Healthcare Private Placement and M&A Transactions Review Week Ending July 6, 2025

Kardium: The company raised $250 million of venture funding in a deal led by MMCAP International, Eckuity, and Eventide Asset Management on July 2, 2025. Janus Henderson Investors, Qatar Investment Authority, Piper Sandler, and other undisclosed investors also participated in the round. The company is a developer of medical devices designed to help in the diagnosis and treatment of atrial fibrillation.

Portal Biotech: The company raised $35 million of Series A venture funding in a deal led by NATO Innovation Fund and Earlybird Venture Capital on June 30, 2025. We Venture Capital, Wilson Sonsini, Amino Collective, Outsized Ventures, 8VC, Pillar VC, SCVC and British Business Bank also participated in the round. The company is a biotechnology business that is developing the world’s first full-length single-molecule protein sequencer.

BrainEver: The company raised $33 million of Series B venture funding from European Innovation Council, iBionext and Relyens on July 3, 2025. The company is an operator of a medical research agency intended to develop drugs for the treatment of neurodegenerative disorders.

Syntis Bio: The company raised $33 million of Series A venture funding in a deal led by Cerberus Capital Management on July 1, 2025, putting the company’s pre-money valuation at $34 million. Colorcon, Cerity Partners Ventures, W.R. Berkley, Mansueto Investments, Apollo Research Labs, Woori Venture Partners, Portal Innovations, Safar Partners and BOLD Capital Partners also participated in the round. The company is a developer of late-stage preclinical drugs designed for oral therapy for obesity, diabetes, and rare diseases.

Imagene: The company raised $23 million of Series B venture funding in a deal led by Lawrence Ellison on July 1, 2025. Aguras Pathology Investments also participated in the round. The company is a developer of AI-based oncology diagnostics software designed for accelerating biomarker detection and supporting precision cancer treatment.

Healthcare Foundry: The company raised $21.2 million of venture funding from undisclosed investors on July 1, 2025, putting the company’s pre-money valuation at $46.8 million. The company is an operator of a platform to launch built-for-purpose, technology-enabled healthcare organizations designed to address systemic inefficiencies and inequities in patient care.

Maui Imaging: The company raised $14.7 million of venture funding from undisclosed investors on July 3, 2025. The company is a manufacturer of ultrasonic imaging devices intended to offer 3D imaging for diagnosis and treatment.

Relentless Health: The company raised $14.2 million of venture funding from undisclosed investors on June 30, 2025. The company is an operator of an artificial intelligence health data platform intended to facilitate early disease prevention for effective treatment.

Senseye: The company raised $12.2 million of Series A venture funding from What If Ventures, Hack VC and XB Ventures on July 3, 2025. 4D Capital and Capital Factory also participated in the round. The company is a developer of an AI-driven Software as a Medical Device (SaMD) for objective mental health diagnosis and monitoring.

Rune Labs: The company raised $11.2 million of Series B venture funding from undisclosed investors on June 30, 2025, putting the company’s pre-money valuation at $13.5 million. The company is a developer of a medical platform designed to integrate with neuromodulation therapies to manage data ingestion, labelling, and availability.

General Oncology: The company raised $10.8 million of venture funding from undisclosed investors on July 2, 2025. The company is a developer of a pipeline of treatments designed for solid metastatic cancers and cancers of the blood.

MediShout: The company raised $9 million of Series A venture funding in a deal led by Heal Capital on July 1, 2025. Nickleby Capital, Meridian Health Ventures and other undisclosed investors also participated in the round. The company is a developer of a cloud-based healthcare technology platform designed to solve problems that arise due to inefficiencies in the hospital environment.

Azra AI: The company raised $8 million of Series A venture funding from undisclosed investors on July 3, 2025, putting the company’s pre-money valuation at $186 million. The company is a developer of an artificial intelligence workflow automation platform designed to identify and triage oncology patients who need treatment and follow-up care.

Emit Imaging: The company raised $7.1 million of venture funding from undisclosed investors on July 2, 2025. The company is a developer of an imaging technology designed to monitor drug distribution and protein expression.

Adiposs: The company raised CHF 4 million of Series A venture funding from undisclosed investors on July 1, 2025. The company is a developer of medical imaging products and technologies designed for the early detection of cachexia.

Modulight Biotherapeutics: The company raised an undisclosed amount of venture funding from Nexus NeuroTech Ventures in July 2025. The company is an operator of an optogenetics-based platform intended to treat neuronal over-activation disorders in patients.

Moonrise Medical: The company raised an undisclosed amount of venture funding from Providence Health Care Ventures in July 2025. The company is a developer of an artificial intelligence-enabled ultrasound technology.

