Healthcare Private Placement and M&A Transactions Review Week Ending March 5 2023

Cargo Therapeutics: The company raised $200 million of Series A1 venture funding in a deal led by Third Rock Ventures, Xontogeny, and RTW Investments on March 1, 2023, putting the company’s pre-money valuation at $115 million. NexTech, Ally Bridge Group, Red Tree Venture Capital, Samsara BioCapital, Piper Heartland, Emerson Collective, Janus Henderson Investors, T. Rowe Price, Wellington Management, Piper Sandler, and Cormorant Asset Management also participated in the round. The company is a developer of chimeric antigen receptor (CAR) T-cell therapies designed to overcome resistance to cancer treatment and address barriers to access so that more patients may benefit from potentially curative therapies.

Chroma Medicine: The company raised $135 million of Series B venture funding in a deal led by GV on March 1, 2023, putting the company’s pre-money valuation at $320 million. Omega Funds, Sixth Street Partners, Sofinnova Partners, ARCH Venture Partners, DCVC, Mubadala Capital-Ventures, Osage University Partners, Newpath Partners, Atlas Venture, Cormorant Asset Management, Casdin Capital, Janus Capital Management, Alexandria Real Estate Equities, T. Rowe Price and Wellington Management also participated in the round. The company is a developer of genomic medicines for the treatment of genetically driven diseases.

CodaMetrix: The company raised $54.4 million in Series A venture funding in a deal led by SignalFire on February 27, 2023, putting the company’s pre-money valuation at $60 million. Yale School of Medicine, Mass General Brigham, Martin Ventures, Frist Cressey Ventures, and University of Colorado Health also participated in the round. The company is a developer of an AI-powered platform designed to facilitate healthcare revenue cycle management and medical coding.

ChromaCode: The company raised $38.0 million in Series D venture funding from Vensana Capital, Adjuvant Capital and other undisclosed investors on February 27, 2023, putting the company’s pre-money valuation at $120 million. The company is a developer of a molecular diagnostics technology intended to redefine molecular testing through data science.

Santa Ana Bio: The company raised $35.3 million of Series A venture funding from undisclosed investors on February 28, 2023. The company is a biotechnology business that is developing precision immunology for autoimmune diseases.

Cadence Neuroscience: The company raised $26.0 million of venture funding from undisclosed investors on February 28, 2023, putting the company’s pre-money valuation at $35 million. The company is a developer of an implantable therapy device designed to improve treatment methods for people suffering from neurological disorders like epilepsy.

Pathos: The company raised $20 million of venture funding from undisclosed investors on March 2, 2023. The company is a developer of an AI-enabled drug discovery platform intended to reduce the duration of the medication development process.

Venatorx Pharmaceuticals: The company raised $15 million of venture funding in the form of convertible debt from undisclosed investors on February 27, 2023. The company is a developer of antibacterial and antiviral drugs designed to treat multi-drug-resistant bacterial infections.

Tachyon: The company raised $11.6 million of venture funding from Khosla Ventures, Red Tree Venture Capital and Veblen Ventures on March 1, 2023. The company is a research and development focused biotechnology business developing therapeutics against significant new drug targets in cancer biology.

WaveGuide: The company raised $8.3 million of venture funding from undisclosed investors on March 3, 2023. The company is a developer of a nuclear magnetic resonance device designed to provide an analytical method for chemical analysis.

VisionHealth: The company raised EUR 3 million of venture funding in a deal led by DB Specialty Invest on February 27, 2023. The company is a developer of a digital healthcare assistant application designed to control respiratory diseases in everyday life.

Antiverse: The company raised $3 million of venture funding from Innospark Ventures, AngelHub, and Kadmos Capital on March 1, 2023. Tomorrow Scale, Tensor Ventures, Development Bank of Wales, Deep Science Ventures, and Edward Parkinson also participated in the round. The company is an operator of a drug discovery platform intended to predict antibody-antigen binding and provide antibody drug candidates.

Albireo / Ipsen Group: The company was acquired by Ipsen Group for $952 million on March 2, 2023. Albireo Pharma Inc is a commercial-stage biopharmaceutical company.

Oculis / European Biotech Acquisition: The company acquired European Biotech Acquisition through a reverse merger, resulting in the combined entity trading on the NASDAQ Stock Exchange under the ticker symbol OCS on March 3, 2023. The company is a developer of novel and transformative topical treatments intended to offer treatment for ophthalmic diseases for both the back and front of the eye.

Crosscope / Clarapath: The company was acquired by Clarapath for an undisclosed amount on February 28, 2023. The company is a developer of a digital pathology imaging platform designed for medical image information extraction and diagnostics for precision medicine.

Logex Group / Thoma Bravo: The company was acquired by Thoma Bravo through an LBO on March 1, 2023 for an undisclosed amount. The company is a provider of advanced data analytics intended to help medical professionals in improving healthcare.

Siilo / Doctolib: The company was acquired by Doctolib for an undisclosed amount on March 2, 2023. The company is a developer of a medical messaging application designed to improve patient care through collaboration.