Healthcare Private Placement and M&A Transactions Review Week Ending October 27, 2024

Seaport Therapeutics: The company raised $225 million of Series B venture funding in a deal led by General Atlantic, Arch Venture Partners, and Sofinnova Investments on October 21, 2024, putting the company’s pre-money valuation at $515 million. Foresite Capital, The Invus Group, ARCH Venture Partners, Sofinnova Investments, 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 company intended to develop novel neuropsychiatric medicines in areas of high unmet patient needs.

Alpha-9 Oncology: The company raised $175 million of Series C venture funding in a deal led by Lightspeed Venture Partners and Ascenta Capital on October 23, 2024. Delos Capital, Longitude Capital, Nextech Invest, Samsara BioCapital, Andreessen Horowitz, RA Capital Management, Digitalis Ventures, General Catalyst, Lumira Ventures, Frazier Lifesciences Acquisition, Janus Henderson Investors, BVF Partners and Abrdn also participated in the round. The company is an operator of a radiopharmaceutical business intended to improve the diagnosis and treatment of metastatic cancer.

AvenCell: The company raised $112 million of Series B venture funding in a deal led by Novo Holdings on October 22, 2024. Eight Roads, NYBC Ventures, Blackstone Life Sciences, F-Prime Capital and Piper Sandler also participated in the round. The company is a developer of T cell-based immunotherapies intended to support cancer treatment.

AgomAb: The company raised EUR 89 million of Series D venture funding led by Sanofi, The Invus Group and Asabys Partners on October 25, 2024. The company is a developer of agonistic antibodies designed to help in the regeneration of damaged tissues.

Jade Biosciences: The company raised $95 million of venture funding in a deal led by Venrock and Fairmount Partners on October 24, 2024. Driehaus Capital Management, Frazier Healthcare Partners, Versant Ventures, Deep Track Capital, Franklin Templeton, RTW Investments and Braidwell also participated in the round. The company is an operator of a biotechnology company intended to develop therapies for patients living with autoimmune diseases.

Infinitus Systems: The company raised $51.5 million of Series C venture funding in a deal led by Andreessen Horowitz on October 23, 2024, putting the company’s pre-money valuation at $500 million. GV, Memorial Hermann, Coatue Management, Kleiner Perkins, and other undisclosed investors also participated in the round. The company is a developer of an AI-powered healthcare communication automation tool.

Rad AI: The company raised $51 million in Series B venture funding in a deal led by Khosla Ventures on October 22, 2024, putting the company’s pre-money valuation at $222.5 million. Gradient Ventures, Kickstart Fund, OCV Partners, ARTIS Ventures, Santa Barbara Venture Partners, Hyperlink Ventures, Alpha Partners, Esplanade Healthtech Ventures, Calm Ventures, Gaingels and WiL also participated in the round. The company is a developer of an AI-powered automated report generation platform for radiologists.

Epitopea: The company raised $31 million of venture funding from adMare Bioinnovations, IRICoR, and Investissement Québec on October 24, 2024. Fonds de solidarite FTQ, Novateur Ventures, Cambridge Innovation Capital, Advent Life Sciences, CTI Life Sciences Fund, Jonathan Milner, and Harrington Discovery Institute/University Health Holdings also participated in the round. The company is a developer of transatlantic cancer immunotherapeutics designed to target a novel class of tumor-specific antigens.

Lakewood-Amedex: The company is in process of raising $30 million of venture funding as of October 21, 2024. The company is a developer of anti-infectives designed to treat pathogens locally at the site of infection.

March Biosciences: The company raised an additional $28.4 million of Series A venture funding in a deal led by Mission BioCapital and 4BIO Capital on October 23, 2024, putting the company’s pre-money valuation at $18.6 million. Volnay Therapeutics, Mansueto Investments, Small Ventures USA, Alexandria Venture Investments, Modi Ventures, Portal Innovations, Cancer Focus Fund, Texas Medical Center and KdT Ventures also participated in the round. The company is a developer of a cell therapy designed for hematological cancers.

Immunis: The company raised $20.4 million of venture funding from undisclosed investors on October 24, 2024. The company is a developer of stem cell-derived therapy designed to treat age and disease-related immune decline.

OncoLens: The company raised $16 million through the combination of debt and Series B venture funding in a deal led by BIP Ventures and Cross Border Impact Ventures on October 24, 2024, putting the company’s pre-money valuation at $39 million. Martin Ventures, SeedToB Capital, and other undisclosed investors also participated in the round. The company is an AI-powered oncology care platform that delivers multidisciplinary team collaboration, analytics and clinical decision support tools.

Transition Bio: The company raised $13.3 million of venture funding from undisclosed investors on October 24, 2024. The company is an operator of a biotechnology business intended to build a hypothesis-free drug discovery and diagnostics platform.

Pip Care: The company raised $5 million in Series A venture funding in a deal led by A1 Health Ventures on October 21, 2024. UPMC Enterprises and Redesign Health also participated in the round. The company is an operator of a health care application intended to help patients prepare and recover from surgery.

