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

Mediar Therapeutics: The company raised $85 million of Series A venture funding in a deal led by Novartis Venture Fund and Sofinnova Partners on March 15, 2023, putting the company’s pre-money valuation at $38 million. Pfizer Ventures, Ono Venture Investment, Bristol-Myers Squibb, Eli Lilly, Gimv, Mission BioCapital, Mass General Brigham Ventures and Pureos Bioventures also participated in the round. The company is a developer of antibody-based therapeutics intended to provide a new approach to treating fibrosis.

Switch Therapeutics: The company raised $52 million of Series A venture funding in a deal led by UCB Ventures and Insight Partners on March 14, 2023. Ono Venture Investment, Eli Lilly and Company Foundation, Upfront Ventures, Wilson Hill Ventures, Bold Capital Partners, Digitalis Ventures, Dolby Family Ventures, Global Brain, FreeFlow, PhiFund Ventures, and other undisclosed investors also participated in the round. The company is an operator of a biotechnology business focused on RNAi therapies.

Synaptive: The company raised $50 million of venture funding in a deal led by Export Development Canada on March 13, 2023. Other undisclosed investors also participated in the round. The company is an operator of a global medical technology company intended to solve surgical, imaging, and data challenges to improve the quality of human lives.

Zus Health: The company raised $40 million of venture funding from Andreessen Horowitz, F-Prime Capital, and Maverick Ventures on March 16, 2023. JAZZ Venture Partners and other undisclosed investors also participated in the round. The company is a developer of a healthcare data platform intended to accelerate digital health.

AlgoTherapeutix: The company raised EUR 20 million of Series B venture funding in a deal led by Relyens on March 14, 2023. Omnes Capital, UI Investissement, Bpifrance and other undisclosed investors also participated in the round. The company is an operator of a biotechnology business designed to develop topical treatments for complex pain.

Paige: The company raised $20 million of venture funding from undisclosed investors on March 16, 2023. The company is a developer of a computational pathology module platform designed for rapid diagnostic stratification and cancer detection.

Fount: The company raised $12 million through a combination of debt and Series A venture funding in a deal led by Amity Ventures on March 14, 2023, putting the company’s pre-money valuation at $32 million. Champion Hill Ventures, Elysian Park Ventures, Not Boring, and Allen & Company also participated in the round. The company is a provider of performance enhancement programs intended to aid people to enhance their recovery after intense physical or mental activity.

Orion Biotechnology: The company raised $9.9 million of venture funding from WaterStar Capital and other undisclosed investors on March 15, 2023. The company is a developer of precision-engineered GPCR-targeted therapeutics designed for the treatment of cancer and other serious diseases.

Adze Biotechnology: The company raised $6.2 million of venture funding from undisclosed investors on March 14, 2023. The company is a developer of oncolytic immunotherapies designed to help in the treatment of cancers with significant unmet needs.

Nanospectra: The company raised $6.1 million of venture funding from undisclosed investors on March 15, 2023. The company is a developer of tissue ablation therapies designed to maximize treatment efficacy while minimizing side effects.

Seagen / Pfizer: The company reached a definitive agreement to be acquired by Pfizer for $43 billion on March 13, 2023. Seagen (formerly known as Seattle Genetics) is a biotech firm that develops and commercializes therapies to treat cancers.

Provention Bio / Sanofi: The company reached a definitive agreement to be acquired by Sanofi for $2.9 billion as of March 13, 2023. The deal is expected to be completed by June 30, 2023. Provention Bio Inc is a clinical-stage biopharmaceutical company.

PerkinElmer / New Mountain Capital: The Perkin Elmer Applied, Food and Enterprise Services businesses, a carve-out from the Discovery & Analytical Solutions segment of PerkinElmer, was acquired by New Mountain Capital through a $2.45 billion LBO on March 13, 2023. The company is a provider of laboratory and field services catering to biopharma, food, environmental and safety, and applied end markets.

Supreme Optimization / Trinity Hunt Partners: The company was acquired by Trinity Hunt Partners through an LBO on March 14, 2023 for an undisclosed amount. The company is a provider of digital marketing services intended to help life science businesses communicate products and services to their customers through digital experiences.

Val Solutions / Extens: The company was acquired by Extens through an LBO on March 16, 2023 for an undisclosed amount. The company is a developer of a software application designed for occupational health and prevention of occupational risk at work.