Healthcare Private Placement and M&A Transactions Review Week Ending May 7, 2023

Convergent Therapeutics: The company raised $90 million of Series A1 venture funding in a deal led by OrbiMed and RA Capital Management on May 3, 2023, putting the company’s pre-money valuation at $70 million. The company is an operator of a clinical-stage biotechnology company intended to explore the potential of dual-targeted combination strategies to treat cancer.

Monogram: The company raised an estimated $80 million of Series D venture funding from Wikus Ventures and other undisclosed investors on May 2, 2023, putting the company’s pre-money valuation at $900 million. The company is a developer of therapeutic devices designed to cater to the needs of patient-specific orthopedic implants.

Ten63 Therapeutics: The company raised $15.9 million of Series A venture funding in a deal led by Hatteras Venture Partners on May 2, 2023, putting the company’s pre-money valuation at $23 million. Alexandria Venture Investments, The Sigma Group, SOSV, Draper Associates, and Morpheus Ventures also participated in the round. The company is a developer of novel antineoplastic therapeutics intended to create remedial medicines to targets previously believed undruggable.

4D Path: The company raised $13.0 million of venture funding from undisclosed investors on May 3, 2023. The company is a developer of precision oncology platform designed to revolutionize cancer diagnostics.

Xsphera Biosciences: The company raised $12.7 million of venture funding from Aquila Capital Partners and other undisclosed investors on May 2, 2023. The company is a developer of a tumor preservation platform designed for functional predictive assays of patient responses to oncology therapeutics.

Graviton BioScience: The company closed on $10 million of an undisclosed targeted amount of Series A venture funding from Ovid Therapeutics on May 1, 2023. The company is a developer of therapeutics intended for the treatment of autoimmune diseases.

Avotres: The company raised $4 million of venture funding in the form of convertible debt from undisclosed investors on May 4, 2023. The company is an operator of a biotechnology business intended to develop and commercialize transformational therapies and drugs in autoimmune diseases, cancers, and transplantation.

apoQlar: The company raised an undisclosed amount of venture funding from YZR Capital in May 2023. The company is a developer of a medical mixed reality platform designed to improve medicinal practices and experience.

Avails Medical: The company raised an undisclosed amount of venture funding from MedVenture Partners in May 2023. The company is a developer of an in vitro diagnostic technology designed to meet the global challenge of antibiotic resistance and health-care-associated infections.

Serna Bio: The company raised an undisclosed amount of venture funding from Hummingbird Ventures in May 2023. The company is a developer of an AI-enabled drug discovery platform designed to help clients explore therapeutics for the many diseases with no known treatments.

Dianthus Therapeutics / Magenta Therapeutics: The company reached a definitive agreement to acquire Magenta Therapeutics through a reverse merger, resulting in the combined entity trading on the Nasdaq under the ticker symbol “DNTH” on May 3, 2023. The company is a developer of next-generation complement therapeutics designed to deliver transformative medicines for patients with rare diseases.

Exacis Biotherapeutics / Eterna Therapeutics: The company was acquired by Eterna Therapeutics for $50 million on May 2, 2023. The company is a developer of advanced cellular therapeutics designed to deliver targeted, effective cell therapies to harness the human immune system and cure cancer.

Medtech Concepts / OrthoPediatrics: The company, a subsidiary of DINZE reached a definitive agreement to be acquired by OrthoPediatrics for $15.2 million on May 1, 2023. The company is a manufacturer and developer of diabetic medical equipment intended to improve the diabetic health of patients.

Apixio / New Mountain Capital: The company, a subsidiary of Centene, entered into a definitive agreement to be acquired by New Mountain Capital through an LBO on May 3, 2023 for an undisclosed amount. The company is a developer of an AI technology platform designed to transform actionable information from healthcare data.

Avertix / BioPlus Acquisition: The company reached a definitive agreement to acquire BioPlus Acquisition through a reverse merger, resulting in the combined entity trading on the Nasdaq under the ticker symbol AVRT on May 3, 2023. The company is a developer of a cardiac monitoring and alerting device designed to improve cardiovascular care.

DiNAMIQS / Siegfried Holding: The company was acquired by Siegfried Holding for an undisclosed amount on May 4, 2023. The company is an operator of a biotechnology company focused on the development and manufacturing of viral vectors for cell and gene therapies.

PlanTec Medical / Cousin Surgery: The company was acquired by Cousin Surgery, via its financial sponsors Altur Investissement, Nord Capital Partenaires, Turenne Capital Partenaires and Dalle & Associes, through an LBO on May 2, 2023 for an undisclosed amount. The company is an operator of a surgical medical device firm that produces an innovative medical device for adhesion prevention and hemostasis.