Healthcare Private Placement and M&A Transactions Review Week Ending November 3, 2024

Seaport Therapeutics: The company raised $226 million of Series B venture funding in a deal led by General Atlantic, ARCH Venture Partners, and Sofinnova Investments on October 31, 2024, putting the company’s pre-money valuation at $515 million. Foresite Capital, The Invus Group, Third Rock Ventures, PureTech Health, T. Rowe Price Group, Goldman Sachs Asset Management, and CPP Investments also participated in the round. The company is an operator of a biopharmaceutical business intended to develop novel neuropsychiatric medicines in areas of high unmet patient needs.

SynOx Therapeutics: The company raised $127 million of venture funding through a combination of debt and equity on October 30, 2024. The company is a developer of humanized monoclonal antibodies intended to significantly improve the lives of people living with Tenosynovial giant cell tumors (TGCT) and other colony-stimulating factor 1 (CSF-1) and macrophage-mediated diseases.

Axonis Therapeutics: The company raised $115 million of Series A venture funding in a deal led by venBio and Cormorant Asset Management on October 30, 2024, putting the company’s pre-money valuation at $85 million. Eos BioInnovation, MRL Ventures Fund, Solasta Ventures, Hatteras Venture Partners, Lumira Ventures, SCI Ventures (London), Iaso Ventures, Sofinnova Investments, Alexandria Venture Investments, BoxOne Ventures, Tachyon Ventures, Pathway Bioventures and Perceptive Advisors also participated in the round. The company is a developer of neurological disorders therapy for critical mediators of inhibition within the brain.

Evommune: The company raised $115 million of Series C venture funding in a deal led by RA Capital Management and Sectoral Asset Management on October 31, 2024. Oscar & Paul, Andera Partners, Avego Management, Longwood Fund, EQT Life Sciences, SymBiosis Capital Management, Amplitude Ventures, FemHealth Ventures, NextBio Capital, Pivotal bioVenture Partners CNS, Allostery Investments, Verition Fund Management, B Capital, Marshall Wace, RTW Investments and ADAR1 Capital Management also participated in the round. The company is a provider of novel therapies designed to treat and halt the progression of chronic inflammatory disease.

Blue Earth Therapeutics: The company raised $76.5 million of Series A venture funding in a deal led by Soleus Capital and Sands Capital on October 30, 2024. Blue Earth Therapeutics, PBM Capital, The Bracco Group and Woodline Partners also participated in the round. The company is a clinical stage radiopharmaceutical company dedicated to the advancement of next generation targeted radiotherapeutics to treat cancer patients.

Pathos: The company raised $62 million of Series C venture funding in a deal led by New Enterprise Associates on October 29, 2024, putting the company’s pre-money valuation at $538 million. Builders VC, Revolution (Washington DC), Lightbank, and other undisclosed investors also participated in the round. The company is a developer of a drug discovery platform intended to reduce the duration of the medication development process.

Garuda Therapeutics: The company raised $47.7 million of venture funding from undisclosed investors on October 31, 2024. The company is an operator of a stem cell therapy biotech business intended to treat patients with blood, bone marrow, immune and metabolic diseases.

IHP Therapeutics: The company closed on $35 million of an undisclosed targeted amount of Series A venture funding on October 31, 2024. The company is a developer of novel medicines designed to improve and save lives through scientific discovery and development of glycan therapeutics.

Aignostics: The company raised $34 million of Series B venture funding in a deal led by Athos on October 29, 2024. Mayo Clinic, Boehringer Ingelheim Venture Fund, High-Tech Gründerfonds, IBB Ventures, Wellington Partners and CARMA FUND Management also participated in the round. The company is a developer of an artificial intelligence-based image analysis system designed to develop best-in-class insights for precision medicine.

Earli: The company raised $20 million of Series A venture funding from Accenture Ventures, Alumni Ventures and Khosla Ventures on October 31, 2024, putting the company’s pre-money valuation at $174 million. GLIN Impact Capital also participated in the round. The company is a developer of cancer-programmable genetic constructs designed to turn on only in cancer cells and force them to be revealed.

EvolveImmune Therapeutics: The company raised $20 million of venture funding from undisclosed investors on October 29, 2024. The company is a developer of novel immunotherapies designed to provide treatments for unmet needs in oncology and autoimmune diseases.

Codetta Bio: The company raised $12.3 million of venture funding from 2ndF and other undisclosed investors on October 29, 2024. The company is a developer of multi-omic analysis tools designed for comprehensive biomarker measurement.

Vitara: The company raised $10 million of Series A venture funding from undisclosed investors on October 28, 2024, putting the company’s pre-money valuation at $96 million. The company is a developer of a therapeutic platform intended to support premature infants.

InTruth: The company raised $9.5 million of venture funding from undisclosed investors on October 28, 2024. The company is a developer of an emotion monitoring platform designed to track and analyze emotional states in real time through consumer grade wearables.

Vara: The company raised $9 million of venture funding in a deal led by FJH, IBB Ventures and Smart Family Office and were joined by Merantix, VI Partners, and EQT Foundation on October 29, 2024. The company is a developer of a breast cancer screening platform intended to make affordable diagnostics available all over the world.

Vaxinano: The company raised EUR 6 million of venture funding in a deal led by TCD Capital on October 29, 2024. Captech Santé, WiSeed, Nord France Amorçage, and Bpifrance also participated in the round. The company is an operator of a biotechnology firm intended to specialize in the development of prophylactic and therapeutic vaccines for infectious diseases.

