Strategy | Financing Highlight 
Private Placement / Financing Transactions

ReNAgade Therapeutics: The company raised $300 million of Series A venture funding in a deal led by MPM Capital and F2 Ventures on May 23, 2023. BioImpact Capital and Alexandria Venture Investments also participated in the round. The company is a developer of a gene therapy technology intended to improve the safety and efficacy of gene therapies.

Avenzo Therapeutics: The company raised $196.5 million of venture funding from Lilly Asia Ventures, Surveyor Capital and other undisclosed investors on May 26, 2023. The company is a developer of a biotechnology research company for the treatment of cancer.

Carmot Therapeutics: The company raised $150 million of Series E venture funding in a deal led by Deep Track Capital on May 25, 2023. Venrock, TCG Crossover Management, The Column Group, 5AM Ventures, Franklin Templeton, Frazier Lifesciences Acquisition, Janus Henderson Investors, Millennium Management, RA Capital Management, and Willett Advisors also participated in the round. The company is a developer of metabolic drugs designed to unlock novel therapeutic targets not currently accessible to conventional small-molecule technologies.

BenchSci: The company raised CAD 95 million of Series D venture funding in a deal led by Generation Investment Management on May 25, 2023. Golden Ventures, Inovia Capital, F-Prime Capital, and TCV also participated in the round. The company is a developer of a research intelligence platform designed to accelerate biomedical discoveries.

Quanta Therapeutics: The company raised $50.7 million of Series D venture funding in a deal led by Avidity Partners on May 22, 2023. AbbVie Ventures, Sofinnova Investments, Vida Ventures (Boston), Longitude Capital, BVF Partners and Surveyor Capital also participated in the round. The company is an operator of a biopharmaceutical business intended to create drugs for oncology treatments.

Larkspur Biosciences: The company raised $35.5 million of combined seed and Series A funding in a deal led by Takeda Ventures, Polaris Partners and 3E Bioventures Capital on May 23, 2023. Creacion Ventures, Med-Fine Capital and Cornell University also participated in the round. The company is a developer of immunotherapies designed to support cancer treatment.

Zageno: The company raised $33 million of venture funding in a deal led by Grazia Equity, General Catalyst and Oak Ridge Management Group on May 25, 2023. Capnamic Ventures, HighSage Ventures and other undisclosed investors also participated in the round. The company is an operator of a life science marketplace intended to provide supplies for research scientists.

restor3d: The company raised $12 million of venture funding in the form of convertible debt from undisclosed investors on May 24, 2023. The company is a developer of 3D-printed implants intended to repair and reconstruct the human body.

Radformation: The company raised $6.9 million of venture funding from undisclosed investors on May 25, 2023. The company is a developer of a workflow automation platform for cancer clinics.

Mag4health: The company raised EUR 5.3 million of venture funding from Région Auvergne-Rhône-Alpes, BPI, and ANR on May 23, 2023. Badge, Samba, Simba Sante, Rhône Vallée Angels, Grenoble Angels, 33 California, Momentum Biotech, and Monaco Molecular Roc Fund also participated in the round. The company is a developer of brain imaging systems designed to improve brain care.

Innersight: The company raised an undisclosed amount of venture funding from UCL Business on May 26, 2023. The company is a developer of a surgery planning platform intended to visualize cancer and improve surgery outcomes.


M&A Transactions

Apexigen / Pyxis Oncology: The company reached a definitive agreement to be acquired by Pyxis Oncology for $16 million on May 24, 2023. Apexigen Inc is a clinical-stage biopharmaceutical company focused on discovering and developing a new generation of antibody therapeutics for oncology, with an emphasis on new immuno-oncology agents designed to harness the patient’s immune system to combat and eradicate cancer.

Pear Therapeutics / Nox Medical: The company, a subsidiary of Pear Therapeutics was acquired by Nox Medical, via its financial sponsors Vestar Capital Partners and Alfa Framtak, through a $3.9 million LBO on May 24, 2023. The company is an operator of a digital therapeutic platform intended for adults with chronic insomnia.

Theralink Technologies / IMAC Holdings: The company reached a definitive agreement to be acquired by IMAC Holdings through a reverse merger, resulting in the combined entity trading on the Nasdaq stock exchange on May 23, 2023. Theralink Technologies Inc is a proteomics-based, precision medicine and molecular profiling company that specializes in patented, phosphoprotein, and protein biomarker assay services that target multiple areas of oncology.


Source: Pitchbook Data, Inc.

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