Healthcare Private Placement and M&A Transactions Review Week Ending October 26, 2025

OpenEvidence: The company raised $200 million of Series C venture funding in a deal led by GV on October 20, 2025, putting the company’s pre-money valuation at $5.8 billion. Coatue Management, Blackstone, BOND Capital, Thrive Capital, Sequoia Capital, Kleiner Perkins and Craft Ventures also participated in the round. The company is a developer of an AI-powered medical knowledge platform that aggregates, synthesizes, and provides access to clinical research and medical literature for healthcare professionals.

Electra Therapeutics: The company raised $183 million of Series C venture funding in a deal led by Nextech Invest and EQT Life Sciences on October 22, 2025, putting the company’s pre-money valuation at $296 million. Sanofi Ventures, OrbiMed, Redmile Group, Cormorant Asset Management, RA Capital Management, New Leaf Venture, HBM Healthcare Investments, Westlake Village BioPartners, Mubadala Capital and other undisclosed investors also participated in the round. The company is an operator of a biotechnology business intended for the treatment of immunological diseases and cancer.

CoMind: The company raised $102.5 million of venture funding in a deal led by Plural VC on October 20, 2025. Angelini Ventures, Latitude, Octopus Ventures, Phoenix Court, Backed VC, Entrepreneurs First, Lord David Prior, Approx.vc, Crane Investment Company, Plural Platform and other undisclosed investors also participated in the round. The company is a developer of a brain-computer interface technology and neural sensing systems for human-machine interaction applications.

Hyro: The company raised $45 million of Series B venture funding in a deal led by Healthier Capital on October 21, 2025, putting the company’s pre-money valuation at $199.5 million. Bon Secours Mercy Health, ServiceNow Ventures, Norwest, Define Ventures, and other undisclosed investors also participated in the round. The company is a developer of conversational artificial intelligence software that automates patient communication and healthcare call center operations.

NewLimit: The company raised $45 million of venture funding from Eli Lilly, Boost VC, Section 32 and Kleiner Perkins on October 20, 2025, putting the company’s pre-money valuation at $1.56 billion. Dimension (United States), Human Capital, Abstract Ventures and DUMAC (Durham) also participated in the round. The company is a developer of precision medicines designed for epigenetic reprogramming to restore youthful function in aging cells.

MarvelBiome: The company raised $39.5 million of venture funding from undisclosed investors on October 22, 2025. The company is an operator of a biopharmaceutical technology business intended to develop microbiome-based therapeutics using engineered bacteria for treating human diseases.

Elucid Bioimaging: The company raised $36.5 million of venture funding from undisclosed investors on October 22, 2025. The company is a developer of an artificial intelligence-powered medical imaging analysis software for cardiovascular disease diagnosis and risk assessment.

ReCode Therapeutics: The company raised $31 million of venture funding in the form of convertible debt from ABRDN Emerging Markets Equity Income and Cystic Fibrosis Foundation on October 23, 2025. The company is a developer of precision genetic medicine delivery systems for treating rare genetic diseases.

Valthos: The company raised $30 million of venture funding from OpenAI, Founders Fund, Definition and Lux Capital on October 24, 2025. The company is a developer of biological intelligence platforms using artificial intelligence to detect and counter emerging biosecurity threats and pandemics.

Faeth: The company raised $25 million of Series A venture funding in a deal led by S2G Investments on October 20, 2025, putting the company’s pre-money valuation at $26 million. KdT Ventures, Khosla Ventures, Future Ventures (San Francisco), Cantos Ventures, Digitalis Ventures, B Capital Group, Avicella Capital, THO Seed Fund, and other undisclosed investors also participated in the round. The company is a developer of precision nutrition therapies based on cancer metabolism research for oncology treatment support.

Catalyst OrthoScience: The company raised $15 million of Series G venture through combination of debt and equity in a deal led by RC Capital on October 22, 2025. Mutual Capital Partners, Derace Schaffer, and Western Alliance Bank also participated in the round. The company is a developer of minimally invasive shoulder arthroplasty systems and orthopedic surgical devices.

Vergent Bioscience: The company raised $18.6 million of Series C venture funding from undisclosed investors on October 20, 2025, putting the company’s pre-money valuation at $56.33 million. The company is a developer of molecular imaging probes designed for the diagnosis and removal of cancer cells.

Corner Therapeutics: The company raised $16.8 million of venture funding in the form of convertible notes from undisclosed investors on October 20, 2025. The company is a developer of T cell immunotherapies that generate durable memory T cell responses for long-lasting immunity against diseases.

