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

Kailera Therapeutics: The company is in the process of raising $600 million of an undisclosed targeted amount of Series B venture funding in a deal led by Bain Capital on October 14, 2025. Bain Capital Life Sciences, Canada Post Pension Plan, Sirona, Royalty Pharma, The Invus Group, Atlas Venture, RTW Investments, Adage Capital Management, Janus Henderson Investors, Perseverance Capital Management, Qatar Investment Authority and Surveyor Capital also participated in the round. The company is an operator of a biopharmaceutical business intended to deliver differentiated treatment options for obesity and related conditions.

Tubulis: The company raised $361 million of Series C venture funding in a deal led by Venrock on October 15, 2025. Andera Partners, Frazier Healthcare Partners, Ascenta Capital, Fund+, EQT Life Sciences, Nextech Invest, Deep Track Capital, High-Tech Gründerfonds, Seventure Partners, Bayern Kapital, OCCIDENT and Wellington Management also participated in the round. The company is a developer of chemotherapeutic drugs designed to fight cancer and chronic diseases.

Kardigan: The company raised $254 million of Series B venture funding from Sequoia Heritage, ARCH Venture Partners, and Fidelity Management & Research Company on October 14, 2025. T. Rowe Price Group also participated in the round. The company is a developer of cardiovascular therapeutics and drug discovery platforms for heart disease treatment.

HistoSonics: The company received $250 million of development capital from Thiel Bio, Founders Fund and other investors on October 16, 2025. The company is a developer of robotically-assisted ultrasound technology for non-invasive tissue ablation and tumor destruction.

VeraDermics: The company raised $150 million of Series C venture funding in a deal led by SR One Capital Management on October 16, 2025, putting the company’s pre-money valuation at $140 million. LifeSci Venture Partners, The Invus Group, Infinitium (VC), Longitude Capital, Surveyor Capital, Viking Global Investors, Marshall Wace, Suvretta Capital Management, Columbia Management and Aberdeen Investments (Scotland) also participated in the round. The company is a developer of aesthetics and dermatology-focused drugs intended to address common dermatologic conditions.

Adcytherix: The company raised EUR 105 million of Series A venture funding in a deal led by Angelini Ventures, Andera Partners, Bpifrance and Kurma Partners on October 16, 2025. Dawn Biopharma, Pontifax Venture Capital, Pureos Bioventures, RA Capital Management, aMoon Fund and Surveyor Capital also participated in the round. The company is a developer of an antibody-drug conjugate platform designed to address resistance and improve safety in cancer therapy through novel payload innovation.

Pelage: The company raised $120 million of Series B venture funding in a deal led by GV and ARCH Venture Partners on October 15, 2025, putting the company’s pre-money valuation at $203 million. Main Street Advisors, Visionary Venture Fund and YK Bioventures also participated in the round. The company is a developer of small molecule therapeutics targeting hair follicle stem cell metabolism for treating androgenetic alopecia and hair loss.

Peptilogics: The company raised $78 million of Series B venture funding in a deal led by Presight Capital, Founders Fund and Thiel Bio on October 16, 2025. Narya, Beyond Ventures and AMR Action Fund also participated in the round. The company is a developer of a novel peptide therapeutic drug discovery platform designed to treat multidrug-resistant bacterial infections.

Tr1x: The company raised $50 million of venture funding from undisclosed investors on October 15, 2025. The company is a developer of a regulatory T cell-based therapy platform designed to treat autoimmune and inflammatory diseases by restoring immune tolerance.

Step Pharma: The company raised EUR 38 million of Series C venture funding in a deal led by V-Bio Ventures on October 15, 2025. Kurma Partners, Pontifax Venture Capital, Hadean Ventures, Inserm Transfert and Sunstone Life Science Ventures also participated in the round. The company is a developer of proprietary small molecule therapeutics designed for the treatment of auto-immune diseases.

Intelligent Locations: The company raised an estimated $35 million of Series A venture funding from Marlin Equity Partners, First Analysis and other undisclosed investors on October 14, 2025, putting the company’s pre-money valuation at $45 million. The company is a developer of an artificial intelligence-embedded tracking technology designed to provide data insights for healthcare organizations.

BridGene Biosciences: The company raised $28 million of Series B venture funding in a deal led by Bayland Capital and Kangjun Capital on October 16, 2025. Pangu Venture, Lapam Capital, Shenzhen GTJA Investment Group, Proxima Investments and Grains Valley Venture Capital also participated in the round. The company is a developer of chemoproteomics-based drug discovery platforms targeting previously undruggable proteins for therapeutic development.

Brook: The company raised $28 million of Series B venture funding in a deal led by Morningside Group and UMass Memorial Health Care on October 16, 2025. Other undisclosed investors also participated in the round. The company is a developer of digital chronic disease management programs combining remote monitoring, coaching, and care coordination for diabetes and metabolic conditions.

Pheast Therapeutics: The company raised $24.6 million of venture funding from undisclosed investors on October 15, 2025. The company is a provider of macrophage-targeted immunotherapies intended for cancer treatment.

Sage Care: The company raised $20 million of venture funding in a deal led by Yosemite on October 17, 2025, putting the company’s pre-money valuation at $70 million. Metrodora, SV Angel, Liquid 2 Ventures, Seven Stars Ventures, refract ventures, AME Cloud Ventures, Apollo Ono, OVTR VC and General Catalyst also participated in the round. The company is a developer of an artificial intelligence-powered healthcare navigation software that matches patients with appropriate specialists and care providers.

