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

Cardurion: The company raised $260 million of Series B venture funding in a deal led by Ascenta Capital on July 16, 2024, putting the company’s pre-money valuation at $500 million. GV, Bain Capital, The Invus Group, Delos Capital, Digitalis Ventures, New Enterprise Associates, Blue Owl Capital, Fidelity Management & Research, Millennium Management and Farallon Capital Management also participated in the round. The company is an operator of a biotechnology business that develops treatments for cardiovascular diseases, including heart failure.

Catalym: The company raised $150 million of Series D venture funding in a deal led by Canaan Partners and Bioqube Ventures on July 16, 2024. Novartis Venture Fund, Jeito, Brandon Capital, Omega Funds, Gilde Healthcare, Forbion and Vesalius Biocapital Partners also participated in the round. The company is an operator of a biopharmaceutical business intended to develop antibodies in patients to improve cancer treatment options.

Scorpion Therapeutics: The company raised $150 million in Series C venture funding in a deal led by Frazier Healthcare Partners and Lightspeed Venture Partners on July 16, 2024, putting the company’s pre-money valuation at $745 million. Boxer Capital, The Invus Group, OrbiMed, Casdin Capital, Nextech Invest, EcoR1 Capital, Atlas Venture, Omega Funds, Vida Ventures (Boston), Abingworth, Wellington Management, Woodline Partners, Logos Capital, Surveyor Capital, Willett Advisors and Fidelity Management & Research also participated in the round. The company is an operator of a biotechnology business intended to expand the reach of precision medicine to more people with cancer.

NGM Biopharmaceuticals: The company received $122 million of development capital led by The Column Group and other undisclosed investors on July 17, 2024. The company is an operator of a biopharmaceutical platform intended to focus on the treatment of diabetes and obesity.

Myricx Bio: The company raised $114 million of Series A venture funding in a deal led by Abingworth and Novo Holdings on July 8, 2024. Lilly Capital, British Patient Capital, Sofinnova Partners, Brandon Capital and Cancer Research Horizons also participated in the round. The company is a biotechnology business that develops antibody drug conjugates (ADCs) to treat cancer.

Asceneuron: The company raised $100 million of Series C venture funding in a deal led by Novo Holdings on July 16, 2024. M Ventures, Johnson & Johnson Innovation – JJDC, GSK, OrbiMed, EQT Life Sciences, Sofinnova Partners and SR One Capital Management also participated in the round. The company is an operator of a biotechnology business intended to develop orally bioavailable therapeutics for debilitating neurodegenerative disorders with unmet medical needs.

SciRhom: The company raised EUR 63 million of Series A venture funding in a deal led by Andera Partners, Kurma Partners and Hadean Ventures on July 9, 2024. MIG Capital, Wellington Partners, High-Tech Gründerfonds, PhiFund Ventures and Bayern Kapital also participated in the round. The company is a developer of therapeutic antibodies designed to improve autoimmune disease therapies.

GRO Biosciences: The company raised $60 million of Series B venture funding in a deal led by Access Biotechnology and Atlas Venture on July 19, 2024. Leaps by Bayer, Digitalis Ventures, Innovation Endeavors, and Redmile Group also participated in the round. The company is a developer of a protein therapeutics technology designed to develop improved treatments across multiple disease classes including diabetes, growth disorders, and autoimmunity.

Octagos Health: The company raised $43 million in Series B venture funding in a deal led by Morgan Stanley Expansion Capital on July 9, 2024, putting the company’s pre-money valuation at $800 million. Mucker Capital and other undisclosed investors also participated in the round. The company is a developer of a cardiac remote monitoring software designed to monitor and consolidate device transmissions and patient data in real-time.

Promaxo: The company raised $41.9 million of Series B3 venture funding in a deal led by MicroPort Scientific on July 10, 2024, putting the company’s pre-money valuation at $185 million. K2X, Zepp Health, iO life ventures, Zynext Ventures, Spark Growth Ventures, Warren Point Capital, Frederic H. Moll, Angel Physicians Fund, Band of Angels, Keiretsu Forum and Som Tech also participated in the round. The company is a developer of a portable magnetic resonance imaging (MRI) system designed to diagnose prostate cancer disease.