Valink Therapeutics: The company raised $11.8 million of venture funding in a deal led by Redalpine on October 20, 2025. RV Invest, P53, LongeVC, Oxford Science Enterprises, Hoxton Ventures, and other undisclosed investors also participated in the round. The company is a developer of a modular protein platform designed to facilitate the scalable discovery of bi-specific biologics.

Agitated Solutions: The company raised $6.5 million of venture funding from undisclosed investors on October 22, 2025. The company is a developer of advanced ultrasound imaging technology intended to enhance clinical outcomes and diagnostic efficiency.

Burl Concepts: The company raised $4.5 million of venture funding in a deal led by James Brailean on October 21, 2025. K&K Vision and Acquipharma Holdings also participated in the round. The company is a developer of portable ultrasound devices for pre-hospital stroke detection and emergency medical diagnostics.

EpiBone: The company raised $4.3 million of venture funding from Impact Assets on October 24, 2025. The company is a developer of patient-specific bone grafts using tissue engineering and three-dimensional bioprinting for skeletal reconstruction.

Auxilium Biotechnologies: The company raised $3.5 million of venture funding from undisclosed investors on October 23, 2025. The company is an operator of a biotechnology business intended to help treat traumatic injuries of the nervous system.

Exeliom Biosciences: The company raised EUR 2.85 million of Series A venture funding in a deal led by Biocodex on October 21, 2025. UI Investissement, Forepont Capital Partners and CresVentures also participated in the round. The company is a developer of microbiome-derived immunotherapies that harness gut bacteria for therapeutic applications.

Mosaic Therapeutics: The company is in the process of raising Series B venture funding from undisclosed investors on October 20, 2025. The company is an operator of an oncology therapeutics business intended to treat cancers with substantial unmet needs.

Psylaris: The company raised an undisclosed amount of venture funding from LIOF Nedermaas High Tech Ventures, CbusineZ and Brightlands Venture Partners on October 22, 2025. Coöperatieve INZET I U.A. also participated in the round. The company is a developer of virtual reality-based therapeutic applications for treating post-traumatic stress disorder, anxiety, and trauma-related mental health conditions.

Sonus Microsystems: The company raised an undisclosed amount of venture funding from Providence Health Care Ventures, Supernode and Xavaav Capital on October 23, 2025. Other undisclosed investors also participated in this round. The company is a developer of a wearable cardiac ultrasound imaging technology device designed for remote monitoring and diagnostics.

Trevarx Biomedical: The company is in the process of raising venture funding on October 24, 2025. The company is a developer of a radiopharmaceutical platform designed to identify and treat cancers through targeted delivery of radioactive therapies.

Zag Bio: The company raised an undisclosed amount of venture funding from AbbVie Ventures, Boxer Capital and Macroscopic Ventures in August 2025. Exitfund and Lightspeed Ventures also participated in the round. The company is an operator of a therapeutic platform intended to offer precise medicines for immune-mediated diseases.

Hologic / Blackstone: The company entered into a definitive agreement to be acquired by Blackstone, TPG, Abu Dhabi Investment Authority and GIC Private through an estimated $18.3 billion public-to-private LBO on October 21, 2025. Hologic manufactures diagnostic imaging systems, surgical devices, and women’s health medical technologies including mammography and diagnostic testing products.

Avidity Biosciences / Novartis: The company reached a definitive agreement to be acquired by Novartis for $12 billion on October 26, 2025. Avidity Biosciences Inc is a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates, or AOCs.

Avadel Pharmaceuticals / Alkermes: The company reached a definitive agreement to be acquired by Alkermes for $2.1 billion on October 22, 2025. Avadel Pharmaceuticals PLC is a specialty pharmaceutical company developing and commercializing therapies for sleep disorders and other neurological conditions.

Adverum Biotechnologies / Eli Lilly: The company reached a definitive agreement to be acquired by Eli Lilly for an undisclosed amount on October 24, 2025. Adverum Biotechnologies Inc is a clinical-stage gene therapy company developing adeno-associated virus (AAV) therapies for ocular diseases including diabetic macular edema.

ImCheck Therapeutics / Ipsen: The company reached a definitive agreement to be acquired by Ipsen for up to EUR 1.0 billion as of October 22, 2025. The company is a developer of immune checkpoint modulatory antibodies for cancer immunotherapy and immune-related disease applications.

Toku / Topcon Healthcare Solutions: The company was acquired by Topcon Healthcare Solutions for an undisclosed amount on October 20, 2025. The company is a developer of artificial intelligence-powered diagnostic tools that analyze retinal images to detect cardiovascular disease, chronic kidney disease, and other systemic health conditions.

Wilmington PharmaTech Company / Curewell Capital: The company was acquired by Curewell Capital through an LBO on October 21, 2025 for an undisclosed amount. The company is a provider of contract research, development, and manufacturing services for pharmaceutical and biotechnology drug development.