Healthcare Private Placement and M&A Transactions Review Week Ending July 28, 2024

Kestra Medical Technologies: The company received $196 million of development capital from Andera Partners, Ally Bridge Group, Longitude Capital, Omega Funds, Bain Capital, Endeavour Vision and other undisclosed investors on July 24, 2024. The company is a manufacturer of external and internal cardiac medical devices.

Third Arc Bio: The company raised $165 million of Series A venture funding in a deal led by Hillhouse Investment Group, Vida Ventures (Boston), and Cormorant Asset Management on July 23, 2024. AbbVie Ventures, Foresite Capital, Logos Capital, Freepoint Capital Group, Abrdn, Goldman Sachs Asset Management, BVF Partners, T. Rowe Price Group, Janus Henderson Investors, and Marshall Wace also participated in the round. The company is an operator of a biotech business intended to research multifunctional antibodies.

Colossal Laboratories & Biosciences: The company raised $162.6 million of Series B venture funding from Animoca Brands, Builders VC and MarketX on July 23, 2024. GG 1978, GoAhead Ventures, PROOF, Wave Digital Assets, Gaingels, Calm Ventures, Platform Capital Management, US Innovative Technology Fund, Fundomo, Shake and Bake, JAZZ Venture Partners, Breyer Capital, Animal Capital, At One Ventures, Bold Capital Venture, Climate Capital, Boost VC, PEAK6 Strategic Capital, In-Q-Tel, HOF Capital, WestRiver Group, Capital Factory, Robert Nelsen, Victor Vescovo, Amar Hussain, Laura Fingal-Surma, lee tachman, Corey Nobile, John Woyton, James Michaelis, Dana Sniezko, Thomas Tull and Elia Montanari also participated in the round. The company is an operator of a bioscience and genetic engineering company that uses gene editing technology to restore extinct species.

Imperative Care: The company raised $150 million through a combination in Series E venture funding in a deal led by Ally Bridge Group on July 25, 2024, putting the company’s pre-money valuation at $1.5 billion. Bain Capital Life Sciences, Intai Technology, AMED Ventures, Catalio Capital Management, Montreux Growth Partners, Pura Vida Investments, D1 Capital Partners, HealthCor Management, Innovatus Capital Partners and Rock Springs Capital also participated in the round. The company is a developer of stroke diagnosis, treatment, and rehabilitation technology.

Confo Therapeutics: The company raised EUR 60 million of Series B venture funding in a deal led by Ackermans & van Haaren on July 26, 2024. Driehaus Capital Management, PMV, Qbic Fund, Capricorn Partners, VIB, MINTS, V-Bio Ventures, BioGeneration Ventures, Wellington Partners, Fund+, Perceptive Advisors and Quest For Growth also participated in the round. The company is a developer of a drug discovery platform for single-domain antibodies.

CellCentric: The company raised $35 million of venture funding from RA Capital Management on July 24, 2024. The company is an operator of a clinical-stage cancer therapy biotechnology business intended to focus on novel drug development for specific cancers.

Q Bio: The company raised $27.1 million of venture funding from Kaiser Foundation Hospitals, TELUS Global Ventures and Andreessen Horowitz on July 26, 2024. Founders Fund, Khosla Ventures and Kevin Durant 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.

deepc: The company raised $25 million of Series A venture funding in a deal led by Bertelsmann Investments and Sofinnova Partners on July 25, 2024. Swiss Health Ventures, Winning Mindset Ventures and KHP Ventures also participated in the round. The company is a developer of an artificial intelligence radiology operating system.

Dren Bio: The company raised $25 million of venture funding from Novartis on July 24, 2024. The company is a developer of a biotechnology platform intended to develop protein-based technologies to deplete pathogenic cells and agents in numerous diseases.

Genedit: The company is in the process of raising $25 million of Series B venture funding in a deal led by DSC Investment on July 25, 2024. The company is a developer of curative gene therapies by systematically screening its proprietary nanoparticle library.

Valora Therapeutics: The company raised $13 million of venture funding from undisclosed investors on July 24, 2024. The company is a pre-clinical stage biopharmaceutical business based in San Diego, California.

RoosterBio: The company raised $12 million of venture funding through a combination of debt and equity from BroadOak Capital Partners and other undisclosed investors on July 25, 2024. The company is an operator of a cell manufacturing technology intended to accelerate the regenerative medicine industry.

Voom Medical Devices: The company raised $11.2 million of Series A venture funding from undisclosed investors on July 25, 2024. The company is a manufacturer of medical equipment intended for minimally invasive surgery for foot and ankle.

RetiSpec: The company raised $10 million of Series A venture funding in a deal led by iGan Partners on July 26, 2024. CABHI, OBI E-Commerce, Eli Lilly and Company, Topcon Healthcare Solutions, Gentex, University of Minnesota Discovery Capital, CRP Group, Verge HealthTech Fund, StartUp Health, Ontario Brain Institute and Regents of the University of Minnesota also participated in the round. The company is a developer of a non-invasive eye scanner designed for the early detection of Alzheimer’s disease.

