Healthcare Private Placement and M&A Transactions Review Week Ending October 20, 2024

Terray Therapeutics: The company raised $120 million of Series B venture funding in a deal led by NVentures and Bedford Ridge Capital on October 17, 2024, putting the company’s pre-money valuation at $232 million. XTX Ventures, Opiant Pharmaceuticals, What If Ventures, Mana Ventures, Alexandria Venture Investments, Two Sigma Ventures, Digitalis Ventures, Madrona Venture Group, Goldcrest Capital, John Maraganore, Bassil Dahiyat and Maverick Capital also participated in the round. The company is an operator of a biotechnology business intended to provide precise chemical datasets that are designed to accelerate drug discovery.

Elektrofi: The company raised $112.25 million of Series C venture funding from undisclosed investors on October 15, 2024. The company is a developer of a drug delivery platform designed to improve subcutaneous drug administration.

Precision Neuroscience: The company raised $93.1 million of venture funding from undisclosed investors on October 17, 2024. The company is a developer of a brain-computer interface technology designed to provide effective treatments for patients suffering from neurological illnesses.

SpectraWAVE: The company raised $50.3 million of Series B venture funding in a deal led by Johnson & Johnson Innovation – JJDC on October 14, 2024. Nova Ventures Group, Deerfield Management, Lumira Ventures, S3 Ventures, SV Health Investors, and Minogue Consulting also participated in the round. The company is a developer of an intravascular imaging technology designed to improve coronary artery disease outcomes with photonics.

Amplitude Vascular Systems: The company raised $23.7 million of venture funding from undisclosed investors on October 18, 2024. The company is an operator of an early-stage medical device business intended to focus on treating severely calcified arterial disease.

Affini-T: The company raised $17.6 million of venture funding from undisclosed investors on October 14, 2024. The company is an operator of a precision immunotherapy business intended to target core oncogenic driver mutations to develop potentially curative therapies for patients with solid tumors.

Sunbird Bio: The company raised $14 million of venture funding in a deal led by Eli Lilly and Company and EDBI on October 16, 2024. Polaris Partners, ClavystBio and S32 also participated in the round. The company is a developer of a molecular diagnostics platform designed to provide fast and accurate results in diagnostics for neurological diseases.

Cirdan: The company raised GBP 7.5 million of venture funding from Clarendon Fund Managers and 57 Stars on October 15, 2024. The company is a provider of informatics software and imaging solutions that enhance and speed up the diagnosis of patients.

InvIOs: The company raised EUR 8.2 million of Series A venture funding from Ligand Pharmaceuticals and other undisclosed investors on October 15, 2024. The company is focused on the discovery and development of novel therapies for cancer.

Abacus Insights: The company raised $6.3 million of venture funding from undisclosed investors on October 15, 2024. The company is a developer of a data integration platform designed to harness healthcare data.

Confocal: The company received EUR 5 million of development capital from Nascent Ventures and ROM InWest on October 17, 2024. The company is a developer of plug-and-play confocal microscopes.

Nurocor: The company raised an estimated $5.3 million of venture funding through a combination of debt and equity on October 16, 2024, from Frontier Venture Capital and other undisclosed investors. The company is a developer of a cloud-based digitized clinical development platform.

MEDIC Life Sciences: The company raised $5 million of venture funding in a deal led by Hanmi Pharmaceutical and LG on October 14, 2024. The company is a developer of a drug discovery platform designed to provide synergistic drug combinations for cancer treatment.

DifferentKind: The company raised an undisclosed amount of venture funding from Fireroad on October 15, 2024. The company is a developer of a patient-focused digital platform tailored to dental care.

Longboard Pharmaceuticals / H. Lundbeck: The company reached a definitive agreement to be acquired by H. Lundbeck for approximately $2.5 billion on October 14, 2024. Longboard Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases.

Epiconcept / Softway Medical: The company entered into a definitive agreement to be acquired by Softway Medical, via its financial sponsor Five Arrows Principal Investments, through an LBO on October 15, 2024 for an undisclosed amount. The company is a developer of an online platform designed to provide digital solutions for e-health, data sciences, and epidemiology as applied to public health.

Eyetamins / Optase: The company was acquired by Optase for an undisclosed amount on October 17, 2024. The company is an operator of a healthcare technology and life sciences business intended to focus on therapeutics and consumer health innovations in the eye care space.

Kintara Therapeutics / TuHURA Biosciences: The company was acquired by TuHURA Biosciences  through a reverse merger, resulting in the combined entity trading on the Nasdaq stock exchange under ticker symbol HURA on October 17, 2024. Kintara Therapeutics Inc is engaged in the development of novel cancer therapies for patients with unmet medical needs.

Kyval / Codex IT: The company was acquired by Codex IT for an undisclosed amount on October 17, 2024. The company is a developer of data migration software catering to the healthcare sector.

Lumirise / GFA Company: The company reached a definitive agreement to be acquired by GFA Company for an undisclosed amount on October 18, 2024. The company is an operator of a regenerative medicine research business based in Tokyo, Japan.

NAYA Biosciences / Invo Bioscience: The company acquired Invo Bioscience through a reverse merger, resulting in the combined entity trading on the NASDAQ Stock Exchange under the ticker symbol NAYA on October 14, 2024. The company is an operator of a biotechnology business dedicated to increasing patient access to treatments in oncology, fertility, and regenerative medicine.

Suneva Medical / Tiger Aesthetics Medical: The company was acquired by Tiger Aesthetics Medical, a subsidiary of Tiger BioSciences, for an undisclosed amount on October 17, 2024. The company is a developer, manufacturer, and seller of regenerative aesthetic products.

XSTO Solutions / NutriScience Innovations: The company was acquired by NutriScience Innovations, via its financial sponsor Tilia Holdings, through an LBO on October 18, 2024 for an undisclosed amount. The company is a provider of nutritional ingredients and services to the functional food and dietary supplement markets.