Adona Medical: The company raised $33.5 million of Series C venture funding in a deal led by Cormorant Asset Management and The Capital Partnership on July 10, 2024, putting the company’s pre-money valuation at $131.5 million. PA MedTech VC Fund, Unorthodox Ventures, Excelestar Ventures, AMED Ventures and other undisclosed investors also participated in the round. The company is a pre-clinical stage medical technology company developing next-generation interatrial shunting and remote patient monitoring solutions for patients with advanced heart failure.

miRecule: The company raised $30 million of venture funding from Sanofi on July 14, 2024. The company is an operator of a micro RNA-based therapeutics platform intended to treat cancer and muscular dystrophy.

Q Bio: The company raised $27 million of venture funding from Kaiser Foundation Hospitals, TELUS Global Ventures and Andreessen Horowitz on July 18, 2024. Founders Fund and Khosla Ventures also participated in the round. The company is an operator of a clinical digital twin platform designed to assess the medical history of patients in order to flag their immediate and future health risks.

858 Therapeutics: The company raised $25.2 million of venture funding from undisclosed investors on July 11, 2024. The company is an operator of a biotechnology business intended to discover innovative therapeutics for the treatment of cancers that are resistant to current therapies.

Neuspera: The company raised $23 million in Series D venture funding in a deal led by Treo Ventures and Vertex Ventures HC on July 15, 2024, putting the company’s pre-money valuation at $140 million. Action Potential Venture Capital, Olympus Innovation Ventures, Windham Capital Partners, and other undisclosed investors also participated in the round. The company is a developer of implantable medical devices designed to improve the lives of patients battling chronic illness.

Fluid Biomed: The company raised $20 million of Series A venture funding from HaloHealth and other undisclosed investors on July 16, 2024, putting the company’s pre-money valuation at $18 million. The company is a developer of polymer-based medical devices intended to commercialize unique hybrid metal brain stents to heal blood vessels.

Innovaccer: The company is reportedly in the process of raising an estimated $20 million of venture funding from International Finance Corporation on July 9, 2024. The company is a developer of a technology platform intended to change and improve healthcare delivery.

Thoughtful: The company raised $20 million of Series A venture funding in the combination of equity and convertible debt in a deal led by Drive Capital on July 18, 2024. TriplePoint Capital also participated in the round. The company is a developer of an artificial intelligence operating system designed for revenue cycle management (RCM) teams.

Digestiva: The company raised $18.44 million in Series A venture funding in a deal led by Magdalena on July 15, 2024, putting the company’s pre-money valuation at $30.6 million. The March Group, Astanor Ventures, UC Investments and other undisclosed investors also participated in the round. The company is a developer of proprietary protease enzymes designed for personalized nutrition products.

Lirio: The company raised $17.4 million of venture funding from undisclosed investors on July 18, 2024. The company is a developer of a behavior change AI platform intended to unite behavioral science with artificial intelligence.

HepaRegenix: The company raised EUR 15 million of Series C venture funding in a deal led by Vesalius Biocapital Partners on July 10, 2024. Boehringer Ingelheim Venture Fund, High-Tech Gründerfonds and Novo Holdings also participated in the round. The company is a developer of novel therapies designed to treat acute and chronic liver diseases.

Primrose Bio: The company raised $15 million of venture funding from 1315 Capital and other undisclosed investors on July 16, 2024. The company is a developer of constructive biology technologies designed to accelerate the evolution of highly efficient enzymes and microbes.

Loci Orthopaedics: The company raised EUR 12.8 million of Series A venture funding in a deal led by Johnson & Johnson Innovation, European Innovation Council Fund and Seroba Life Sciences on July 17, 2024. The company is a developer of novel technologies aimed at unmet clinical needs in orthopedic extremities.

