Healthcare Private Placement and M&A Transactions Review Week Ending May 5, 2024

Innovaccer: The company raised $250 million in Series F venture funding from Kaiser Permanente, Mubadala Capital and other undisclosed investors on April 30, 2024, putting the company’s pre-money valuation at $2.75 billion. The company is a developer of a data activation platform designed to assist healthcare organizations to activate their data silos.

Enlaza Therapeutics: The company raised $100 million of Series A venture funding in a deal led by JPMorgan Life Sciences Private Capital on April 30, 2024, putting the company’s pre-money valuation at $77 million. Amgen Ventures, Regeneron Ventures, Frazier Healthcare Partners, Avalon Ventures, Lightspeed Venture Partners, Samsara BioCapital, Bregua Corporation, Pappas Capital and Alexandria Venture Investments also participated in the round. The company is a developer of novel protein therapeutics using covalent biologics.

Karius: The company raised $100 million of Series C venture funding in a deal led by Khosla Ventures, 5AM Ventures and Gilde Healthcare on May 2, 2024, putting the company’s pre-money valuation at $85 million. SoftBank Investment Advisers, General Catalyst, HBM Healthcare Investments, Seventure Partners, Innovation Endeavors, Waycross Ventures and Blue Water Life Science Fund also participated in the round. The company is an operator of a clinical laboratory testing center intended to focus on generating genomic insights for infectious diseases.

Delphia: The company raised $67 million of venture funding led by GV, Polaris Innovation Fund and Alexandria Venture Investments on May 2, 2024. Nextech Invest also participated in the round. The company is an operator of a biotechnology business focused on precision cancer therapeutics.

Latus Bio: The company raised $54 million of Series A venture funding in a deal led by 8VC and DCVC Bio on May 3, 2024. Children’s Hospital of Philadelphia Foundation, Benjamin Franklin Technology Partners, Samsung Venture Investment, Gaingels, Calm Ventures, and Modi Ventures also participated in the round. The company is a developer of curative AAV gene therapy products for CNS disorders.

Abacus Insights: The company raised $40.9 million of Series C venture funding in a deal led by MultiPlan on May 1, 2024. Blue Venture Fund, Tech Council Ventures, Echo Health Ventures, .406 Ventures, CRV and Horizon Blue Cross Blue Shield of New Jersey also participated in the round. The company is a developer of a data integration platform across healthcare information systems.

Vitestro: The company raised EUR 20 million of venture funding in a deal led by NYBC Ventures and Sonder Capital on April 30, 2024. European Innovation Council Fund, Invest-NL, and other undisclosed investors also participated in the round. The company is a developer of medical robotic devices designed for use in hospitals and clinical laboratories.

Integrity Orthopaedics: The company raised $20.6 million of Series B venture funding in a deal led by Piper Sandler on April 30, 2024. The company is a developer of a rotator cuff repair device.

Legacy Healthcare: The company is in the process of raising $20 million of venture funding on April 30, 2024. The company is a developer of a Swiss-based biotech business designed to treat autoimmune and inflammatory diseases.

Adaptilens: The company raised $17.5 million of Series A venture funding in a deal led by Xontogeny on April 29, 2024. 380 Cap, Pillar VC and Accanto Partners also participated in the round. The company is a developer of an accommodating intraocular lens designed to replicate the human eye lens.

4P-Pharma: The company received EUR 15 million of development capital from undisclosed investors on April 29, 2024. The company is an operator of a biotechnology firm developing curative therapies for untreated serious diseases.

Locate Bio: The company raised GBP 9.2 million of venture funding from BGF and Mercia Asset Management on April 30, 2024. The company is a developer of LDGraft, a bone graft substitute for spinal fusion.

Lucy Therapeutics: The company raised $10.5 million of Series A3 venture funding from undisclosed investors on December 22, 2023. The company is a developer of proprietary mitochondrial-based small molecule therapies and diagnostic biomarkers intended for the treatment of diseases of the central nervous system.

Transcripta Bio: The company raised $10 million of venture funding from BlueYard Capital, JAZZ Venture Partners and other undisclosed investors on April 29, 2024. The company uses AI to generate new pharmaceuticals.

Origin (Diagnostic Equipment): The company raised GBP 7.8 million of venture funding from 2050 Capital, Conan Capital and CSVE Ventures on April 30, 2024, putting the company’s pre-money valuation at GBP 119.3 million. The company is a developer of microbiome diagnostic devices designed to detect and diagnose gastrointestinal diseases.

