Healthcare Private Placement and M&A Transactions Review Week Ending November 2, 2025

Tubulis: The company raised EUR 344 million of Series C venture funding in a deal led by Venrock on October 30, 2025. Andera Partners, Frazier Healthcare Partners, Blackstone, Ascenta Capital, Fund+, EQT Life Sciences, Nextech Invest, Deep Track Capital, High-Tech Gründerfonds, Seventure Partners, Bayern Kapital, OCCIDENT, Fidelity Management & Research Company, Janus Henderson Investors, Wellington Management and other undisclosed investors also participated in the round. The company is a developer of chemotherapeutic drugs designed to fight against cancer and chronic diseases.

SetPoint Medical: The company raised $115 million of Series D venture funding in a deal led by Elevage Medical Technologies and Ally Bridge Group on October 28, 2025, putting the company’s pre-money valuation at $368 million. Northwell Health, Abbott, Norwest, Sprig Equity, and other undisclosed investors also participated in the round. The company is a developer of an implantable bioelectronic medical device designed to modulate neuroimmune pathways for reducing inflammation and restoring immunologic balance in chronic autoimmune conditions.

FLEX Vessel Prep: The company raised $49.2 million of Series C venture funding in a deal led by S3 Ventures on October 29, 2025, putting the company’s pre-money valuation at $11 million. Endeavour Vision, RiverVest Venture Partners, and other undisclosed investors also participated in the round. The company is a developer of endovascular medical devices intended to address unmet needs in treating peripheral arterial diseases.

Curve Biosciences: The company raised $40 million of venture funding in a deal led by Luma Group on October 29, 2025. Techas Capital, Civilization Ventures, LifeX Ventures, NZVC, Incite Ventures (San Francisco), First Spark Ventures, Mintaka VC Management and Micah Spear also participated in the round. The company is a developer of liver cancer diagnostics designed for disease prevention and screening.

Indomo: The company raised $25 million of venture funding from Atomic, Foresite Capital, and Polaris Partners on October 29, 2025. The company is a clinical-stage therapeutics business focused on developing at-home, self-administered treatments for inflammatory skin conditions like acne, with its lead product being the ClearPen, an intradermal auto-injector.

Stethophone: The company raised $10 million of venture funding in a deal led by Killick Capital and Klister Credit on October 29, 2025. Labrador Resources, Pelorus Venture Capital, Newfoundland Capital Management, and Brinex Capital also participated in the round. The company is a developer of a smartphone stethoscope designed to collect and collaborate on medical-grade cardiac and pulmonary data.

Primaa: The company raised EUR 7 million of Series A venture funding from SWEN Capital Partners, Super Capital and other undisclosed investors on October 29, 2025. The company is a developer of a medical diagnostic software designed for automated and accurate histological diagnoses.

Semalytix: The company raised EUR 5.7 million of venture funding in a deal led by Holland Capital on October 29, 2025. Other undisclosed investors also participated in the round. The company is a developer of artificial intelligence-powered analytics platforms that extract and analyze patient-reported experiences and real-world evidence from online health communities for oncology, inflammatory diseases, metabolic disorders, and respiratory conditions.

Avicenna Biosciences: The company raised $5.9 million of venture funding from DCVC Bio and other undisclosed investors on October 28, 2025. The company is a developer of machine learning-powered medicinal chemistry platforms for computational drug design and molecular optimization.

Alume Biosciences: The company raised $3 million of Series C venture funding from undisclosed investors on October 30, 2025. The company is a developer of a nerve illumination technology designed to help doctors perform precision surgery.

Terra Bioforge: The company is in the process of raising venture funding on October 31, 2025. The company is an operator of a a synthetic biology platform for discovering, engineering, and manufacturing bioactive natural products and therapeutic compounds for human, agricultural, and veterinary applications.

Clario / Thermo Fisher Scientific: The company reached a definitive agreement to be acquired by Thermo Fisher Scientific for $8.8 billion on October 29, 2025. The company is a provider of health outcomes research services and medical devices intended for biopharmaceutical sponsors and contract research organizations.

OrganOx / Terumo: The company was acquired by Terumo for $1.5 billion on October 31, 2025. The company is a developer and manufacturer of organ preservation and transplantation devices designed to reduce liver decay.

Tourmaline Bio / Novartis: The company was acquired by Novartis for $1.4 billion on October 28, 2025. Tourmaline Bio Inc is late-stage clinical biotechnology company developing novel immunomodulatory therapeutics for autoimmune and inflammatory diseases.

ANiGENT / Omnicell: The company was acquired by Omnicell for an undisclosed amount on October 27, 2025. The company is a developer of a drug diversion monitoring and controlled substance tracking software for detecting medication theft and misuse in healthcare facilities.

ARK Diagnostics / ARCHIMED: The company was acquired by Soulbrain and ARCHIMED through an estimated $428 million LBO on October 28, 2025. The company is a manufacturer of in vitro diagnostic immunoassays and therapeutic drug monitoring tests for measuring pharmaceutical drug concentrations in patient blood samples.

Noninvasix / Cypher Metaverse: The company reached a definitive agreement to be acquired by Cypher Metaverse and become publicly traded through a reverse merger on October 31, 2025. The company is a developer of an optoacoustic platform technology designed to non-invasively and continuously measure central venous saturation.

Redberry / Lonza Group: The company reached a definitive agreement to be acquired by Lonza Group for an undisclosed amount on October 27, 2025. The company is a developer of automated rapid microbial detection systems for quality control testing in water, food processing, and pharmaceutical manufacturing..

Wellspent / Babbel: The company was acquired by Babbel for an undisclosed amount on October 30, 2025. The company is a developer of digital wellbeing applications that monitor and reduce smartphone usage and screen time addiction.