Strategy | Financing Highlight

Private Placement / Financing Transactions

Galvanize Therapeutics: The company raised $100 million of Series B venture funding in a deal led by Fidelity Management & Research on September 15, 2022. Intuitive Surgical, Gilmartin Capital, and ATP also participated in the round. The company is a developer of energy-based medical device technology designed to improve biological processes.

Forge Biologics: The company raised $90 million of Series C venture funding in a deal led by Drive Capital and Aisling Capital on September 12, 2022. Other undisclosed investors also participated in the round. The company is a developer of a gene therapy drug intended to enable access to life-changing gene therapies.

SparingVision: The company raised EUR 75 million of Series B venture funding in a deal led by UPMC Enterprises and Jeito on September 14, 2022. 4BIO Capital, Ysios Capital, Retinal Degeneration Fund, and Bpifrance also participated in the round. The company is a developer of a medical therapy designed to treat inherited blinding retinal disease retinitis pigmentosa.

Pretzel Therapeutics: The company raised $72.5 million of Series A venture funding in a deal led by ARCH Venture Partners and Mubadala Capital Ventures on September 12, 2022. GV, Karolinska Institutet Holding, The Invus Group, Eir Ventures, HealthCap, Cambridge Innovation Capital, Cambridge Enterprise, GU Ventures and Angelini also participated in the round. The company is a developer of therapies for dysfunctional mitochondria.

Pacylex Pharmaceuticals: The company is in the process of raising $55 million of an undisclosed targeted amount of Series B venture funding on September 12, 2022. The company is a developer of oral cancer therapies intended to treat leukemia and lymphoma.

TRiCares: The company raised EUR 47 million of Series C venture funding in a deal led by 415 CAPITAL on September 15, 2022. Andera Partners, Crédit Mutuel Equity, BioMedPartners, GO Capital, Karista and Wellington Partners also participated in the round. The company is a developer of a catheter-based valve replacement system designed for minimally invasive treatment of tricuspid valve regurgitation.

Novome Biotechnologies: The company raised $43.5 million of Series B venture funding in a deal led by Tencent on September 13, 2022, putting the company’s pre-money valuation at $90 million. Alexandria Venture Investments, Navian Investment Group, Colorcon, Touchdown Ventures, and 4 other investors also participated in the round. The company is an operator of a drug discovery platform intended to develop cell-based therapeutics.

Delphinus Medical Technologies: The company raised $30.41 million of venture funding from Mahendra Ramsinghani and other undislcosed investors on September 13, 2022. The company is a developer of an ultrasound system designed to transform the early detection of breast cancer.

Aignostics: The company raised EUR 14 million of Series A venture funding in a deal led by Wellington Partners on September 15, 2022. Boehringer Ingelheim Venture Fund, High-Tech Gründerfonds, IBB Ventures, and Ascension also participated in the round. The company is a developer of an AI-based image analysis system designed to assist pathologists in standardized and quantitative automated tissue diagnostics.

Monteris Medical: The company raised $13.7 million of venture funding from undisclosed investors on September 13, 2022. The company is a developer of magnetic resonance imaging-guided, laser-based systems designed for the ablation of brain lesions.

Armis Biopharma: The company raised $12.5 million of venture funding in the form of Conversion of notes from undisclosed investors on September 15, 2022. The company is a developer of antimicrobial therapies designed to fight drug-resistant infections.

EnteroBiotix: The company raised $11.2 million of venture funding in the form of convertible debt from undisclosed investors on September 14, 2022. The company is a developer of novel microbiome modulating drugs designed to restore health and prevent bacterial infections.

WhiteLab Genomics: The company raised $10 million of venture funding in a deal led by Debiopharm Group and Omnes Capital on September 13, 2022. The company is a developer of a gene and cell therapy platform designed to perform exhaustive analyses and processing of scientific, technical, biological, genomic, and experimental datasets.

Synergia Medical: The company raised EUR 9 million of Series B venture funding from Société Régionale d’Investissement de Wallonie, Investsud and TheClubDeal on September 12, 2022. Newton BioCapital, Federal Holding and Investment Company also participated in the round. The company is a manufacturer of medical devices intended to focus on optoelectronics-related technology.

Ostial Flash: The company raised $7.7 million of venture funding from undisclosed investors on September 16, 2022. The company is a developer of an ostial system designed to help overcome the challenges of aorto-ostial stenting.

Riva Health: The company raised $7.3 million of venture funding from undisclosed investors on September 14, 2022. The company is a developer of a digital therapeutics application designed to monitor cardiovascular diseases.

ArborMetrix: The company raised $4.1 million of venture funding from undisclosed investors on September 14, 2022. The company is a developer of clinical performance analytics tools designed to improve the delivery of healthcare outcomes through data science.

SHINE Medical Technologies: The company received $3.3 million of development capital from undisclosed investors on September 15, 2022. The company is a developer of medical isotopes intended to offer medical tracers and cancer treatment elements.


M&A Transactions

LightDeck / Heska: The company reached a definitive agreement to be acquired by Heska for $38.7 million on September 12, 2022. The company is a developer of on-the-spot diagnostic products designed to offer fast, accurate, simple, and low-cost diagnostic tests.

Oncogeni / Roquefort Investments: The company was acquired by Roquefort Investments for GBP 5.5 million on September 16, 2022. The company is a developer of cancer medicines based in Stratford-Upon-Avon, England.

Apollomics / Maxpro Capital Acquisition: The company reached a definitive agreement to be acquired by Maxpro Capital Acquisition through a reverse merger on September 14, 2022. The company is an operator of a biopharmaceutical company focused on the discovery and development of oncology combination therapies.

Epion Health / Kyruus: The company reached a definitive agreement to be acquired by Kyruus for an undisclosed amount on September 13, 2022. The company is a developer of a patient engagement platform designed to provide a variety of mobile health applications and content using cloud-based application and content management services.

Innovation360 / Pathway Healthcare: The company was acquired by Pathway Healthcare for an undisclosed amount on September 12, 2022. The company is a provider of counseling and therapy services intended to maintain mental health.

Path Medical / Physicians Group: The company was acquired by Physicians Group for an undisclosed amount on September 12, 2022. The company is a provider of integrated acute trauma treatment and diagnostic imaging solutions to patients injured in automobile and non-work-related accidents.

ValitaCell / Beckman Coulter Life Sciences: The company was acquired by Beckman Coulter Life Sciences for an undisclosed amount on September 13, 2022. The company is a provider of biotechnology services intended to improve the efficiency and performance of cell development.


Source: Pitchbook Data, Inc.

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