Subtle Medical: The company raised $10 million of Series B venture funding from Samsung Venture Investment, BRV Capital Management and Ignite Innovation on July 25, 2024. Fusion Fund, EnvisionX Capital and BlueRun Ventures also participated in the round. The company is an operator of a healthcare technology developing vendor-neutral software solutions that improve image quality on regular and accelerated image protocols.

Neosoma: The company raised $6.2 million of venture funding from Filter Fund and other undisclosed investors on July 26, 2024. The company is a developer of an image analysis technology designed to provide routinely acquired magnetic resonance imaging sequences.

Lumicell: The company raised $5 million of venture funding from Kodiak Venture Partners, Claridge Venture Partners and other undisclosed investors on July 24, 2024. The company is a developer of oncology surgical devices.

RevealDX: The company raised $4.2 million of venture funding from undisclosed investors on July 23, 2024. The company is a developer of an advanced radiomics and AI enabled lung cancer decision support software.

Virgo: The company raised $3.75 million of venture funding from undisclosed investors on July 26, 2024. The company is a developer of a cloud-based software designed to accelerate results in clinical health trials.

Ultivue: The company raised $3.3 million of venture funding from undisclosed investors on July 25, 2024. The company is a developer and manufacturer of multiplex biomarker assays designed to help in tissue phenotyping and digital pathology.

Abiologics: The company raised an undisclosed amount of venture funding from Flagship Pioneering on July 23, 2024. The company is a developer of a a biotech business intended to develop a new class of biologics called Synteins.

PNQ Health: The company is in the process of raising an undisclosed amount of Series A venture funding on July 24, 2024. The company is an operator of healthcare business intended to provide tinnitus diagnostics and therapy solutions.

Spectrum Dynamics Medical: The company raised an undisclosed amount of venture funding in a deal led by Shanghai Biomedicine Fund on July 25, 2024. Jiaozi Venture Capital Partnership and Oriental Fortune Capital also participated in the round. The company is a developer of nuclear imaging technology designed for medical applications.

Rotech Healthcare / Owens & Minor: The company reached a definitive agreement to be acquired by Owens & Minor for $1.36 billion on July 23, 2024. The company is a supplier of respiratory and sleep apnea treatment products.

BioVectra / Agilent Technologies: The company reached a definitive agreement to be acquired by Agilent Technologies for $925 million on July 22, 2024. The company is a provider of contract development and manufacturing services for intermediates and active pharmaceutical ingredients.

Endomag / Hologic: The company was acquired by Hologic for $310 million on July 24, 2024. The company is a developer of a magnetic sensing technology designed to improve the global standard of cancer care.

Valinor Pharma / Grünenthal: The company was acquired by Grünenthal, via its financial sponsor NovaQuest Capital Management, through a $250 million LBO on July 22, 2024. The company is a manufacturer of Movantik.

MedLab Essentials / Logiq: The company reached a definitive agreement to be acquired by Logiq for an estimated $100 million on July 25, 2024. The company is a developer of cell and gene therapies for a variety of human diseases.

Digital Pharmacist / ExactCare Pharmacy: The company was acquired by ExactCare Pharmacy, via its financial sponsor Vistria Group, through an LBO on July 22, 2024 for an undisclosed amount. The company is a developer of a SaaS-based digital medication encyclopedia.

Endotronix / Edwards Lifesciences: The company was acquired by Edwards Lifesciences as a part of a $1.2 billion acquisition on July 24, 2024. The company is a developer of proactive heart management tools designed to detect cardiac failure.

JenaValve Technology / Edwards Lifesciences: The company reached a definitive agreement to be acquired by Edwards Lifesciences as a part of a $1.2 billion acquisition on July 24, 2024. The company is a developer and manufacturer of transcatheter aortic valve replacement (TAVR) systems intended for patients suffering from structural heart conditions.

Hepion Pharmaceuticals / Pharma Two B: The company reached a definitive agreement to be acquired by Pharma Two B through a reverse merger, resulting in the combined entity trading on Nasdaq under the ticker symbol “PHTB” on July 22, 2024. Hepion Pharmaceuticals Inc is a biopharmaceutical company that focuses primarily on the development of drug therapy for the treatment of chronic liver diseases.

LogicStream Health / QuVa Pharma: The company was acquired by QuVa Pharma, via its financial sponsors Bain Capital and Ergo Partners, through an LBO on July 25, 2024 for an undisclosed amount. The company is a developer of an electronic health record (EHR) analytics software designed for clinical process improvement and control.

Pieris Pharmaceuticals / Palvella Therapeutics: The company reached a definitive agreement to be acquired by Palvella Therapeutics through a reverse merger resulting in the combined company trading on the Nasdaq Capital Market on July 24, 2024. Pieris Pharmaceuticals Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of the Anticalin class of biotherapeutics.

Scienture / TRxADE Health: The company acquired TRxADE Health through a reverse merger, resulting in the combined entity trading on the Nasdaq Capital Market under the ticker symbol MEDS on July 25, 2024. The company is an operator of a pharmaceutical research business intended to focus on drug screening.