Healthcare Private Placement and M&A Transactions Review Week Ending November 17, 2024

Metsera: The company raised $215 million of Series B venture funding in a deal led by Venrock and Wellington Management on November 13, 2024. GV, Alpha Wave Global, SymBiosis Capital Management, Newpath Partners, ARCH Venture Partners, Deep Track Capital, RA Capital Management, SoftBank Group, Fidelity Management & Research, T. Rowe Price Group, Janus Henderson Investors, Viking Global Investors, and other undisclosed investors also participated in the round. The company is an operator of a clinical-stage biopharmaceutical business intended to accelerate medicines for obesity and metabolic diseases.

Alentis Therapeutics: The company raised $181.4 million of Series D venture funding in a deal led by Novo Holdings, OrbiMed and Jeito on November 12, 2024. Avego Management, Frazier Healthcare Partners, Pureos Bioventures, Morningside Group, RA Capital Management, Longitude Capital, Catalio Capital Management, Piper Sandler and Bpifrance also participated in the round. The company is an operator of a clinical-stage biopharmaceutical business intended to offer various treatments for cancer and fibrotic diseases.

Trace Neuroscience: The company raised $101 million of Series A venture funding in a deal led by Third Rock Ventures on November 12, 2024. GV, RA Capital Management and Atlas Venture also participated in the round. The company is a developer of a genetic therapy designed to restore UNC13A protein function and improve communication between nerves and muscles in people with ALS.

TRexBio: The company raised $84 million of Series B venture funding in a deal led by Delos Capital on November 13, 2024. Pfizer Ventures, Johnson & Johnson Innovation – JJDC, Avego Management, Agent Capital, Alexandria Venture Investments, SV Health, Polaris Partners, Eli Lilly and Company Foundation, Delos Capital Partners, and other undisclosed investors also participated in the round. The company is a developer of biotechnology therapeutics designed to treat immune-mediated diseases.

Beta Bionics: The company raised $60 million of Series E venture funding in a deal led by Wellington Management on November 13, 2024. Soleus Capital, Sands Capital, Omega Funds, Eventide Asset Management, Perceptive Advisors, RTW Investments and Marshall Wace also participated in the round. The company is a developer of a bionic pancreas device designed to reduce the burden and cost of diabetes care.

Jocasta Neuroscience: The company raised $31.7 million in Series A venture funding from JVC Investment Partners and other undisclosed investors on November 12, 2024, putting the company’s pre-money valuation at $17.3 million. The company is an operator of a biotech business focused on developing α-klotho protein intended to treat cognitive decline associated with various forms of dementia.

Pinteon Therapeutics: The company raised $29 million of Series B venture funding from undisclosed investors on November 12, 2024. The company is a developer of a novel antibody intended to protect and preserve brain function in patients with neurodegenerative disease.

Zucara: The company raised $20 million of Series B venture funding from Sanofi and Perceptive Advisors on November 12, 2024. The company is a developer of a novel drug therapy designed to prevent hypoglycemia in people with diabetes.

Quantune Technologies: The company raised EUR 13.5 million of venture funding from VSquared Ventures and Point72 Ventures on November 12, 2024. The company is a developer of an infrared spectrometer designed for biomedical consumer devices and industrial applications.

Qnovia: The company raised $14.2 million of venture funding from Timeless Ventures on November 12, 2024, putting the company’s pre-money valuation at $240.8 million. The company is a platform pharmaceutical company focused on inhaled drug delivery technology.

Mediaire: The company raised EUR 12 million of venture funding in a deal led by LBO France on November 13, 2024. High-Tech Gründerfonds, LIFTT, Gateway Ventures, IBB Ventures and Wille Finance also participated in the round. The company is a developer of an artificial intelligence medical imaging tool designed to improve radiologists’ workflow via efficient quantitative image analysis.

Aurealis Therapeutics: The company raised CHF 8 million of venture funding from undisclosed investors on November 15, 2024. The company is a developer of a cell and gene therapy platform designed to treat multifactorial diseases.

FLEX Vessel Prep: The company raised an estimated $5.8 million of venture funding in the form of convertible debt from Endeavour Vision and other undisclosed investors on November 12, 2024. The company is a developer of endovascular medical devices intended to address unmet needs in the treatment of peripheral arterial diseases.

Ensho Therapeutics: The company raised $5.4 million of Series A venture funding from undisclosed investors on November 12, 2024. The company is an operator of a biopharmaceutical business intended to develop oral therapies for patients with inflammatory diseases.

Inanovate: The company raised $3.5 million of venture funding from undisclosed investors on November 15, 2024. The company is a developer of longitudinal assay screening technology designed for the detection and measurement of multiple proteins.

GBI: The company received $3 million of development capital from undisclosed investors on November 12, 2024. The company is a provider of mammalian cell culture development and manufacturing services focused on companies developing complex biologic therapeutics.

AdipoPharma: The company raised an undisclosed amount of venture funding from Good Growth Capital, Newton BioCapital, and SambrInvest on November 11, 2024. Investsud and Okeanos also participated in the round. The company is a developer of a peptide-based drug designed to offer treatment for patients suffering from type 2 diabetes.

Genesis Therapeutics: The company raised an undisclosed amount of venture funding from Nventures on November 13, 2024. The company is a developer of a computational platform designed for the discovery of small-molecule drugs.

Kincon Biolabs: The company raised an undisclosed amount of venture funding from FFG on November 12, 2024. The company is a developer of biosensor technology designed to improve drug development of kinase-targeted drugs.

Atomic Alchemy / Oklo: The company reached a definitive agreement to be acquired by Oklo for $25 million on November 14, 2024. The company is a developer of radioisotopes intended for use in nuclear medicine, industry, defense, and space exploration.

Centogene / Charme Capital Partners: The company entered into a definitive agreement to be acquired by Charme Capital Partners through a EUR 8.7 million public-to-private LBO transaction on November 13, 2024. The company is engaged in providing data-driven answers to patients, physicians, and pharmaceutical companies that are addressing rare and neurodegenerative diseases.

Abpro / Atlantic Coastal Acquisition Corp. II: The company Atlantic Coastal Acquisition Corp. II completed a reverse merger, resulting in the combined entity trading on the NASDAQ Exchange under the ticker symbol ABP on November 11, 2024. The company is an operator of a biotechnology business intended to develop antibody therapies to improve the lives of patients facing severe and life-threatening diseases.

Cullgen / Pulmatrix: The company reached a definitive agreement to be acquired by Pulmatrix, a subsidiary of Ruthigen, for an undisclosed amount on November 13, 2024. The company is a biopharmaceutical business dedicated to the development of first-in-class medicines for the treatment of diseases lacking effective therapeutic approaches.

Invacare / MIGA Holdings: The North American Business of Invacare was acquired by MIGA Holdings for an undisclosed amount on November 12, 2024. The company is a manufacturer and distributor of innovative home and long-term care medical products.

iQone / Celltrion: Celltrion reached a definitive agreement to acquire iQone, a subsidiary of Clinigen, for approximately 30 billion South Korean Won on November 15, 2024. The company is an operator of a specialty pharmaceutical business focusing on commercializing biosimilars, orphan drugs and oncology products.

SimX / Madison Industries: The company was acquired by Madison Industries, via its financial sponsors Sequoia Heritage and Barings, through an LBO on November 15, 2024 for an undisclosed amount. The company is a developer of software intended to provide medical teams with simulated digital twin medical patients.

Skin Specialty Solutions / Unknown Investor: The company was acquired on an undisclosed date. The company is a manufacturer of pharmaceutical products designed for dermatological use.