Strategy | Financing Highlight

Private Placement / Financing Transactions

Centivo: The company raised $81 million of Series B1 venture funding in a deal led by Maverick Ventures and B Capital Group on July 18, 2022, putting the company’s pre-money valuation at $330 million. Morgan Health and 8 other investors also participated in the round. The company is a provider of self-funded health plans intended to bring more affordable, high-quality healthcare to Americans.

BigHat Biosciences: The company raised $75 million of Series B venture funding in a deal led by Section 32 on July 20, 2022. Amgen, Bristol-Myers Squibb, Quadrille Capital, Gaingels, GRIDS Capital, Andreessen Horowitz, 8VC, AME Cloud Ventures, and other undisclosed investors also participated in the round. The company is a developer of antibodies experimental platform designed to empower biological antibodies and other therapeutic proteins.

Cartography: The company raised $57 million of Series A venture funding in a deal led by 8VC on July 19, 2022, putting the company’s pre-money valuation at $80 million. Alexandria Venture Investments, The Institute of Cancer Research, Gaingels, AME Cloud Ventures, Catalio Capital Management, Andreessen Horowitz, Wing Venture Capital and ARTIS Ventures also participated in the round. The company is an operator of a biotech company intended to develop cancer therapies via precision medicine.

Auron Therapeutics: The company raised $48 million of Series A venture funding in a deal led by DCVC on July 20, 2022. Eli Lilly, Polaris Partners, Arkin Bio-Ventures, Qiming Venture Partners, Mubadala Capital-Ventures, Apollo Health Ventures, Franklin Berger, BrightEdge, and Casdin Capital also participated in the round. The company is an operator of a biotechnology company intended to research and develop products focusing on immunology and oncology medical fields.

Enterome: The company raised EUR 40 million of venture funding from Nestlé Health Science on July 19, 2022. The company is a developer of pharmaceuticals and diagnostics tests designed to provide treatment of metabolic and bowel diseases.

Kinaset Therapeutics: The company raised $28.5 million of venture funding from undisclosed investors on July 18, 2022. The company is a developer of respiratory drugs intended to develop novel therapeutics for patients affected by intractable diseases, including severe asthma.

Precise Bio: The company raised $15.5 million of Series B venture funding from Carl Zeiss Meditec and other undisclosed investors on July 18, 2022, putting the company’s pre-money valuation at $40 million. The company is a developer of a 3D printing and tissue-engineering platform designed to produce scalable, repeatable bio-fabricated organs from the patients’ own cells.

Retia Medical: The company raised $15 million of Series B venture funding in a deal led by Fresenius Medical Care Ventures on July 18, 2022. Red Cedar Ventures and Pritzker/Vlock Family Office also participated in the round. The company is a developer of medical devices intended for cardiovascular signal processing for patient monitoring.

Aria CV: The company raised $7.8 million of venture funding from Catalyst Health Ventures and Xeraya Capital on July 18, 2022. The company is a developer of implantable cardiovascular devices designed to treat pulmonary hypertension.

SpinTechMRI: The company raised $6.5 million of Series A venture funding in a deal co-led by Genesis Innovation Group and Level Eight Ventures on July 18, 2022. The company is a developer of imaging software designed for the diagnosis and treatment of brain trauma and neurological degenerative diseases.

Senzo: The company closed on $5 million of an undisclosed targeted amount of venture funding in a deal led by BioAdvance on July 21, 2022. Wellness Coaches and other undisclosed investors also participated in the round. The company is a developer of a diagnostic technology device designed to enable users to perform on-demand lab tests.

Owl: The company raised $4.66 million of venture funding from undisclosed investors on July 19, 2022. The company is a developer of a precision care management platform designed to improve clinical care, reduce costs and increase clinical efficiency.

CryoStasis: The company raised $4.5 million of venture funding from Ben Kaminski on July 19, 2022. The company is a provider of biological services intended to give life to research, healthcare, patients, and the world.

Ambient Clinical Analytics: The company announced it will raise $4 million of venture funding on July 20, 2022. The company is a developer of healthcare tools designed to reduce healthcare costs and improve patient outcomes.

RYNE Biotechnology: The company raised $3 million of venture funding in the form of SAFE notes from undisclosed investors on July 20, 2022. Subsequently, got converted into equity. The company is a developer of therapies intended to cure neurologic disease.

Foresight: The company raised Series C venture funding from undisclosed investors on July 20, 2022. The company is an operator of a mental health and wellness clinic intended to offer a wide range of treatments and healthcare services.


M&A Transactions

One Medical / Amazon.com: The company reached a definitive agreement to be acquired by Amazon.com for approximately $3.9 billion on July 21, 2022. 1Life Healthcare Inc is a membership-based and technology-powered primary care platform with seamless digital health and inviting in-office care, convenient to where people work, shop, live, and click.

ARS Pharmaceuticals / Silverback Therapeutics: The company acquired Silverback Therapeutics through a reverse merger for an estimated $265 million, resulting in the combined entity trading on the Nasdaq stock exchange under the ticker symbol $SPRY on July 21, 2022. The company is a developer of epinephrine intranasal sprays designed to revolutionize the treatment of severe allergic reactions.

Piedmont Animal Health / Dechra Pharmaceuticals: The company reached a definitive agreement to be acquired by Dechra Pharmaceuticals for $210 million on July 20, 2022. The company is a provider of pharmaceutical services intended to focus on parasitology and drug delivery systems for companion animal and human use.

Youtheory / Jamieson Vitamins: The company was acquired by Jamieson Vitamins for $210 million on July 19, 2022. The company is a manufacturer of health and wellness products intended to inspire wellness in all.

GeneTx / Ultragenyx Pharmaceutical: The company was acquired by Ultragenyx Pharmaceutical for $75 million on July 18, 2022. The company is a developer of antisense drugs designed for the treatment of rare genetic disorders.

Capillary Biomedical / Tandem Diabetes Care: The company was acquired by Tandem Diabetes Care for an undisclosed amount on July 21, 2022. The company is a developer a medical device designed to simplify insulin delivery and reduce the burden of diabetes on patients and the healthcare system.

One Healthcare Solution / Verustat: The company was acquired by Verustat for an undisclosed amount on July 21, 2022. The company is a developer of a chronic care software intended to allow physicians to provide more services to patients in their homes.

RenPro Renal Services / Dialyze Direct: The company was acquired by Dialyze Direct for an undisclosed amount on July 21, 2022. The company is an operator of dialysis company committed to providing renal care with dignity to those who need treatment.

RxData / Edra: The company was acquired by Edra, a subsidiary of LSWR, for an undisclosed amount on July 19, 2022. The company is a developer of an on-demand pharmaceutical database platform designed to provide reliable insights on life science commercialization.

Silverback Therapeutics / ARS Pharmaceuticals: The company reached a definitive agreement to be acquired by ARS Pharmaceuticals through a reverse merger, resulting in the combined entity trading on the Nasdaq stock exchange under the ticker symbol $SPRY on July 21, 2022. Silverback Therapeutics Inc is a clinical-stage biopharmaceutical company.

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