Weave: The company raised $20 million of Series A venture funding in a deal led by U.S. Venture Partners on October 16, 2025. Innovation Endeavors, Magnetic Ventures, TMV (Trail Mix Ventures), Character, and Serrado Capital also participated in the round. The company is a developer of an artificial intelligence-powered software for automating regulatory submissions and clinical trial documentation.

Mission Therapeutics: The company raised $13.3 million of venture funding in a deal led by Roche Venture Fund, Sofinnova Partners, SR One Capital Management, Rosetta Capital, Pfizer Ventures and IP Group on October 15, 2025. The company is an operator of a pharmaceutical research and drug discovery business intended to facilitate the development of advanced medical treatments.

EVerZom: The company raised EUR 10 million of venture funding from Capital Grand Est, Sorbonne Venture and European Innovation Council on October 14, 2025, putting the company’s pre-money valuation at an estimated EUR 13.5 million. Paris Business Angels, Capital Cell and other undisclosed investors also participated in the round. The company is a developer of a regenerative biologics treatment designed for tissue healing and organ restoration.

Smartlens: The company raised $5.2 million of venture funding in a deal led by Ambit Health Ventures on October 14, 2025. Boutique Venture Partners, Graphene Ventures, and HBS Alumni Angels of Greater New York also participated in the round. The company is a developer of a wearable device intended to prevent the progression of glaucoma and irreversible blindness.

ARC Medical: The company closed on $5 million of an undisclosed targeted amount of venture funding from Lumina Growth Partners and other undisclosed investors on October 16, 2025, putting the company’s pre-money valuation at $45 million. The company is a manufacturer of clinical therapeutic equipment designed to reduce surgical adhesions in humans.

BlueWhale Bio: The company raised $5 million of venture funding from undisclosed investors on October 16, 2025. The company is a developer of a cell therapy manufacturing platform and bioprocessing technology for scaling gene therapy production.

TachyHealth: The company raised $5 million of Series A venture funding in a deal led by The Company for Cooperative Insurance on October 14, 2025. Other undisclosed investors also participated in the round. The company is a developer of an artificial intelligence-powered healthcare analytics software for value-based care contracting and provider-payer integration.

Clinware: The company raised $4.25 million of venture funding from undisclosed investors on October 14, 2025. The company is a developer of healthcare automation software designed for streamlining clinical and financial workflows.

SMSbiotech: The company is in the process of raising venture funding on October 15, 2025. The company is a developer of a patented stem cell therapy designed to advance regenerative medicine through a novel class of human allogeneic adult stem cells.


M&A Transactions

Astria Therapeutics / BioCryst Pharmaceuticals: The company reached a definitive agreement to be acquired by BioCryst Pharmaceuticals for $700 million on October 14, 2025. Astria Therapeutics Inc is a biopharmaceutical company developing therapeutics for rare allergic and immunological diseases including hereditary angioedema.

Nalu Medical / Boston Scientific: The company reached a definitive agreement to be acquired by Boston Scientific for an estimated $533 million on October 17, 2025. The company is a developer of a neurostimulation implant designed to provide long-term relief for patients with intractable chronic nerve pain.

Aculys / Viatris: The company was acquired by Viatris for an undisclosed amount on October 15, 2025. The company is an operator of a clinical-stage biopharmaceutical business developing therapeutics for neurological and psychiatric disorders in the Japanese market.

Happypillar / Manatee: The company was acquired by Manatee for an undisclosed amount on October 17, 2025. The company is a developer of digital mental health applications providing therapy and support resources for families and children.

Ikerian / EssilorLuxottica: The company was acquired by EssilorLuxottica, a subsidiary of EssilorLuxottica Société, for an undisclosed amount on October 15, 2025. The company is a developer of an ophthalmology intelligence platform designed to accelerate clinic, research, and pharmaceutical workflows.

Panda Health / AVIA: The company was acquired by AVIA for an undisclosed amount on October 15, 2025. The company is an operator of a digital health marketplace platform that evaluates and recommends digital therapeutics and health applications.

Phare Health / R1 RCM: The company reached a definitive agreement to be acquired by R1 RCM, via its financial sponsors TowerBrook Capital Partners, Khosla Ventures and Clayton, Dubilier & Rice, through an LBO on October 14, 2025 for an undisclosed amount. The company is a developer of an artificial intelligence-powered clinical documentation software that captures and codes patient care data for hospital billing.

Renaissance Lakewood / LTS Lohmann Therapie-Systeme: The company entered into a definitive agreement to be acquired by LTS Lohmann Therapie-Systeme, via its financial sponsor Dievini, through LBO on October 13, 2025 for an undisclosed amount. The company is a manufacturer of nasal spray drug delivery systems and provides formulation development and stability testing services.

Renee / Cairns Health: The company was acquired by Cairns Health for an undisclosed amount on October 17, 2025. The company is a developer of artificial intelligence-driven digital health assistants that automate patient communication and healthcare administrative tasks.

ZepMed / Cortechs.ai: The company was acquired by Cortechs.ai for an undisclosed amount on October 14, 2025. The company is a developer of artificial intelligence-powered medical imaging analysis and clinical decision support software for healthcare providers.


Source: Pitchbook Data, Inc.

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