DaylightRx: The company raised $5.8 million of venture funding from undisclosed investors on October 30, 2024. The company is an operator of an analytics and workflow optimization platform intended for the pharmaceutical industry.

Accuryn: The company raised $3.2 million of venture funding from undisclosed investors on October 31, 2024. The company is a developer of predictive health monitoring system designed to improve patient care using artificial intelligence and machine insights.

Embr Labs: The company raised $3 million of venture funding from undisclosed investors on October 30, 2024. The company is a developer of a wearable device for monitoring body temperature.

1910 Genetics: The company raised an undisclosed amount of venture funding from Accenture Technology Ventures on October 31, 2024. The company is a developer of a drug discovery platform intended to offer small and large molecule drug discovery with a multimodal AI platform powered by laboratory automation.

Aliada Therapeutics / AbbVie: The company reached a definitive agreement to be acquired by AbbVie for $1.4 billion on October 28, 2024. The company is a developer of drug development therapy designed to treat central nervous system diseases.

Dermavant Sciences / Organon & Co.: The company was acquired by Organon & Co., a subsidiary of Merck & Co., for $1.2 billion on October 28, 2024. Dermavant Science Ltd is a clinical-stage  biopharmaceutical company that develops treatments for chronic skin conditions, such as psoriasis and atopic dermatitis.

AdvancedMD / Francisco Partners: The company, a subsidiary of Global Payments, entered into a definitive agreement to be acquired by Francisco Partners through a $300 million LBO on October 30, 2024. The company is a provider of cloud-based practice management, electronic health records, and revenue cycle management services for the independent physician practice market.

NuAire / Kewaunee Scientific: The company was acquired by Kewaunee Scientific for $55 million on November 1, 2024. The company is a manufacturer of ergonomic laboratory equipment intended for life science, clinical, and industrial research applications.

ImmPACT Bio / Lyell Immunopharma: The company was acquired by Lyell Immunopharma for $30 million on October 31, 2024. The company is an operator of a cell therapy business intended to discover transformative chimeric antigen receptor (CAR) T-cell therapies for cancer patients.

Arthrosurface / Phoenix Brio: The company was acquired by Phoenix Brio for $10 million on October 30, 2024. The company is a provider of orthopedic devices intended to provide services related to upper and lower extremity conditions specific to osteoarthritis caused by trauma, injury and progressive arthritic disease.

Aerovate Therapeutics / Jade Biosciences: The company reached a definitive agreement to be acquired by Jade Biosciences through a reverse merger resulting in the combined entity trading on Nasdaq under the ticker symbol “JBIO” on October 31, 2024. Aerovate Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing drugs that treat rare cardiopulmonary disease.

Biofourmis / CopilotIQ: The company was acquired by CopilotIQ for an undisclosed amount on October 31, 2024. The company is a developer of a predictive health analytics platform designed to analyze physiology data from clinical-grade wearables.

CaptionMate / InnoCaption: The company was acquired by InnoCaption for an undisclosed amount on November 1, 2024. The company is a developer of a real-time captioning service for patients with hearing loss.

Everything Seaweed / Macro Oceans: The company was acquired by Macro Oceans for an undisclosed amount on October 28, 2024. The company is a manufacturer of a seaweed nanofiber product intended to replace PFAS coatings on food packaging and polyacrylate texturizers in skincare.

Exactech / TPG: The company entered into a definitive agreement to be acquired by TPG, AustralianSuper and other undisclosed investors through an LBO on October 29, 2024 for an undisclosed amount. The company is a manufacturer of orthopedic implants and surgical devices intended for hospitals and physicians.

GlycoMimetics / Crescent Biopharma: The company reached a definitive agreement to be acquired by Crescent Biopharma through a reverse merger on October 29, 2024. GlycoMimetics is a clinical-stage biotechnology company discovering and developing glycobiology-based therapies for cancers and inflammatory diseases.

Health Monitor Network / Multiple Investors: The company was acquired by Gridiron Capital, WestView Capital Partners, Constitution Capital Partners, Pleasant Bay Capital Partners and its management through an LBO on October 31, 2024 for an undisclosed amount. The company is a developer of a marketing platform for healthcare professionals.

Kynos Therapeutics / Dr Falk Pharma: The company was acquired by Dr Falk Pharma for an undisclosed amount on October 29, 2024. The company is a clinical-stage biotech business developing novel small molecule inhibitors of kynurenine monooxygenase (KMO), as an innovative therapeutic approach for acute and chronic inflammation.

Numa / Quris AI: The company was acquired by Quris AI for an undisclosed amount on November 1, 2024. The company is a manufacturer and developer of in-vitro technological chips and a turn-key platform for organ modeling.

Parcus Medical / Unknown Investor: The company reached a definitive agreement to be acquired for an undisclosed amount on October 31, 2024. The company is a manufacturer of surgical products intended for implants and instrumentation used by orthopedic surgeons in sports medicine procedures.

Sparta Science / Ōura: The company was acquired by Ōura for an undisclosed amount on October 31, 2024. The company is a developer of an artificial intelligence-powered human data platform designed to transform health and performance data into actionable insights.

Strata Health / VitalHub: The company was acquired by VitalHub for up-front consideration of $32.3 million on October 30, 2024. The company is a developer of a patient flow management platform designed to help healthcare professionals match patients to the right resources.