Strategy | Financing | Macro & Markets
Private Placement / Financing Transactions

Iambic: The company raised $100 million of Series B venture funding from EverBright, Regeneron Ventures and Wilson Sonsini Goodrich & Rosati on November 10, 2025, putting the company’s pre-money valuation at $449.5 million. Terra Magnum Capital Partners, Alexandria Venture Investments, Pegasus Tech Ventures, ARK Ventures (US), Freeflow Ventures, Catalio Capital Management, Sequoia Capital, Tao Capital Partners, Ascenta Capital, Abingworth, Illumina Ventures, Alumni Ventures, Qatar Investment Authority, Mubadala Capital and other undisclosed investors also participated in the round. The company is a developer of artificial intelligence-powered computational drug design platforms for optimizing small molecule therapeutics and addressing complex drug discovery challenges.

T-Therapeutics: The company raised $91 million of Series A venture funding in a deal led by Digitalis Ventures, Cambridge Innovation Capital, and F-Prime Capital on November 13, 2025. Tencent Holdings, Sanofi Ventures, BGF, and Cambridge Enterprise Ventures also participated in the round. The company is a developer of engineered soluble biologic therapeutics for treating oncology and immunological diseases.

Gate Bioscience: The company raised $65 million of Series B venture funding in a deal led by Forbion on November 13, 2025, putting the company’s pre-money valuation at $96 million. GV, Eli Lilly, Andreessen Horowitz, Versant Ventures, ARCH Venture Partners, and other undisclosed investors also participated in the round. The company is a developer of small molecule drugs that selectively degrade extracellular proteins within cells to prevent disease-causing protein secretion.

4TEEN4 Pharmaceuticals: The company raised EUR 55 million of Series C venture funding from undisclosed investors on November 13, 2025. The company is a developer of precision medicine designed to improve outcomes in critical care for acute cardiovascular complications.

House Rx: The company raised $55 million of Series B venture funding in a deal led by New Enterprise Associates and Town Hall Ventures on November 12, 2025. Silicon Valley Bank, Bessemer Venture Partners, LRVHealth, and First Round Capital also participated in the round. The company is an operator of a technology-enabled specialty pharmacy providing home delivery and patient support services for complex medications.

Clairity: The company raised $43 million of Series B venture funding from Breast Cancer Research Foundation, Santé Ventures, and ACE GESTAO GLOBAL on November 13, 2025. The company is a developer of a mammography-based deep-learning platform designed for early breast cancer detection.

Saluda Medical: The company received $30 million of development capital from undisclosed investors on November 12, 2025. The company is a developer of closed-loop neuron modulation devices intended to treat chronic neuropathic pain.

Pinteon Therapeutics: The company raised $29.2 million of Series B venture funding from undisclosed investors on November 12, 2025. The company is a developer of antibody therapeutics targeting neuroinflammation and neurodegenerative pathways to preserve brain health.

myTomorrows: The company raised EUR 25 million of venture funding from Avego Management on November 11, 2025. The company is an operator of a healthcare platform connecting patients with investigational treatments and expanded access programs for drugs in clinical development.

Aureka Biotechnologies: The company raised $23.2 million of Series A venture funding in a deal led by Qiming Venture Partners and 5Y Capital on November 10, 2025. Agentic Ventures and Newley Capital also participated in the round. The company is a developer of computational therapeutic discovery platforms using artificial intelligence for large-scale drug design automation.

Indivi: The company raised CHF 15 million of venture funding in a deal led by Ava Investors and other undisclosed investors on November 12, 2025, putting the company’s pre-money valuation at CHF 126 million. The company is a developer of digital biomarkers and wearable sensing technology for monitoring neurological conditions and supporting neuroscience drug development.

Virometix: The company raised $15 million of venture funding from undisclosed investors on November 13, 2025. The company is a developer of vaccines and immunotherapeutic drugs designed to prevent and treat infections and chronic human diseases.

ZetaGen Therapeutics: The company received $12.9 million of development capital from undisclosed investors on November 12, 2025. The company is a developer of a small molecule-based osteoinductive technology designed to suspend cancer, inhibit pain and regenerate bone.

Elixirgen Therapeutics: The company raised $8.2 million of venture funding in the form of convertible debt from undisclosed investors on November 13, 2025. The company is a developer of stem cell therapies and regenerative medicine approaches for treating neurodegenerative diseases including Alzheimer’s disease.

Ladder Bio: The company raised $5.5 million of venture funding in a deal led by Medical Excellence Capital on November 12, 2025. Hatch Biofund Management also participated in the round. The company is a developer of computational chemistry platforms for designing spiroligomers and synthetic molecular structures for therapeutic applications.

