Healthcare Private Placement and M&A Transactions Review Week Ending January 22 2023

ADARx Pharmaceuticals: The company raised $46 million of Series B1 venture funding in a deal led by Ascenta Capital on January 20, 2023. Lilly Asia Ventures, OrbiMed, SR One, and Sirona Capital also participated in the round. The company is a developer of a messenger RNA base-editing platform designed to turn cutting-edge science into life-saving therapeutics.

SiPhox: The company raised $12.5 million of venture funding from undisclosed investors on January 18, 2023. SiPhox is a next-generation blood diagnostics hardware and wearables company that uses silicon photonic biosensors to provide biomarker testing for health monitoring and improvement.

EvolveImmune Therapeutics: The company raised $10.8 million of venture funding in the form of convertible promissory notes from undisclosed investors on January 19, 2023. The company is a developer of novel immunotherapies designed to provide treatments for unmet needs in oncology and autoimmune diseases.

Endevica Bio: The company raised $10 million of Series B venture funding from Missouri Technology Corporation, Centennial Investors, and other undisclosed investors on January 19, 2023. The company is a developer of therapeutic drugs intended to treat cachexia due to cancer and other chronic conditions.

DeuterOncology: The company raised EUR 5.7 million of Series A venture funding in a deal led by Newton BioCapital, Noshaq and Investsud on January 19, 2023. The company is a developer of MET inhibitors intended to optimize oncology treatments and outcomes.

Novel Microdevices: The company raised $5.1 million of Series A venture funding in the form of convertible debt from TEDCO on January 17, 2023. The company is a developer of a handheld point-of-care medical device designed to facilitate molecular diagnostics.

Soricimed: The company raised $2.8 million of venture funding from New Brunswick Innovation Foundation and other undisclosed investors on January 18, 2023. The company is an operator of a clinical-stage drug development company intended to provide novel targeted treatments for cancer.

AVEO Oncology / LG Chem: The company was acquired by LG Chem (KRX: 051910) for $566 million on January 19, 2023. AVEO Pharmaceuticals Inc is a commercial-stage, oncology-focused biopharmaceutical company.

Neogene Therapeutics / AstraZeneca: The company was acquired by AstraZeneca (LON: AZN) for $200 million on January 16, 2023. The company is an operator of a biotechnology business that develops next-generation, fully personalized engineered T-cell therapies for a broad spectrum of cancers.

Ayala Pharmaceuticals / Advaxis: The company was acquired by Advaxis (PINX: ADXS) for an undisclosed amount on January 19, 2023. Ayala Pharmaceuticals is a clinical-stage oncology company focused on developing and commercializing small molecule therapeutics for patients suffering from rare and aggressive cancers, primarily in genetically defined patient populations.

Concert Pharmaceuticals / Sun Pharmaceutical Industries: The company reached a definitive agreement to be acquired by Sun Pharmaceutical Industries for an undisclosed amount on January 19, 2023. Concert Pharmaceuticals Inc is a clinical-stage biopharmaceutical company.

Elicio Therapeutics / Angion Biomedica: The company reached a definitive agreement to go public through a reverse merger, resulting in the combined entity trading on the NASDAQ Stock Exchange under the ticker symbol ANGN on January 17, 2023. The company is a developer of novel immunotherapies and vaccines designed to facilitate the treatment of cancer and other diseases.

SB Drug Discovery / Sygnature Discovery: The company was acquired by Sygnature Discovery, via its financial sponsor Barton Technology Ventures and Five Arrows Principal Investments, through an LBO on January 17, 2023 for an undisclosed amount. The company is a contract research organization that specializes in biochemical and cell-based screening assays.