Healthcare Private Placement and M&A Transactions Review Week Ending June 19, 2023

Elucida Oncology: The company raised $45.2 million of venture funding from undisclosed investors on June 15, 2023. Elucida Oncology is a developer of therapeutics designed to target cancer with precision engineering technology.

Theradaptive: The company raised $26 million of Series A venture funding from undisclosed investors on June 15, 2023. Theradaptive is a developer of a drug delivery and research platform

Feldan Therapeutics: The company raised $16.5 million of Series B venture funding from GC Biopharma, Amgen Ventures, and GC Cell on June 13, 2023. Investissement Québec and other undisclosed investors also participated in the round. Feldan Theraputics operates a biopharmaceutical company intended to specialize in the development of treatments based on the intracellular delivery of therapeutics.

RevMedica: The company raised $14 million of venture funding from undisclosed investors on June 14, 2023. The company manufactures surgical devices intended to enhance surgeon performance.  The company’s first product in development is a laparoscopic surgical stapler.

Adaptive Phage Therapeutics: The company raised $12 million of Series B venture funding from Deerfield Management, AMR Action Fund, and other undisclosed investors on June 13, 2023, setting the company’s pre-money valuation at $23 million.  Adaptive Phage Therapeutics operates a clinical-stage company intended to treat multi-drug resistant pathogenic bacteria.

Neuvivo: The company raised $11 million of venture funding in a deal led by PrimeStreet Consulting on June 15, 2023.  Neuvivo develops novel therapeutics designed for the treatment of amyotrophic lateral sclerosis and other neurodegenerative diseases.

Repair Biotechnologies: The company raised $8.4 million of venture funding from undisclosed investors on June 15, 2023. Repair Biotechnologies is an operator of a biotechnology company intended to focus on the reversal of age-associated thymic atrophy and consequent loss of immune function.

Dynamic42: The company raised an undisclosed amount of Series A venture funding from bm-t Beteiligungs management Thuringen on June 13, 2023.  Dynamic42 develops human organ-on-chip technology designed to obtain scientific data related to human physiology.

Iome Bio: The company is in the process of raising Series A venture funding on June 15, 2023.  Iome Bio is a developer of microbiome-based mechanisms intended to develop drugs for immuno-oncology.

Stemina Biomarker Discovery: The company raised an undisclosed amount of venture funding from Arenberg Holdings in June, 2023.  Stemina Biomarker Discovery is a developer of molecular biomarkers designed to perform diagnosis and treat neurological disorders, including autism spectrum disorders.

Prometheus Biosciences / Merck & Co.: Prometheus was acquired by Merck & Co. for $10.8 billion on June 18, 2023. Prometheus Biosciences Inc is a biotechnology company working on a precision medicine approach to the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of IBD.

Chinook Therapeutics / Novartis: Chinook Therapeutics reached a definitive agreement to be acquired by Novartis for $3.5 billion on June 12, 2023. Chinook Therapeutics Inc is a clinical-stage biotechnology company developing precision medicines for kidney diseases.

Surface Oncology / Coherus Biosciences: Surface Oncology reached a definitive agreement to be acquired by Coherus Biosciences for $65 million on June 16, 2023. Surface Oncology Inc is a clinical-stage immuno-oncology company.

PulseAI / Generative AI Solutions: PulseAI reached a definitive agreement to be acquired by Generative AI Solutions for an undisclosed amount on June 13, 2023.  PulseAI is an operator of a medical technology platform intended to detect arrhythmias efficiently and accurately.

SoftGenetics / Dotmatics: SoftGenetics was acquired by Dotmatics, via its financial sponsor Insight Partners, through an LBO on June 12, 2023 for an undisclosed amount. SoftGenetics is a developer of genetic analysis software designed for genetic researchers and diagnosticians.