Healthcare Private Placement and M&A Transactions Review Week Ending Jan 21, 2024

ClevelandDx: The company raised $75 million through a combination of debt, Series E1 and Series E2 venture funding in a deal led by Novo Holdings on January 17, 2024, putting the company’s pre-money valuation at $200 million. Other undisclosed investors also participated in the round. The company is a developer of a medical technology designed to detect cancer in early stages.

SmartLabs: The company raised $48 million of Series C venture funding from Conversion Venture Capital, ArrowMark Partners, and Winslow Capital Management on January 18, 2024. The company builds and operates full-service labs.

Relation: The company raised $40.25 million of venture funding from undisclosed investors on January 19, 2024. The company is an operator of a drug discovery platform intended to accelerate the development of new treatments for diseases.

Onera: The company raised EUR 30 million of Series C venture funding in a deal led by Gimv and EQT Life Sciences on January 16, 2024. Brabantse Ontwikkelings Maatschappij, imec.xpand, 15th Rock, Innovation Industries and Invest-NL also participated in the round. The company is a developer of sleep diagnostic devices intended for clinical and non-clinical environments.

Certis: The company raised $10 million of Series C venture funding from undisclosed investors on January 17, 2024. The company is a developer of minimally invasive oncology therapy solutions based on real-time MRI guidance.

Epicore Biosystems: The company raised an estimated $10 million of Series A1 venture funding in a deal led by Denka Company and Pegasus Tech Ventures on January 17, 2024, putting the company’s pre-money valuation at $74.5 million. The company is a developer of a wearable microfluidic sensor technology designed to track health and athletic performance.

Cyrano Therapeutics: The company raised $9 million through a combination of Series B1 and Series B venture funding in a deal led by Florida Opportunity Fund on January 16, 2024, putting the company’s pre-money valuation at $31 million. Remiges Ventures, Lumira Ventures, and other undisclosed investors also participated in the round. The company is a developer of an intranasal therapy product designed for the restoration of chronic smell and flavor loss.

Bolt Navigation: The company raised $5.8 million of Series B venture funding in a deal led by Grand Oaks Capital on January 17, 2024. Impact Capital (New York) also participated in the round. The company is a developer of a surgical navigation system for spinal operations.

Engage Technologies Group: The company raised $4.7 million of venture funding in the form of convertible debt from undisclosed investors on January 17, 2024. The company is a developer of a proprietary mobile SaaS technology that simplifies patient engagement.

Avenda Health: The company raised $3.5 million of venture funding in the combination of convertible debt and equity from SCP Ventures and other undisclosed investors on January 17, 2024. The company is a developer of a fiber-optic laser device and a novel disposable sensor designed to treat cancer under local anesthesia using magnetic resonance imaging-ultrasound fusion.

Burst Diagnostics: The company raised $2.4 million of venture funding from undisclosed investors on January 18, 2024. The company is a developer of a rapid antigen diagnostic device tests designed to offer a new paper-based testing system.

Chronus Health: The company raised $2.2 million of venture funding from undisclosed investors in the form of convertible debt on January 18, 2024. The company delivers real-time blood test results to healthcare providers, supplying them with rapid, real-time diagnosis at the point of care.

Innodem Neurosciences: The company raised $2 million of venture funding from undisclosed investors on January 16, 2024. The company is a developer of a mobile, artificial intelligence-powered, digital biomarker technology designed to assist in the diagnosis of neurodegenerative diseases.

Upsher-Smith Laboratories / Bora Pharmaceuticals: The company reached a definitive agreement to be acquired by Bora Pharmaceuticals for $210 million on January 16, 2024. The company is a manufacturer of pharmaceutical products that include affordable generic medications like capsules and tablets for varied diseases and illnesses.

Biomage / Parse Biosciences: The company was acquired by Parse Biosciences for an undisclosed amount on January 17, 2024. The company is a developer of a single-cell discovery platform designed to serve research biologists.

Cynosure / Lutronic: The company, a subsidiary of Nu Skin Enterprises, entered into a definitive agreement to be acquired by Lutronic, via its financial sponsor Hahn & Company, through an LBO on January 19, 2024. The company is a designer and manufacturer of aesthetic treatment systems.

Propagenix / StemCell Technologies: The company was acquired by StemCell Technologies for an undisclosed amount on January 19, 2024. The company is a engaged in the development and commercialization of technology for expanding and differentiating tissue-resident epithelial stem cells from tissues such as skin, airway, kidney and cornea.

Summit Biosciences / Kindeva Drug Delivery: The company was acquired by Kindeva Drug Delivery, via its financial sponsor Altaris Capital Partners and Monroe Capital, through an LBO on January 18, 2024 for an undisclosed amount. The company is a developer of a specialized pharmaceutical platform designed to focus on developing, manufacturing, and commercializing generic and innovative nasal spray medicines.