Strategy | Financing Highlight

Private Placement / Financing Transactions

JenaValve Technology: The company received $100 million of development capital from Bain Capital Life Sciences, Peijia Medical, Gimv, Andera Partners, RMM Ventures, Valiance, VI Partners, Cormorant Asset Management, Pictet, Qatar Investment Authority and Innovatus Capital Partners on August 31, 2022. The company is a developer of transcatheter heart valve replacement systems designed to treat severe, symptomatic aortic regurgitation and stenosis.

Photys: The company raised $75 million of Series A venture funding in a deal led by MPM Capital on September 8, 2022. The company is a developer of bifunctional drugs designed for phosphorylation of kinases, and potentially phosphatases.

Upfront: The company raised $72.0 million of Series C venture funding in a deal led by Baird Capital, First Trust Capital Partners and Echo Health Ventures on September 6, 2022. The company is a developer of a patient navigation platform designed to book virtual or in-person care.

Inspirna: The company raised $55 million of Series D venture funding in a deal led by Sands Capital and Vivo Capital on August 29, 2022, putting the company’s pre-money valuation at $65 million. The company is a developer of novel cancer drugs designed to target key pathways in cancer progression.

MedGenome: The company received $50 million of development capital from Novo Holdings, Sofina and Leapfrog Investments on August 30, 2022. The company is a developer of sequencing genomics-based diagnostics and research platform intended to improve global health.

Vilya: The company raised $50 million in funding in a deal led by ARCH Venture Partners on August 29, 2022, putting the company’s pre-money valuation at $63 million. The company is a developer of a biotechnology platform designed for creating a novel class of medicines to precisely target disease biology.

Elephas: The company raised $41.5 million of Series B venture funding in a deal led by ARCH Venture Partners on September 6, 2022, putting the company’s pre-money valuation at $104 million. The company is an operator of a live tumor imaging diagnostics company intended to help determine the cancer therapy for each patient.

Antheia: The company raised $40 million of venture funding from undisclosed investors on August 31, 2022. The company is an operator of a biotechnology business intended to develop plant-inspired medicines.

Medivis: The company raised $22.0 million of venture funding from undisclosed investors on September 6, 2022. The company is a developer of a medical imaging technology designed to utilize augmented reality for surgical operations.

98point6: The company raised $20 million of venture funding in form of convertible notes from L Catterton and Activant Capital on September 1, 2022. The company is a developer of an on-demand text-based primary care platform designed to make healthcare accessible and affordable to everyone.

Pleco Therapeutics: The company raised EUR 17.3 million of Series A venture funding from Hyloris Pharmaceuticals, Oost NL, and Netherlands Enterprise Agency on September 6, 2022. The company is a developer of therapies intended to treat cancer and improve the effectiveness of existing chemotherapy.

InsideTracker: The company raised $15 million of Series B venture funding in a deal led by PeakBridge Partners on September 8, 2022. The company is a developer of a health analytics platform intended to analyze blood, DNA, and lifestyle habits and guide users to their health goals with actionable recommendations.

VastBiome: The company raised $14.5 million of venture funding from 3CC | Third Culture Capital on September 7, 2022. The company is an operator of a biotechnology agency intended to transform cancer therapy through the microbiome.

Venatorx Pharmaceuticals: The company raised $12.7 million of Series C1 venture funding from undisclosed investors on September 2, 2022, putting the company’s pre-money valuation at $70 million. The company is a developer of antibacterial and antiviral drugs designed to treat multi-drug-resistant (MDR) bacterial infections.

RapidPulse: The company raised $10.6 million of venture funding from undisclosed investors on August 31, 2022. The company is a developer of medical devices designed to treat ischemic stroke.

Xellar Biosystems: The company raised $10 million of venture funding in a deal led by Legend Capital on August 30, 2022. Yael Capital and ZhenFund also participated in the round. The company is a developer of a biotechnology research tool designed to accelerate drug discovery and development.

AiVita Biomedical: The company raised $6.0 million of venture funding from undisclosed investors on August 30, 2022. The company is a developer of immunotherapy intended to treat cancer and vision loss.

AngelMed: The company raised $6 million of venture funding in the form of convertible debt from undisclosed investors on September 6, 2022. The company is a developer of a cardiac monitoring and alerting device designed to improve cardiovascular care.