Xellar Biosystems: The company raised CNY 100 million of venture funding in a deal led by Tripod Preclinical Research on July 17, 2024. Yayi International, Legend Capital, Zhengxuan Investment, and Tiantu Capital also participated in the round. The company is a biotechnology business that uses machine learning and large-scale wet-lab experiments to accelerate drug discovery and development.

SamanTree Medical: The company raised CHF 11.3 million of Series B venture funding in a deal led by Relyens on July 16, 2024, putting the company’s pre-money valuation at an estimated CHF 48.1 million. Wallonie Entreprendre, Noshaq, Panakes Partners, b2venture, Brabantse Ontwikkelings Maatschappij, Mutuelles Impact and Wille Finance also participated in the round. The company is a developer of medical imaging devices intended to improve cancer treatment care.

Qubit Pharmaceuticals: The company raised EUR 8 million of venture funding from undisclosed investors on July 11, 2024. The company is a developer of a drug discovery simulation platform designed to reduce the cost and length of preclinical drug development.

Praesidia Biotherapeutics: The company raised $7.4 million of venture funding through a combination of security from undisclosed investors on April 11, 2024. The company is an operator of a biotechnology business focused on drug discovery.

GalenusRx: The company raised $6.9 million of venture funding from undisclosed investors on July 17, 2024. The company is an operator of a medical platform that analyzes drug-drug, multi-drug, drug-gene, and drug-disease interactions to provide a unique and comprehensive risk assessment, individualized down to individual patient’s DNA.

Oisin Biotechnologies: The company raised $5.4 million in Series A venture funding from Methuselah Foundation, VitaDAO and Keiretsu Forum on July 12, 2024, putting the company’s pre-money valuation at $56 million. Jesse Rasch and other undisclosed investors also participated in the round. The company is a developer of senolytic therapy technology designed to reduce the effects of the aging process.

Intellistem: The company closed on $5 million of an undisclosed targeted amount of venture funding on July 12, 2024. The company is an operator of a clinical-stage biotech business that develops innovative cellular immune cancer therapy approaches.

CairnSurgical: The company raised $4.5 million of Series A2 venture funding from Morningside Group on July 9, 2024, putting the company’s pre-money valuation at $55 million. The company is a clinical stage medical device company developing patient-specific surgical guides using patient imaging data and state-of-the-art 3D printing technologies.

Ancilia Bio: The company raised $4.2 million of venture funding in a deal led by Safar Partners on July 17, 2024. Metaplanet, PsyMed Ventures, Spacecadet Ventures, Zubi Capital and other individual investors also participated in the round. The company is a developer of virus-resistant live bacterial products designed to modulate the human microbiome.

Lynch Regenerative Medicine: The company raised $3.8 million of Series A venture funding in a deal led by Champion Venture Partners and Samuel Lynch on July 16, 2024. The company is a developer of skin health treatments designed to improve skin rejuvenation.

SilkTech Biopharmaceuticals: The company raised $3.6 million of venture funding from undisclosed investors on July 18, 2024. The company is an operator of a biotechnology business intended to develop silk-based anti-inflammatory therapies

Antheia: The company raised an undisclosed amount of venture funding from Echo Investment Capital, In-Q-Tel and Viking Global Investors on July 19, 2024. The company is an operator of a biotechnology business intended to develop biosynthetic Key Starting Materials (KSMs) and Active Pharmaceutical Ingredients (APIs) for essential medicines.

Redbud Labs: The company raised an undisclosed amount of venture funding from VentureSouth on July 17, 2024. The company is a developer of microfluidic components for the life sciences industry.

Rubik Therapeutics: The company raised an undisclosed amount of Series A venture funding in a deal led by 5AM Ventures on July 9, 2024. Mayfield Fund also participated in the round. The company is an operator of a cancer therapeutics business intended to develop engineered cell therapies for solid tumor indications.

Morphic Therapeutic / Eli Lilly and Company: The company reached a definitive agreement to be acquired by Eli Lilly and Company for $3.2 billion on July 8, 2024. Morphic Holding Inc is a biopharmaceutical company focused on discovering and developing a pipeline of oral small-molecule integrin therapeutics.