Dyania Health: The company raised $10 million of Series A venture funding in a deal led by HealthX Ventures on October 24, 2024. Cleveland Clinic Ventures, Tech Square Ventures and other undisclosed investors also participated in the round. The company is a developer of an AI-powered clinical research platform.

Hubble Therapeutics: The company raised $9.8 million of venture funding from undisclosed investors on October 21, 2024. The company is a developer of a gene therapy platform intended for a rare genetic eye disorder that typically presents with severe progressive visual impairment beginning in infancy.

Ikarovec: The company raised EUR 8 million of venture funding in a deal led by Parkwalk Advisors and LifeArc Ventures on October 23, 2024. UK Innovation & Science Seed Fund also participated in the round. The company is an operator of a gene therapy business intended to treat common eye diseases.

FlightPath: The company raised $8 million of Series A venture funding from Invest Detroit Ventures, Michigan Rise and Ann Arbor SPARK on October 23, 2024, putting the company’s pre-money valuation at $11 million. Northern Michigan Angels also participated in the round. The company is a developer of antibiotic therapies designed to treat pathogen-driven diseases.

CircumFix Solutions: The company raised $5 million of Series A venture funding from undisclosed investors on October 23, 2024. The company is a provider of implantable devices intended to facilitate optimal healing of musculoskeletal injuries.

Abstractive Health: The company raised an undisclosed amount of venture funding in a deal led by Rho Capital Partners on October 22, 2024. Healwell AI, Pear (California) and Cornell University also participated in the round. The company is a developer of an automated summary platform designed to assist physicians in the EHR by condensing all of the relevant information about a patient’s health.

iLoF: The company raised an undisclosed amount of venture funding from Hamamatsu Corporate Venture Capital on October 22, 2024. The company is a developer of an artificial intelligence-powered digital health platform designed to accelerate personalized drug discovery and development.

Indomo: The company raised an undisclosed amount of venture funding in a deal led by Mana Ventures on October 21, 2024. Form, Gaingels, Myelin VC, StoryHouse Ventures, Polaris Partners and Atomic Labs also participated in the round. The company is a developer of acne care therapeutics intended to provide quality healthcare via innovative device-enabled therapeutics.

Lōvu: The company raised an undisclosed amount of venture funding from Symphonic Capital in October 2024. The company is a developer of an AI-powered digital maternal health platform.

Voxela: The company raised an undisclosed amount of pre-series A venture funding from Basepartners, BEENEXT Capital Management, Archetype Ventures and Safie on October 21, 2024. The company is a developer of AI care management services for senior care facilities.

Sharecare / Altaris: The company was acquired by Altaris Capital Partners through a $540 million public-to-private LBO on October 22, 2024. Sharecare Inc is a digital healthcare platform company that helps members consolidate and manage various components of their health in one place.

Lumos Pharma / Double Point Ventures: The company entered into a definitive agreement to be acquired by Double Point Ventures through a $38 million LBO on October 22, 2024. Lumos Pharma Inc is a biopharmaceutical company that develops treatments for cancer and rare diseases.

ImmPACT Bio / Lyell Immunopharma: The company reached a definitive agreement to be acquired by Lyell Immunopharma for $30 million on October 24, 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.

Modifi Bio / Merck: The company was acquired by Merck for $30 million upfront on October 23, 2024, with an additional $1.3 billion to be potentially paid in additional milestone amounts. The company is a developer of a oncology therapeutics platform intended to exploit DNA defects in a wide range of cancer cells.

AntlerA / Roche: The company was acquired by Roche for $850 million on October 23, 2024. The company is a developer of a protein engineering platform designed to develop drugs that address large unmet needs in the regenerative medicine area.

CareBridge / Elevance Health: The company reached a definitive agreement to be acquired by Elevance Health for an estimated $2.7 billion on October 21, 2024. The company is an operator of a value-based healthcare business intended to assist states and health plans in caring for individuals receiving home and community-based services.

Medical Magnesium / KLS Martin Group: The company was acquired by KLS Martin Group for an undisclosed amount on October 24, 2024. The company is a developer of bioabsorbable implant technology designed to replace traditional surgical implants.

Opus Genetics / Ocuphire Pharma: The company was acquired by Ocuphire Pharma for an undisclosed amount on October 22, 2024. The company is a provider of a gene therapy intended to treat rare retinal degenerative diseases.

Phenocell / Axol: The company was acquired by Axol, a subsidiary of Censo Biotechnologies, for an undisclosed amount on October 21, 2024. The company is a provider of research-based outsourcing services intended for the dermo-cosmetic and ophthalmology areas.

Pyros / Bora Pharmaceuticals: The company was acquired by Bora Pharmaceuticals for an undisclosed amount on October 25, 2024. The company is a developer of pharmaceutical products, including proprietary and off-patent pharmaceuticals.

StaffGarden / Ascend Learning: The company was acquired by Ascend Learning, via its financial sponsors CPP Investments and Blackstone, through an LBO on October 22, 2024 for an undisclosed amount. The company is a developer of a digital enterprise platform designed for professional development and competency management.

Stratix Labs / The US Pharmacopeial Convention: The company was acquired by The United States Pharmacopeial Convention for an undisclosed amount on October 21, 2024. The company is a developer of microbiology products designed for research, development, and quality control applications.