undisclosed amount on January 8, 2025. The company is a developer of an API data platform designed to deliver comprehensive data across providers, insurance, conditions, and procedures treated, as well as cost and quality metrics.

Tavros Therapeutics / Vividion Therapeutics: The company was acquired by Vividion Therapeutics, a subsidiary of Bayer, for an undisclosed amount on January 8, 2025. The company is a developer of oncological drugs designed to treat cancer.