PlaqueTec: The company raised GBP 6.4 million of venture funding in a deal led by Lord Moynihan and Future Fund (UK) on April 30, 2024, putting the company’s pre-money valuation at GBP 96.9 million. Andrew Brown, Sir Michael Hintze, David Harding and other undisclosed investors also participated in the round. The company is a developer of a biomarker system designed to facilitate the development of drugs that target the inflammatory processes underlying coronary artery disease progression.

Nebu-Flow: The company raised GBP 4.7 million of venture funding in a deal led by SCVC on April 29, 2024. Foresight WAE Technology, Ascension, Scottish Enterprise, Conduit Connect and SIS Ventures also participated in the round. The company is a developer of a novel pulmonary drug-delivery technology designed for patients with respiratory disorders.

Cage Bio: The company raised $4.8 million of venture funding from undisclosed investors on May 1, 2024. The company is a developer of a eutectic ionic liquid designed to minimize the pervasive use of systemic drugs for the treatment of dermal diseases.

Carbometrics: The company raised GBP 2.1 million of venture funding in a deal led by Science Creates Ventures on May 2, 2024. Ada Ventures, Selvedge Venture, University of Bristol Endowment and other undisclosed investors also participated in the round. The company is a developer of a glucose-binding molecule platform designed to help people with diabetes.

HelixNano: The company raised an undisclosed amount of venture funding from LongeVC in May 2024. The company is an operator of a biotechnology business that uses AI to develop mRNA vaccines and therapies across human and non-human biology.

Curieo: The company raised an undisclosed amount of venture funding from 42CAP in May 2024. The company is a developer of AI technology designed for life sciences research.

Kalderos: The company raised an undisclosed amount of venture funding from Lago Innovation Fund in May 2024. The company is a developer of a medicine management platform designed to analyze the complex coordination of drug discount programs.

Deciphera Pharmaceuticals / ONO Pharmaceutical: The company reached a definitive agreement to be acquired by ONO Pharmaceutical for $2.4 billion on April 29, 2024. Deciphera Pharmaceuticals Inc is a biotechnology company that develops and manufactures kinase-inhibiting drugs for the treatment of cancers and immunological diseases.

Epygenix Therapeutics / Harmony Biosciences: The company was acquired by Harmony Biosciences for $680 million on April 30, 2024. The company is a developer of precision medicine designed to treat rare and catastrophic forms of genetic epilepsy.

Endomag / Hologic: The company reached a definitive agreement to be acquired by Hologic for $310 million on April 29, 2024. The company is a developer of a magnetic sensing technology designed to offer a non-radioactive surgical guidance platform for breast cancer.

Blackrock Neurotech / Tether: The company was acquired by Tether through a $200 million LBO on April 29, 2024. The company is a developer of a neurotechnology platform designed to record bio-potentials from the central and peripheral nervous system in both chronic and acute applications.

Curetis / Camtech: The company was acquired by Camtech through an LBO on April 29, 2024 for an undisclosed amount. The company is a developer of molecular diagnostic technology based in Holzgerlingen, Germany.

Kinto / Rippl Care: The company was acquired by Rippl Care for an undisclosed amount on May 1, 2024. The company is a provider of technology-enabled care coaching services for family members caring for a loved one with dementia.

Limbus AI / Radformation: The company was acquired by Radformation, via its financial sponsor BVP Forge, through an LBO on May 1, 2024 for an undisclosed amount. The company is a developer of automated contouring software dedicated to improving cancer care through radiation therapy.

Mariana Oncology / Novartis: The company was acquired by Novartis on an undisclosed date for $1 billion with an additional $750 million if milestones are met. The company is an operator of a radiopharmaceutical business intended to discover and develop safe, effective, and highly targeted radiopharmaceuticals.

Penetrex / Multiple Investors: The company, a subsidiary of Eu Natural, was acquired by The Emerson Group, Carlin Consumer Health, Hildred Capital Management, Bourne Partners and other undisclosed investors through an LBO on April 30, 2024. The company is a developer and manufacturer of a proprietary topical formulation ointment intended to provide joint and muscle relief.

Tanita Health / Forval: The company was acquired by Forval for an undisclosed amount on May 2, 2024. The company is a developer of body composition and medical weight scales.