One Biosciences: The company raised an undisclosed amount of venture funding from Kima Ventures in July 2025. The company is a developer of AI-powered single-cell diagnostic technology designed to integrate functional tumor profiling into clinical practice.

TETmedical: The company raised an undisclosed amount of venture funding from Bantam Group in July 2025. The company is a developer of tethered enzyme technology intended to develop a multiplex assay for diagnosis of SARS-CoV-2, influenza, RSV, and adenovirus.

WurQ: The company raised an undisclosed amount of venture funding from Bantam Group in July, 2025. The company is a provider of a wearable system for athletes to track and provide feedback on muscular and cardiovascular performance.

Hologen AI: The company raised an undisclosed amount of venture funding from 2468 Ventures in July 2025. The company is a developer of multi-modal generative AI models designed to improve the understanding, design, evaluation, and delivery of treatments for neurological and other complex health conditions.

XMed: The company raised an undisclosed amount of venture funding from The Fresnel Companies in July 2025. The company provides home medical equipment (HME), respiratory and sleep therapy, and post-mastectomy care through licensed and trained healthcare professionals.

SpringWorks Therapeutics / Merck: The company was acquired by Merck for $3.9 billion on July 1, 2025. SpringWorks Therapeutics Inc is a clinical-stage biopharmaceutical company applying a precision medicine approach to acquiring, developing, and commercializing life-changing medicines for underserved patient populations suffering from devastating rare diseases and cancer.

Capstan Therapeutics / AbbVie: The company reached a definitive agreement to be acquired by AbbVie for $2.1 billion on June 30, 2025. The company is an operator of a biotechnology business intended to expand the therapeutic potential of in vivo RNA-based therapies through proprietary targeted delivery systems.

Inozyme Pharma / BioMarin Pharmaceutical: The company was acquired by BioMarin Pharmaceutical for approximately $270 million on July 1, 2025. Inozyme Pharma Inc is a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of diseases impacting bone health and blood vessel function.

MatTek / Sartorius: The company, a subsidiary of BICO Group, was acquired by Sartorius for $80 million on July 1, 2025. The company is a producer of human organotypic 3-dimensional skin, corneal, respiratory, oral, mucosal, and intestinal tissues for cosmetic, household products, personal care, chemical, and pharmaceutical companies.

UTILITY Therapeutics / Alembic Pharmaceuticals USA: The company was acquired by Alembic Pharmaceuticals USA for $12 million on July 3, 2025. The company is a developer of antibiotics and therapies intended to treat multi-drug resistant bacterial infections.

Euroapi UK / Particle Dynamics: The company, a subsidiary of Euroapi, has entered into a definitive agreement to be acquired by Particle Dynamics, via its financial sponsors Research Corporation Technologies, BroadOak Capital Partners and Farragut Capital Partners, through an LBO on June 30, 2025 for an undisclosed amount. The company is an operator of a pharmaceutical manufacturing facility located in Haverhill, United Kingdom.

Grace Medical / Innovia Medical: The company was acquired by Innovia Medical, via its financial sponsors Balance Point Capital and Inverness Graham, through an LBO on July 2, 2025 for an undisclosed amount. The company is a manufacturer of medical devices intended to serve ear, nose, and throat treatments.

Hurricane Medical / Innovia Medical: The company was acquired by Innovia Medical, via its financial sponsors Balance Point Capital and Inverness Graham, through an LBO on July 2, 2025 for an undisclosed amount. The company is a manufacturer of single-use ophthalmic surgical instruments intended for use in eye surgeries.

IGM Biosciences / Concentra Biosciences: The company reached a definitive agreement to be acquired by Concentra Biosciences for an undisclosed amount on July 1, 2025. IGM Biosciences Inc is a biotechnology company engaged in the development of IgM antibody therapeutics for the treatment of cancer, infectious diseases, and autoimmune and inflammatory diseases.

IllumiCare / Premier: The company was acquired by Premier for an undisclosed amount on June 30, 2025. The company is a developer of a real-time patient information application designed to offer predictive health analytics.

ImmersiveTouch / HealthpointCapital: The company was acquired by HealthpointCapital through an LBO on June 30, 2025 for an undisclosed amount. The company is a developer of a vendor-neutral enterprise-scale virtual reality surgery platform designed to deliver actionable insights to make surgery smarter and safer.

Kineta / TuHURA Biosciences: The company was acquired by TuHURA Biosciences for an undisclosed amount on June 30, 2025. Kineta Inc is a clinical-stage biotechnology company focused on developing immunotherapies to address cancer immune resistance.

Serva Electrophoresis / LICORbio: The company, a subsidiary of Unigene, was acquired by LICORbio, a subsidiary of LI-COR, for an undisclosed amount on July 1, 2025. The company is an operator of a life sciences business specializing in electrophoresis, with a focus on reagents, consumables, and workflow instrumentation.