Micro Medical Solutions: The company raised $4.7 million of venture funding from undisclosed investors on November 13, 2025. The company is a developer of microvascular intervention devices and therapies for preventing limb amputations in patients with peripheral artery disease.

Alume Biosciences: The company raised $3.6 million of Series C venture funding from undisclosed investors on November 11, 2025. The company is a developer of fluorescence imaging technology that illuminates nerve tissue during surgical procedures to enable nerve-sparing precision surgery.

Model Medicines: The company raised $3.2 million of venture funding from undisclosed investors on November 13, 2025. The company is a developer of artificial intelligence-powered drug discovery platforms for accelerating therapeutic development.

iRiva Medical: The company raised an undisclosed amount of venture funding in a deal led by F-Prime Capital on November 11, 2025. Hatteras Venture Partners, Norwest and Treo Ventures also participated in the round. The company is a developer of implantable neuromodulation devices for treating chronic pain and other persistent health conditions.

Kiyatec: The company raised an undisclosed amount of venture funding in a deal led by Medical & Bio Decision on November 14, 2025. The company is a developer of three-dimensional cell culture technology for predicting patient-specific therapeutic responses before initiating treatment.

Leukogene Therapeutics: The company raised an undisclosed amount of venture funding from SC Launch and South Carolina Research Authority on November 12, 2025. The company is an operator of an oncology-focused biotech business intended to accelerate the development of new therapeutics for patients with advanced-stage cancer.

Vascarta: The company is in the process of raising Series A venture funding on November 10, 2025. The company is a developer of pharmaceutical drug candidates and novel delivery systems for treating chronic inflammatory diseases and certain cancer types.


M&A Transactions

Cidara Therapeutics / Merck & Co.: The company reached a definitive agreement to be acquired by Merck & Co. for $9.2 billion on November 14, 2025. Cidara Therapeutics Inc develops immunotherapeutic conjugates and antiviral drugs for treating serious infectious diseases and immune disorders.

Mersana Therapeutics / Day One Biopharmaceuticals: The company reached a definitive agreement to be acquired by Day One Biopharmaceuticals for up to $285 million on November 13, 2025. Mersana Therapeutics Inc is a clinical-stage biopharmaceutical company developing antibody-drug conjugates for treating solid tumors and hematological cancers with unmet medical needs.

Crown Bioscience / Adicon Clinical Laboratory: The company, a subsidiary of JSR, reached a definitive agreement to be acquired by Adicon Clinical Laboratory for $204 million on November 13, 2025. The company is an operator of a contract research organization providing preclinical oncology services, drug discovery support, and translational research for biopharmaceutical development.

Alcyone Therapeutics / Biogen: The company was acquired by Biogen for an undisclosed amount on November 14, 2025. The company is a developer of intrathecal drug delivery systems and catheter-based technologies for delivering therapeutics directly to the central nervous system.

CIMAR / DeepHealth: The company was acquired by DeepHealth, a subsidiary of RadNet, for an undisclosed amount on November 11, 2025. The company is a developer of cloud-based medical imaging and health information exchange platforms enabling secure data sharing among healthcare providers.

Cisteo Medical / Agon Electronics: The company was acquired by Agon Electronics, via its financial sponsor Argos Fund, through an LBO on November 13, 2025 for an undisclosed amount. The company is a manufacturer of medical devices and provides contract assembly services for healthcare product development and commercialization.

Doppl / InSphero: The company reached a definitive agreement to be acquired by InSphero for an undisclosed amount on November 11, 2025. The company is a developer of three-dimensional biological modeling systems and organoid technologies for preclinical drug testing and therapeutic development..

Repare Therapeutics / XenoTherapeutics: The company reached a definitive agreement to be acquired by XenoTherapeutics for $78.2 million on November 15, 2025. Repare Therapeutics Inc is a precision oncology company developing synthetic lethality-based cancer therapeutics targeting DNA damage repair pathways.

Swixx Biopharma / Multiple Investors: The company has received bids to be acquired by Lone Star, SK Capital Partners and DKSH Holding through an LBO as of November 16, 2025 for an undisclosed amount. The company is a provider of pharmaceutical commercialization and market access services including sales, marketing, and distribution for biopharmaceutical, over-the-counter, and medical device companies.

Tonic Health / Luma Health: The company was acquired by Luma Health for an undisclosed amount on November 12, 2025. The company is an operator of a patient data collection and payment processing platform for gathering health information and managing financial transactions across multiple devices.


Source: Pitchbook Data, Inc.

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