Amolyt Pharma / AstraZeneca: The company was acquired by AstraZeneca for $1 billion on July 15, 2024. The company is an operator of a clinical-stage biotechnology business intended for the treatment of endocrine and metabolic disorders.

Systimmune / Bristol-Myers Squibb: The company was acquired by Bristol-Myers Squibb for $800 million on July 9, 2024. The company is an operator of a biopharmaceutical business intended to develop antibody-based drug therapies.

Acorda Therapeutics / Merz Therapeutics: The company was acquired by Merz Therapeutics, a subsidiary of Merz Pharma, for $185 million on July 10, 2024. Acorda Therapeutics Inc is a biopharmaceutical company engaged in developing therapies that restore function and improve the lives of people with neurological disorders.

APEIRON Biologics / Ligand Pharmaceuticals: The company reached a definitive agreement to be acquired by Ligand Pharmaceuticals for $100 million on July 8, 2024. The company is a developer of antibodies intended to combat cancer and respiratory diseases.

BeiGene / Yuanda Pharmaceuticals: The company was acquired by Yuanda Pharmaceuticals for CNY 260 million on July 17, 2024. BeiGene Ltd is a global oncology company that is discovering and developing innovative treatments that are more affordable and accessible to cancer patients worldwide.

Alicante / Ospi: The company was acquired by Ospi, via its financial sponsors Lauxera Capital Partners, Eurazeo, and Relyens, through an LBO on July 4, 2024 for an undisclosed amount. The company is a developer of artificial intelligence data valorization software intended for healthcare institutions.

Artelon / Stryker: The company was acquired by Stryker for an undisclosed amount on July 15, 2024. The company is a developer of tissue-regrowth technology designed for orthopedic soft tissue reconstruction.

FEops / Materialise: The company was acquired by Materialise for an undisclosed amount on July 18, 2024. The company is a developer of a cardiac imaging technology designed to improve and expand personalized treatment for patients with structural heart disease.

Fluent BioSciences / Illumina: The company was acquired by Illumina for an undisclosed amount on July 9, 2024. The company is an operator of a life science single-cell technology company intended to offer molecular analysis of cells without the use of complex microfluidic instrumentation.

ReShape Lifesciences / Vyome Therapeutics: The company reached a definitive agreement to be acquired by Vyome Therapeutics through a reverse merger, resulting in the combined entity trading on the NASDAQ Stock Exchange under the ticker symbol HIND on July 9, 2024. Reshape Lifesciences Inc is a medical device company focused on technologies to treat obesity and metabolic diseases.

RPS Oncology / Krueger-Gilbert Health Physics: The company was acquired by Krueger-Gilbert Health Physics, via its financial sponsors Archipelago Capital Partners and Blue Sea Capital, through an LBO on July 16, 2024 for an undisclosed amount. The company is a provider of therapy medical physics and dosimetry consulting services for radiation oncology clinics.

Sabal Therapeutics / Rosemont Pharmaceuticals: The company was acquired by Rosemont Pharmaceuticals, via its financial sponsor Inflexion Private Equity Partners, through an LBO on July 8, 2024 for an undisclosed amount. The company is a provider of pharmaceutical commercialization services intended to meet unmet patient needs by providing the platform for domestic entrepreneurs and international pharmaceutical companies.

Synsight / Iktos: The company was acquired by Iktos for an undisclosed amount on July 8, 2024. The company is a developer of a drug discovery platform designed to combine artificial intelligence, molecular modeling and functional content screening.

THE Chem Lab / RESA Power: The company was acquired by RESA Power, via its financial sponsors MetLife and Investcorp, through an LBO on July 17, 2024 for an undisclosed amount. The company is a provider of power transformer fluid diagnostic and analysis services designed to support electrical system maintenance programs.

Vizzia Technologies / HID Global: The company was acquired by HID Global, a subsidiary of Assa Abloy, for an undisclosed amount on July 9, 2024. The company is a developer of a real-time location system (RTLS) and advanced process improvement platform for healthcare organizations to reduce costs, and streamline processes.