Strategy | Financing Highlight

Private Placement / Financing Transactions

Diabeloop: The company raised EUR 70 million of Series C venture funding in a deal led by LBO France on June 2, 2022, putting the company’s pre-money valuation at an estimated EUR 253.34 million. The company is a developer of a therapeutic device designed to improve treatment for diabetes.

Endpoint Health: The company raised $52 million through the combination of debt and Series A venture funding from Alix Ventures, Yaya Capital, and Raptor Group on June 02, 2022. Vox Capital, Boom Capital Ventures, The Venture Collective, HCX Ventures, Mayfield, AME Cloud Ventures, Wireframe Ventures, Humboldt Fund, Kevin Moore, Milad Alucozai, and Global Health Investment Fund also participated in the round. The company is an operator of a therapeutics company intended to deliver precision therapies and improve outcomes for patients with immune-driven illnesses.

Hint Health: The company raised $44 million of Series B venture funding in a deal led by Banneker Partners and Frist Cressey Ventures on May 31, 2022, putting the company’s pre-money valuation at $55 million. Stefan Weiss, Jonathan Pines and other undisclosed investors also participated in the round. The company is a developer of a direct primary care technology intended to provide an improved healthcare experience.

NuProbe: The company raised $42.2 million of venture funding from undisclosed investors on May 31, 2022. The company is a developer of precision diagnostic technology designed to offer early detection of cancer and infectious diseases.

Sapience Therapeutics: The company raised $41 million of Series B venture funding in a deal led by NexPoint on May 31, 2022, putting the company’s pre-money valuation at $255 million. The company is a devleoper of peptide-based therapeutics designed for cancer treatment.

Watchmaker Genomics: The company raised $40 million of Series A venture funding in a deal led by Decheng Capital on June 2, 2022. Eclipse Ventures also participated in the round. The company is an operator of a biotechnology company intended to enable breakthrough applications for reading, writing, and editing DNA.

Moxe: The company raised $30 million of Series B venture funding in a deal led by Vensana Capital and Piper Sandler on June 1, 2022, putting the company’s pre-money valuation at $83 million. Other undisclosed investors also participated in the round. The company is a developer of a clinical data integration platform designed to streamline the exchange of clinical data between health plans and provider systems.

LatchBio: The company raised $28 million of Series A venture funding in a deal co-led by Coatue Management undefined Lux Capital on June 2, 2022. Fifty Years, Hummingbird Ventures, Caffeinated Capital, and Haystack Ventures also participated in the round. The company is an operator of a bioinformatics platform intended for cell and gene therapy startups.

Relation Therapeutics: The company raised $16 million of venture funding in the form of Convertible Debt from undisclosed investors on May 31, 2022. The company is an operator of a biotech business intended to provide biomarker intelligence services to accelerate the realization of precision medicines.

Vesta Healthcare: The company raised $15.13 million of venture funding in the form of Convertible Promissory Notes from undisclosed investors on June 1, 2022. The company is a provider of a caregiver platform intended to improve health outcomes for seniors.

Massive Bio: The company raised $9 million of Series B venture funding in a deal led by Revo Capital and Kenan Turnacioglu on June 2, 2022. DEG also participated in the round. The company is a developer of an artificial intelligence-driven platform intended to connect cancer patients to biopharmaceutical clinical trials.

TriVirum: The company raised $4.1 million of venture funding from undisclosed investors on June 3, 2022. The company is an operator of a medical device business intended to develop cost-effective, medical quality sensors.

Enrich Therapeutics: The company raised $3.8 million of venture funding from undisclosed investors on June 3, 2022. The company is a developer of a novel single-cell isolation technology designed to enhance biomedical research at a single-cell level.

Harmonic Bionics: The company raised $3 million of venture funding from Curexo on May 30, 2022. The company is a developer of robotic rehabilitation devices designed to facilitate data-driven treatment for neurological and musculoskeletal movement impairments.

altris: The company raised an undisclosed amount of venture funding from Joint Journey Intelligent Investments and Brinc in approximately June 2022. The company is a developer of an AI-powered SaaS ophthalmology software platform designed to improve the diagnostic process in ophthalmology.

Forcyte Biotechnologies: The company raised an undisclosed amount of venture funding from Acequia Capital, Milestone View undefined Pioneer Fund on June 1, 2022. Y Combinator and Jude Gomila also participated in the round. The company is an operator of a biotechnology business intended for the discovery of small molecule drugs that control mechanical force generation in individual human cells.


M&A Transactions

Turning Point Therapeutics / Bristol-Myers Squibb: The company reached a definitive agreement to be acquired by Bristol-Myers Squibb for $4.1 billion on June 3, 2022. Turning Point Therapeutics Inc is a clinical-stage biopharmaceutical company involved in designing and developing molecule targeted oncology therapies to address limitations of existing therapies.

Affinivax / GlaxoSmithKline: The company is in talks to be acquired by GlaxoSmithKline for $3.3 million on May 31, 2022. The company is an operator of a vaccine development company intended to enhance the depth and breadth of protection against challenging infectious diseases.

Youtheory / Jamieson Vitamins: The company reached a definitive agreement to be acquired by Jamieson Vitamins for $210 million on June 1, 2022. The company is a manufacturer of health and wellness supplement products.

Checkmate Pharmaceuticals / Regeneron Pharmaceuticals: The company was acquired by Regeneron Pharmaceuticals for $194 million on May 31, 2022. Checkmate Pharmaceuticals Inc is a clinical-stage biotechnology company focused on developing and commercializing its proprietary technology to harness the power of the immune system to combat cancer.

Steward Health Care / CareMax: CareMax entered into a definitive agreement to acquire the Medicare value-based care business of Steward Health Care for $135 million on June 1, 2022. The company is a provider of healthcare services intended for senior patients.

Bionova Scientific / Asahi Kasei Bioprocess America: The company was acquired by Asahi Kasei Bioprocess America for an undisclosed amount on June 1, 2022. The company is an operator of a contract development and manufacturing organization (CDMO) intended to provide biopharmaceutical process development services.

Cardio Diagnostics / Mana Capital Acquisition: The company reached a definitive agreement to acquire Mana Capital Acquisition through a reverse merger on May 31, 2022. The company is a developer of medical kits designed for early detection and prevention of heart disease.

Kinarus / Perfect Holding: Kinarus acquired Perfect Holding through a reverse merger, resulting into a combined entity trading on the SIX Swiss Exchange under the ticker symbol “KNRS” on June 3, 2022. The company is a developer of drugs and therapeutics intended to combat viral, respiratory, and ophthalmic diseases.

Monarch House / BDC Capital: The company was acquired by Venn Growth Partners and BDC Capital, a subsidiary of Business Development Bank of Canada, for an undisclosed amount on May 30, 2022. The company is an operator of interdisciplinary treatment centers intended for individuals with an autism spectrum disorder.

Nomadeec / Enovacom Groupe: The company reached a definitive agreement to be acquired by Enovacom Groupe, a subsidiary of Orange Business Services, for an undisclosed amount on May 30, 2022. The company is a developer of telemedicine platform designed to offer a single tool for teleconsultation, tele-expertise, and tele-triage.

Oryx Biomedical / Bened Biomed: The company was acquired by Bened Biomed for an undisclosed amount on June 1, 2022. The company is a developer of probiotics for improving physical health and mental wellness.

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