Healthcare Private Placement and M&A Transactions Review Week Ending September 10, 2023

Apollo Therapeutics: The company raised $226.5 million of Series C venture funding in a deal led by Patient Square Capital on September 6, 2023. Rock Springs Capital and M&G also participated in the round. The company is an operator of a biopharmaceutical business with a diversified clinical-stage portfolio of assets focused on high-value markets.  The company has over 20 programs in its core areas of biological focus – cell signaling, cell stress response and immunology.

Nimbus Therapeutics: The company raised $210 million of venture funding in a deal led by GV, Atlas Venture and SR One Capital Management on September 6, 2023. Pfizer Ventures, Bain Capital Life Sciences, Gates Frontier, SV Health Investors, Lightstone Ventures, RA Capital Management and BVF Partners also participated in the round. The company is a developer of small molecule compounds designed to target drivers of pathology in highly prevalent human diseases of immunology, oncology and metabolism.

Mariana Oncology: The company raised $175 million of Series B venture funding in a deal led by Deep Track Capital and Forbion on September 7, 2023. Access Biotechnology, Eli Lilly, Atlas Venture, Nextech Invest, Surveyor Capital and RA Capital Management also participated in the round. The company is an operator of a radiopharmaceutical company intended to discover and develop safe, effective, and highly targeted radiopharmaceuticals.

Inceptive Nucleics: The company raised $100 million of venture funding from NVentures, Andreessen Horowitz, Obvious Ventures and other undisclosed investors on September 7, 2023. The company uses artificial intelligence to design novel biological molecules for vaccines, therapeutics, and other treatments.

Corteria Pharmaceuticals: The company raised EUR 65 million of Series A venture funding in a deal led by Jeito and OrbiMed on September 7, 2023. Omnes Capital, Invivo Capital, Fountain Healthcare Partners, Kurma Partners and V-Bio Ventures also participated in the round. The company is developing drugs for indications of high unmet medical need, such as worsening and acute heart failure, right heart failure, sarcopenia, and obesity with established complications.

Tentarix Biotherapeutics: The company raised $35 million of Series B venture funding in a deal led by Amplitude Ventures on September 6, 2023. Gilead Sciences, Samsara BioCapital and Versant Ventures also participated in the round. The company is an operator of a protein therapeutics business intended to address cancer, autoimmune, and other diseases with biologics that include growth factors, cytokines, and morphogens.

Imvax: The company closed on an undisclosed amount of a planned $23 million of venture funding on September 6, 2023. The company is a developer of patient-specific vaccines and immunotherapy strategies designed for the treatment of malignant gliomas and other cancers with unmet medical needs.

Pixee Medical: The company raised Series B venture funding on September 4, 2023. The company is an operator of a medical technology business intended to develop computer-assisted surgical solutions using advanced computer vision and artificial intelligence technologies.

Zenas: The company is in the process of raising venture funding from Bristol-Myers Squibb on September 5, 2023. The company is a developer of an immune-based therapy platform designed to target autoimmune diseases.

NextGen Healthcare / Thoma Bravo: The company entered into a definitive agreement to be acquired by Thoma Bravo through a $1.8 billion public-to-private LBO on September 6, 2023. NextGen Healthcare Inc provides electronic health records and other services to ambulatory care providers in the United States.

Ergomed / Permira: The company entered into a definitive agreement to be acquired by Permira through an estimated GBP 703 million public-to-private LBO on September 4, 2023. Ergomed PLC is engaged in the provision of drug development services to the pharmaceutical industry.

Surface Oncology / Coherus Biosciences: The company was acquired by Coherus Biosciences for $65 million on September 8, 2023. Surface Oncology Inc is a clinical-stage immuno-oncology company developing new therapies that modify the spaces in and around tumors in the tumor microenvironment to create conditions that support and sustain anti-tumor immune responses.

Nestlé / Stallergenes Greer: The peanut allergy business of Nestlé was acquired by Stallergenes Greer, via its financial sponsor B-FLEXION, through an LBO on September 4, 2023 for an undisclosed amount. The company is a manufacturer of peanut allergy medicine intended for children.

Tramontane Therapeutics / Kriya Therapeutics: The company was acquired by Kriya Therapeutics for an undisclosed amount on September 6, 2023. The company offers investigational gene therapies for neurodegenerative diseases.