Healthcare Private Placement and M&A Transactions Review Week Ending January 15 2023

Carbon Health: The company raised $100 million of Series D-2 venture funding in a deal led by CVS Health Ventures on January 9, 2023, putting the company’s pre-money valuation at $1.3 billion. The company is an operator of mobile-based healthcare networks and clinics intended to offer simple, convenient, and accessible healthcare.

Vaxess Technologies: The company raised $45 million of Series B venture funding in a deal led by Mission BioCapital, The Engine and RA Capital Management on January 11, 2023. The company is a developer of novel therapies designed to help in oncology care and infectious diseases.

Aethon Therapeutics: The company raised $30 million of Series A venture funding from NYU Langone Health, ATP (Apple Tree Partners), and other undisclosed investors on January 9, 2023, putting the company’s pre-money valuation at $5.8 million. The company is an operator of a health technology platform intended to serve the convergence of targeted and immune therapy.

Pattern: The company raised $23.5 million of venture funding from undisclosed investors on January 12, 2023. The company is a provider of patient care and treatment analysis services intended to simplify antibiotic selection for life-threatening infections.

Form Health: The company raised $22.9 million of Series A venture funding in a deal led by M13 on January 13, 2023, putting the company’s pre-money valuation at $40 million. SignalFire and NextView Ventures also participated in the round. The company is an operator of a telemedical weight loss company intended to help people lose weight in a medically supervised environment.

PBS Biotech: The company received $22 million of development capital from BroadOak Capital Partners on January 9, 2023 led by Avego Management. 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.

ReCode Therapeutics: The company closed on $15 million of an undisclosed targeted amount of venture funding from Cystic Fibrosis Foundation on January 10, 2023. The company is an integrated genetic medicines business intended to develop targeted, disease-modifying therapies for patients.

BIOHM Health: The company raised $7.5 million of venture funding led by VTC Ventures with participation from Cleveland Life Science Advisors, Aztec Capital and Valley Growth Ventures on January 12, 2023. The company is a developer of probiotic products and tests intended for the health and wellness sectors.

OXcan: The company raised GBP 3.1 million of venture funding in a deal led by Eka Ventures on January 10, 2023, putting the company’s pre-money valuation at GBP 13.5 million. The company is a developer of an artificial intelligence-based healthcare platform designed to identify cancers through targeted blood testing.

Palarum: The company raised $3.7 million of venture funding from undisclosed investors on January 9, 2023. The company is a developer of wearable technology designed to prevent patient falls and enhance rehabilitation therapy.

CinCor Pharma / AstraZeneca: The company reached a definitive agreement to be acquired by AstraZeneca for $1.8 billion on January 9, 2023. CinCor Pharma Inc is a clinical-stage biopharmaceutical company focused on developing its lead clinical candidate, CIN-107, for the treatment of hypertension and other cardio-renal diseases.

Albireo / Ipsen Group: The company reached a definitive agreement to be acquired by Ipsen Group for $952 million on January 9, 2023. Albireo Pharma Inc is a commercial-stage biopharmaceutical company.

Calidi Biotherapeutics / First Light Acquisition Group: The company is in talks to be acquired by First Light Acquisition Group through a reverse merger for estimated $42 million on January 9, 2023. The company is a developer of oncolytic virus-based immunotherapies designed to provide treatments for difficult-to-treat cancers.

Soin Therapeutics / JanOne: The company was acquired by JanOne for $30 million on January 10, 2023. company is a developer of oral drugs intended to serve chronic medical diseases.

BACKBONE / Companion Spine: The company was acquired by Companion Spine for an undisclosed amount on January 10, 2023. The company is a manufacturer of medical devices intended for spine surgery.

BioActor / Solabia Group: The company was acquired by Solabia Group, via its financial sponsor TA Associates Management, through an LBO on January 12, 2023 for an undisclosed amount. The company is a developer of natural health ingredients designed to promote healthy living and wellness.

Carelide / Laboratoire AGUETTANT: The company reached a definitive agreement to be acquired by Laboratoire AGUETTANT and Delpharm for an undisclosed amount on January 13, 2023. The company is a manufacturer of pharmaceuticals and disposable medical equipment for the healthcare industry.

Delta Precision / Astrea Bioseparations: The company was acquired by Astrea Bioseparations, a subsidiary of Gamma Biosciences, for an undisclosed amount on January 9, 2023. The company is a developer and manufacturer of chromatography products and components intended to serve the biopharmaceutical and biotechnology industries.

Hospital IQ / LeanTaaS: The company was acquired by LeanTaaS, via its financial sponsor Bain Capital, through an LBO on January 10, 2023 for an undisclosed amount. The company is a developer of operations management software designed to provide hospitals and health systems with visibility and actionable insights.

Humedics / Advanced Biological Laboratories: The company was acquired by Advanced Biological Laboratories for an undisclosed amount on January 11, 2023. The company is a developer of point-of-care breath-based assays designed for the assessment of liver functions.