M13 Therapeutics: The company raised $5 million of venture funding from Ovid Therapeutics on September 6, 2022. The company is a developer of a bacteriophage-based platform designed to treat human disease and create impactful science in the field of genomic medicines.

CereScan: The company raised $4.5 million of venture funding in the form of convertible debt from undisclosed investors on September 7, 2022. The company is a provider of brain-imaging services intended to diagnose brain injuries or brain disorders.

Healios: The company raised an undisclosed amount of venture funding from Zühlke Ventures, Lichtsteiner Foundation and other undisclosedl investors on August 31, 2022. The company is a developer of digital biomarkers that accompany and accelerate new drug development in neuroscience.


M&A Transactions

Forma Therapeutics / Novo Nordisk: The company reached a definitive agreement to be acquired by Novo Nordisk for $1.1 billion on September 1, 2022. Forma Therapeutics Holdings Inc is a clinical-stage biopharmaceutical company.

Affera / Medtronic: The company was acquired by Medtronic for $675 million on August 30, 2022. The company is a developer of a medical device designed to treat heart rhythm disorders.

OpenEye Scientific Software / Cadence Design Systems: The company was acquired by Cadence Design Systems for approximately $500 million on August 31, 2022. The company is a developer of scientific software designed for molecular modelling applications.

Good Therapeutics / Roche: The company reached a definitive agreement to be acquired by Roche for $250 million on September 7, 2022. The company is a developer of protein therapeutics designed to harness biological pathways which have the potential to intervene effectively in disease.

Diurnal / Neurocrine Biosciences: The company reached a definitive agreement to be acquired by Neurocrine Biosciences for GBP 48.3 million on August 30, 2022. Diurnal Group PLC is a specialty pharmaceutical company developing hormone therapeutics to aid lifelong treatment for rare and chronic endocrine conditions, including Congenital Adrenal Hyperplasia, Adrenal Insufficiency, Hypogonadism, and Hypothyroidism.

Metacrine / Equillium: The company reached a definitive agreement to be acquired by Equillium for $26 million on September 6, 2022. Metacrine Inc is a clinical-stage biopharmaceutical company focused on discovering and developing differentiated therapies for patients with liver and gastrointestinal diseases.

Ocean Biomedical / Aesther Healthcare Acquisition: The company reached a definitive agreement to acquire Aesther Healthcare Acquisition through a reverse merger, resulting in the combined entity trading on the NASDAQ Stock Exchange under the ticker symbol OCEA on August 31, 2022. Ocean Biomedical Inc is a biopharmaceutical company.

Bergstrom Nutrition / Balchem: The company was acquired by Balchem (NASDAQ: BCPC) for an undisclosed amount on August 30, 2022. The company is a manufacturer and supplier of dietary and healthcare supplements based in Vancouver, Washington.

Canexia Health / Imagia: The company was acquired by Imagia for an undisclosed amount in September 2022. The company is a developer of actionable molecular tests designed to guide the diagnosis and treatment of cancer.

Ducentis / Arcutis Biotherapeutics: The company reached a definitive agreement to be acquired by Arcutis Biotherapeutics for an undisclosed amount on September 8, 2022. The company is a developer of novel therapies designed to provide treatment for inflammation and autoimmune diseases.

Forefront TeleCare / SOC Telemed: The company was acquired by SOC Telemed for an undisclosed amount on September 1, 2022. The company is a provider of virtual behavioral health care intended to serve seniors with telepsychiatry and teletherapy care.

Optimal Hearing / HearingLife: The company was acquired by HearingLife for an undisclosed amount on September 6, 2022. The company is a provider of hearing tests and hearing aid solutions based in Savannah, Georgia.

Shine / Headspace: The company was acquired by Headspace for an undisclosed amount on September 8, 2022. The company is a developer of a self-care communication application designed to make wellbeing accessible.

Vivani Medical / Second Sight Medical Products: The company was acquired by Second Sight Medical Products for an undisclosed amount on August 30, 2022. Vivani Medical Inc develops and commercializes drug and device implants that treat patients with chronic diseases with high unmet medical need.

WellteQ Digital Health / Advanced Human Imaging: The company reached a definitive agreement to be acquired by Advanced Human Imaging for an undisclosed amount on September 2, 2022. WellteQ Digital Health Inc is a provider of corporate wellness solutions developed to provide data-driven personalized health and wellness coaching to engage its users in healthier behaviors.

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