Healthcare Private Placement and M&A Transactions Review Week Ending March 9, 2025

Callio Therapeutics: The company raised $187 million of Series A venture funding in a deal led by Frazier Healthcare Partners on March 3, 2025. Novo Holdings, Norwest Holdings, SEEDS Capital, EDBI, Jeito, Pureos Bioventures, Omega Funds, ClavystBio and Platanus also participated in the round. The company is a developer of multi-payload antibody-drug conjugates designed to maximize therapeutic benefit for cancer patients.

Impulse Dynamics: The company raised $84 million of venture funding from undisclosed investors on March 6, 2025. The company is a developer of a cardiac contractility modulation technology designed to treat chronic heart failure problems.

Aescape: The company raised $80.7 million of Series A venture funding in a deal led by Valor Equity Partners on March 4, 2025, putting the company’s pre-money valuation at $150 million. Alumni Ventures, Fifth Wall, Kevin Love, and other undisclosed investors also participated in the round. The company is a developer of AI powered robotics which provide automated massages.

4C Medical: The company raised $50 million of Series D venture funding in a deal led by Boston Scientific and other undisclosed investors on March 5, 2025. The company is a developer of a novel minimally invasive system designed for the treatment of mitral regurgitation.

Garuda Therapeutics: The company raised $50 million of Series A1 venture funding from Kyowa Kirin, OrbiMed, and Cormorant Asset Management on March 4, 2025. Northpond Ventures and other undisclosed investors also participated in the round. The company is an operator of a biotech business intended to treat patients with blood, bone marrow, immune, and metabolic diseases.

TrueMed: The company raised $32.7 million of venture funding from undisclosed investors on March 4, 2025. The company is a developer of a healthcare platform designed to enable consumers to use pre-tax HSA/FSA funds for proactive health and wellness purchases.

Freed: The company raised $30 million of Series A venture funding in a deal led by Sequoia Capital on March 5, 2025. Scale Venture Partners, Daniel Gross, Ted Zagat, and Gokul Rajaram also participated in the round. The company is a developer of a medical record application designed to assist clinicians with documentation.

Heidi Health: The company raised $16.6 million of Series A venture funding in a deal led by Jazz, Headline and Blackbird Ventures on March 3, 2025. Menlo Ventures , Saniel Ventures, Amboy Street Ventures, Local Globe, Possible Ventures, Archangel Ventures, Wormhole Capital, Hostplus Superannuation Fund, HESTA Industry Super Fund and B-FLEXION Capital Holdings also participated in the round. The company is a developer of an AI-powered scribe designed for clinicians to record patient visits, generate documents from simple prompts, and customize notes using templates.

Ataraxis: The company raised $20.4 million of Series A venture funding in a deal led by AIX Ventures on March 5, 2025, putting the company’s pre-money valuation at $48 million. Bertelsmann Investments, Obvious Ventures, Floating Point, Thiel Bio, Founders Fund, Mario Schlosser, Ryan Fukushima and Giant Ventures also participated in the round. The company is a developer of an AI precision medicine platform to improve cancer diagnostics and patient outcomes.

IdentifySensors: The company raised $20 million of venture funding from undisclosed investors on March 3, 2025. The company is a developer of a digital self-test device intended for disease diagnostics using graphene biosensors.

Nervonik: The company raised $13 million of Series A venture funding in a deal led by U.S. Venture Partners on March 4, 2025, putting the company’s pre-money valuation at $31 million. Foothill Ventures, Correlation Ventures and other undisclosed investors also participated in the round. The company is a developer of a medical technology designed for neuro-modulation to support therapeutic applications.

Osivax: The company raised EUR 10 million of Series B venture funding from Meiji Seika Pharma and other undisclosed investors on March 4, 2025. The company is a developer of a universal vaccine designed to prevent globally impactful infectious diseases.

XUND: The company raised EUR 6 million of venture funding in a deal led by Lead Ventures on March 5, 2025. MassMutual Ventures, J&T Ventures, Tba Network, and LANA Ventures also participated in the round. The company is a developer of API (active pharmaceutical ingredient) medical devices designed to digitize the patient journey from prevention to diagnosis.

Directed Systems: The company is in the process of raising $5 million of venture funding as of March 4, 2025, and plans to close the round by July 31, 2025. The company is a developer of a health technology business intended to develop advanced medical software to improve cardiovascular management in surgery and critical care.

CND Life Sciences: The company raised $3.5 million of venture funding from undisclosed investors on March 6, 2025. The company is a developer of a medical diagnostic platform designed to detect key pathological markers in the peripheral nervous system.

Nivien Therapeutics: The company raised an undisclosed amount of venture funding from Dorm Room Fund in March 2025. The company is a developer of small molecule drugs designed to enhance both chemotherapies and immunotherapies.

Walgreens Boots Alliance / Sycamore Partners Management: The company entered into a definitive agreement to be acquired by Sycamore Partners Management through an estimated $10 billion public-to-private LBO on March 7, 2025. Walgreens Boots Alliance is one of the largest retail pharmacy chains in the US and internationally, with over 8,000 locations.

Chimerix / Jazz Pharmaceuticals: The company reached a definitive agreement to be acquired by Jazz Pharmaceuticals for approximately $935 million on March 5, 2025. Chimerix Inc. is a biopharmaceutical company based in the United States that engages in the research, development, and commercialization of medicines that meaningfully improve and extend the lives of patients facing deadly diseases.

Instinct Brothers / Relativity Acquisition: The company reached a definitive agreement to acquire Relativity Acquisition through a reverse merger, resulting in the combined entity trading on the NASDAQ Stock Exchange under the ticker symbol BIOT on March 04, 2025. The company is a developer of regenerative medicine aimed at anti-aging, immune support, and disease prevention.

Distributed Bio / Fairjourney Biologics: The company, a subsidiary of Charles River Laboratories International, was acquired by Fairjourney Biologics, via its financial sponsor Partners Group, through an LBO on March 4, 2025 for an undisclosed amount. The company is a developer of antibody discovery tools intended to be used for life sciences research and drug discovery.

Modernizing Medicine / Clearlake Capital Group: The company was acquired by Clearlake Capital Group through an LBO on March 3, 2025 for an undisclosed amount. The company is a developer of healthcare software designed for dermatology, gastroenterology, ophthalmology, orthopedics, otolaryngology, pain management, plastic surgery, and urology practices, as well as ambulatory surgery centers.

OmicScouts / Momentum Biotechnologies: The company was acquired by Momentum Biotechnologies, via its financial sponsor Care Equity, through an LBO on March 5, 2025 for an undisclosed amount. The company is a developer of chemical proteomics intended to support drug and biomarker discovery.

Parcus Medical / Medacta International: The company was acquired by Medacta International for an undisclosed amount on March 7, 2025. The company is a manufacturer of surgical products intended for implants and instrumentation used by orthopedic surgeons in sports medicine procedures.