Healthcare Private Placement and M&A Transactions Review Week Ending March 17, 2024

Tubulis: The company raised EUR 128 million of Series B2 venture funding in a deal led by EQT Life Sciences and Nextech Invest on March 14, 2024. Evotec, Andera Partners, Deep Track Capital, Fund+, BioMedPartners, High-Tech Gründerfonds, Seventure Partners, Coparion, Bayern Kapital, Occident Group, Frazier Lifesciences Acquisition, and other undisclosed investors also participated in the round. The company is a developer of chemotherapeutic drugs that use uniquely matched protein-drug conjugates by combining novel technologies with disease-specific biology for cancer and chronic diseases.

Zephyr AI: The company raised $111.4 million of Series A venture funding from Eli Lilly, Revolution (Washington DC) and Jeffrey S. Skoll on March 13, 2024. EPIQ Capital Group and other undisclosed investors also participated in the round. The company is an operator of a healthcare technology business that uses algorithms to extract biological signals and actionable insights from real-world data for precision medicne applications.

Nocion Therapeutics: The company raised $62 million in Series B venture funding in a deal led by Arkin Bio Ventures and Monograph Capital on March 14, 2024, putting the company’s pre-money valuation at $32 million. Mission BioCapital, F-Prime Capital, Canaan Partners, Mass General Brigham Ventures and Osage University Partners also participated in the round. The company is a developer of a small molecule charged sodium channel designed to treat the conditions arising from neurogenic inflammation.

HiLabs: The company raised $39 million of Series B venture funding in a deal led by Eight Roads and Denali Growth Partners on March 14, 2024. F-Prime Capital also participated in the round. The company is a developer of a healthcare data mining platform designed to facilitate healthcare decision-making.

Mission Therapeutics: The company raised GBP 25.2 million of Series D venture funding in a deal led by Roche Venture Fund, Pfizer Ventures, and IP Group on March 14, 2024. Sofinnova Partners, SR One Capital Management, and Rosetta Capital also participated in the round. The company is an operator of a drug discovery and development business engaged in selectively targeting deubiquitylating enzymes (DUBs) with small molecule inhibitors to effectively treat patients with serious and life-threatening diseases

Pi Health: The company raised $30.8 million of Series A venture funding in a deal led by AlleyCorp and Obvious Ventures on March 14, 2024. The Invus Group and other undisclosed investors also participated in the round. The company is a developer of a global health technology platform designed for secure and compliant data collection during clinical trials.

Deep Origin: The company raised $25.5 million of venture funding from undisclosed investors on March 13, 2024. The company is a developer of biology research and development technology intended to accelerate basic science, drug development, and bioengineering.

Tempo Therapeutics: The company raised $16.3 million of venture funding from undisclosed investors on March 15, 2024. The company is an operator of a clinical-stage tissue engineering company for regenerative tissue treatments.

Siolta Therapeutics: The company raised $12 million of Series C venture funding in a deal led by Khosla Ventures and SymBiosis Capital Management on March 12, 2024, putting the company’s pre-money valuation at $30 million. Kirin Holdings Company, and 8 other investors also participated in the round. The company is an operator of a clinical-stage biotech business intended to develop biotherapeutic products to target the core drivers of disease.

Locate Bio: The company raised GBP 8.4 million of venture funding from Mercia Asset Management, and other undisclosed investors on March 14, 2024, putting the company’s pre-money valuation at GBP 25.6 million. The company is a developer of a regenerative medicine platform focused on drug delivery and tissue scaffold capabilities.

ONL Therapeutics: The company raised $10 million of venture funding from undisclosed investors on March 12, 2024. The company is an operator of a biopharmaceutical business intended to protect and improve the vision of patients with a range of retinal diseases and conditions.

Lytica Therapeutics: The company raised $4 million of venture funding in the form of convertible debt from undisclosed investors on March 11, 2024. The company is an operator of a biotechnology business intended to develop novel peptide conjugates for next-generation Antibody-Drug Conjugates (ADCs).

ThinkSono: The company raised GBP 2.1 million of venture funding in a deal led by Id4 Ventures on March 14, 2024. Dubai Angel Investors, Brandenburg Kapital, Cur8 Capital, Calm/Storm Ventures, Crowdcube and other undisclosed investors also participated in the round. The company is a developer of an automatic point-of-care diagnostic system for deep vein thrombosis.

Amolyt Pharma / AstraZeneca: The company reached a definitive agreement to be acquired by AstraZeneca for $1.05 billion on March 14, 2024. The company is an operator of a clinical-stage biotechnology business focused on the treatment of endocrine and metabolic disorders.

IFM Due / Novartis: The company was acquired by Novartis for $835 million on March 13, 2024. The company’s platform develops small-molecule, orally available drug candidates targeting aberrant inflammatory responses of the innate immune system triggered by the cGAS-STING pathway.

Harpoon Therapeutics / Merck & Co.: The company was acquired by Merck & Co. for $680 million on March 11, 2024. Harpoon Therapeutics Inc is a clinical-stage immunotherapy company engaged in developing a novel class of T cell engagers that harness the power of the body’s immune system to treat patients suffering from cancer and other diseases.

Peters Surgical / Advanced Medical Solutions Group: The company reached a definitive agreement to be acquired by Advanced Medical Solutions Group for $141.4 million on March 13, 2024. The company is a manufacturer and supplier of medical devices and instruments for surgical procedures.

Alcresta Therapeutics / Linden Capital Partners: The company was acquired by Linden Capital Partners through an LBO on March 12, 2024 for an undisclosed amount. The company is a developer of enzyme-based products designed to combat gastrointestinal disorders.

Aural Analytics / Linus Health: The company was acquired by Linus Health for an undisclosed amount on March 11, 2024. The company is a developer of a speech analytics platform designed to detect subtle, clinically interpretable information to identify health problems before symptoms appear through remote, frequent speech assessments.

Endpoint Clinical / Arsenal Capital Partners: The company entered into a definitive agreement to be acquired by Arsenal Capital Partners through an LBO on March 11, 2024 for an undisclosed amount. The company is a developer of interactive response technology platforms to access data through phones, web and mobile devices for the life sciences industry.

ImmunogenX / First Wave BioPharma: The company was acquired by First Wave BioPharma for an undisclosed amount on March 14, 2024. The company is a clinical-stage biopharmaceutical business specializing in the development of targeted, non-systemic therapies for gastrointestinal diseases.