Healthcare Private Placement and M&A Transactions Review Week Ending July 23, 2023

Cardurion Pharma: The company raised $300 million through  Series A venture funding from Takeda Pharmaceutical Company, Bain Capital Life Sciences and Bain Capital on July 12, 2023, putting the company’s pre-money valuation at $210 million. Polaris Partners also participated in the round. The company is a developer of cardiovascular therapeutics intended to treat cardiovascular diseases.

Ellipses Pharma: The company raised GBP 109 million of venture funding from West Coast Capital, Mohamed bin Zayed and Steve Morgan on July 11, 2023, putting the company’s pre-money valuation at GBP 86.3 million. The company is a developer of cancer medicines and treatments designed for unmet clinical needs.

MapLight: The company raised $50 million of venture funding from undisclosed investors on July 19, 2023. The company is an operator of a biopharmaceutical business intended to discover novel treatments for brain disorders.

Venatorx Pharmaceuticals: The company raised $35 million of venture funding from undisclosed investors on July 13, 2023. The company is a developer of antibacterial and antiviral drugs designed to treat multi-drug-resistant bacterial infections.

OrganOx: The company received GBP 25 million of development capital from Lauxera Capital Partners and other investors on July 17, 2023. The company is a developer of organ preservation and transplantation devices designed to minimize liver decay.

Allotex: The company raised $30 million of Series B venture funding in a deal led by KCK MedTech on July 11, 2023. Exor, Panakes Partners and Supernova Invest also participated in the round. The company is an operator of an ophthalmic biologics and device business intended for the treatment of presbyopia, hyperopia and myopia.

VenoStent: The company raised $16.1 million in Series A venture funding from Good Growth Capital on July 19, 2023, putting the company’s pre-money valuation at $30 million. The company is a developer of a biomedical engineering technology designed to improve the quality and length of life for dialysis patients.

Actimed Therapeutics: The company closed on GBP 10 million of an undisclosed targeted amount of Series B venture funding on July 13, 2023. The company is an operator of a biopharmaceutical platform intended to advance the treatment of cachexia and other muscle-wasting disorders.

CoapTech: The company raised $12.3 million of venture funding from Good Growth Capital on July 11, 2023. The company is a developer of invasive surgical devices designed to offer point-of-care ultrasound procedures in hollow organs.

EIP Pharma: The company raised $11.9 million of venture funding from undisclosed investors on July 20, 2023. The company is a developer of central nervous system-focused drugs designed to offer treatment for Alzheimer’s disease.

EchoNous: The company received $7 million of development capital from undisclosed investors on July 11, 2023. The company is a developer of AI-guided ultrasound systems and software intended to solve problems in healthcare.

AssayQuant: The company raised $5.1 million convertible debt funding from undisclosed investors on July 10, 2023. The company is a developer of a Sox-based sensor platform designed to quantitatively measure the activity of protein kinases and phosphatases.

NFlection Therapeutics: The company raised $4 million of venture funding from undisclosed investors on July 20, 2023. The company is a developer of novel therapies designed to cure rare disorders driven by aberrant activation of the RAS pathway.

Kyra Medical: The company raised $4 million of venture funding from undisclosed investors on July 14, 2023. The company is a developer of medical devices intended for surgical positioning for gynecology, laparoscopy, and urology procedures.

Somatix: The company raised $3 million of venture funding in the form of convertible debt from undisclosed investors on July 11, 2023. The company is a developer of a remote patient monitoring platform designed for real-time health intervention.

Polyplus-transfection / Sartorius: Polyplus-transfection was acquired by Sartorius for EUR 2.4 billion on July 18, 2023. The company is a developer of gene and cell therapy technologies for the delivery of nucleic acids in research, bio-production and therapeutics.

DTx Pharma / Novartis: DTx Pharma was acquired by Novartis for $1 billion on July 17, 2023. The company is a developer of RNA-based therapeutics designed to aid in personalized treatment across multiple therapeutic areas.

Carmell Therapeutics / Alpha Healthcare Acquisition Corp III: Carmell Therapeutics acquired Alpha Healthcare Acquisition Corp III through a reverse merger for $328 million, resulting in the combined entity trading on the NASDAQ stock exchange under the ticker symbols CTCX and CTCXW on July 14, 2023. Carmell Therapeutics Corp is a regenerative medicine biotech company focused on leveraging its core platform technology, Plasma-based Bioactive Material, to stimulate tissue repair or growth after injury, disease or aging.

Neoleukin Therapeutics / Neurogene: Neoleukin Therapeutics reached a definitive agreement to be acquired by Neurogene through a reverse merger, resulting in the combined entity trading on the Nasdaq Capital Market under the ticker symbol NGNE on July 20, 2023. Neoleukin Therapeutics Inc is a developer of genetic medicines intended to improve patient outcomes for neurological disorders.

Novan / Ligand Pharmaceuticals: Novan reached a definitive agreement to be acquired by Ligand Pharmaceuticals for $15 million on July 17, 2023. Novan Inc is a dermatology company focused on developing and commercializing therapeutic products for skin diseases.

Spindle Biotech / Applied DNA Sciences: Spindle Biotech was acquired by Applied DNA Sciences for $2.2 million on July 13, 2023. Spindle Biotech is a developer of synthetic RNA intended for high throughput RNP-based CRISPR or RNA screening.

Frequency Therapeutics / Korro Bio: Frequency Therapeutics Inc reached a definitive agreement to be acquired by Korro Bio through a reverse merger, resulting in the combined entity trading on the Nasdaq Stock Exchange under the ticker symbol KRRO on July 14, 2023. Frequency Therapeutics Inc is a clinical-stage biotechnology company focused on harnessing the body’s innate biology to repair or reverse damage caused by degenerative diseases.

Liminal Biosciences / Thomvest Ventures: Liminal Biosciences Inc entered into a definitive agreement to be acquired by Thomvest Ventures through a public-to-private LBO on July 12, 2023 for an undisclosed amount. Liminal Biosciences Inc is a clinical stage biopharmaceutical company focused on developing distinctive novel small molecule therapeutics for inflammatory, fibrotic, and metabolic diseases.

Pardes Biosciences / MediPacific: Pardes Biosciences reached a definitive agreement to be acquired by MediPacific for an undisclosed amount on July 17, 2023. Pardes Biosciences Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing novel oral-antiviral therapeutics to improve the lives of patients suffering from life-threatening disease.

Sanofi / STADA Arzneimittel: STADA Arzneimittel, via its financial sponsors Cinven, Bain Capital and CPP Investments, entered into a definitive agreement to acquire the healthcare brands portfolio of Sanofi, through an LBO on July 12, 2023 for an undisclosed amount. Sanofi is an operator of consumer healthcare brands across several countries, including Belgium, Germany, Hungary, Spain and the UK, as well as Nordic countries.