Healthcare Private Placement and M&A Transactions Review Week Ending September 29, 2024

EGYM: The company raised an estimated $200 million of Series G venture funding led by L Catterton with participation from Meritech Capital Partners on September 24, 2024, putting the company’s pre-money valuation at an estimated $1 billion. The company is a developer of professional fitness equipment.

ViceBio: The company raised $100 million of Series B venture funding in a deal led by TCG Crossover Management, The Goldman Sachs Group, Avoro Ventures and venBio on September 23, 2024. Medicxi and Uniquest also participated in the round. The company is a developer of innovative vaccines designed to target respiratory viral infectious diseases.

Mendaera: The company raised $73 million of Series B venture funding in a deal led by Threshold Ventures on September 26, 2024. Lux Capital, Fred Moll, Puma Venture Capital and PFM Health Sciences also participated in the round. The company is a developer of surgical robots designed to perform precise and consistent point-of-care operations.

Constructive Bio: The company raised $58 million of Series A venture funding in a deal led by Ahren Innovation Capital, OMX Ventures and Paladin Capital Group on September 24, 2024. F-Prime Capital, ND Capital and Jonathan Milner also participated in the round. The company is an operator of a biotechnology company intended to produce sequence-defined biopolymers at scale.

858 Therapeutics: The company raised $50 million of Series B venture funding in a deal led by Avidity Partners on September 26, 2024. Insight Partners, Versant Ventures, New Enterprise Associates, Alexandria Venture Investments, Logos Capital, and Mirae Asset Capital also participated in the round. The company is an operator of a biotechnology business intended to discover innovative therapeutics for the treatment of cancers that are resistant to current therapies.

Mirai Bio: The company raised $50 million of venture funding from Flagship Pioneering on September 27, 2024. The company is a developer of an open biotech platform which enables the co-creation of fully optimized genetic medicines.

Convergent Therapeutics: The company raised $40 million of Series A-4 venture funding from Novo Holdings and other undisclosed investors on September 24, 2024, putting the company’s pre-money valuation at $237.8 million. The company is an operator of a clinical-stage biotechnology company intended to explore the potential of dual-targeted combination strategies to treat cancer.

Orpyx: The company raised $20 million of venture funding in a deal led by Perceptive Advisors on September 24, 2024. The company is a developer of wearable sensor-based healthcare tools designed to prevent devastating complications to feet from peripheral neuropathy.

OxeFit: The company raised $17.5 million of Series A-3 venture funding from Dave Asprey, Anne Mahlum, and other undisclosed investors on September 25, 2024, putting the company’s pre-money valuation at $207 million. The company is a developer of an AI-powered home fitness solution designed to integrate robotics, performance tracking, and advanced coaching and analytics.

Generate:Biomedicines: The company raised $15 million of venture funding from Novartis Institutes for BioMedical Research on September 24, 2024. The company is a developer of a generative biology platform designed to invent new drugs across protein modalities and protein therapeutics.

SurgAR: The company raised EUR 11 million of venture funding in a deal led by Mutuelles Impact on September 26, 2024. MH innov’, Malakoff Humanis, UI Investissement, XAnge, Elaia Partners, Credit Agricole Lhl Capital Innovation, Jacques Gardette and Bpifrance also participated in the round. The company is a developer of a plug-and-play augmented reality software designed for minimally invasive surgery.

PBS Biotech: The company received $8.5 million of development capital from undisclosed investors on September 24, 2024. The transaction values the company at $224.5 million. The company is a manufacturer of single-use bioreactor systems intended to create homogeneous and scalable mixing conditions for a variety of sensitive cell therapy products and cell culture applications.

Invizius: The company raised GBP 4.4 million of venture funding in a deal led by Mercia Asset Management on September 23, 2024, putting the company’s pre-money valuation at GBP 13.4 million. Old College Capital, Syensqo Ventures, Calculus Capital, Scottish Enterprise, and other undisclosed investors also participated in the round. The company is an operator of a biotech business intended to develop treatments to suppress unwanted innate immune responses.

Aria CV: The company raised $2.2 million of venture funding from undisclosed investors on September 27, 2024. The company is a developer of an implantable cardiovascular device designed to treat pulmonary hypertension.

Bio-Sourcing: The company is in the process of raising venture funding from European Innovation Council Fund and other undisclosed investors on September 24, 2024. The company is a developer of biological therapeutics based in Liège, Belgium .

CTRL Therapeutics: The company raised $9.1 million of venture funding from undisclosed investors on September 26, 2024. The company is a developer of a microfluidic cell therapy intended to optimize the detection of rare circulating tumour cells.

Santispharma: The company received an undisclosed amount of development capital from Abenex, Mr. Etienne de Laroullière, Mr. Gildas Le Roux and its management on September 23, 2024. The company is a provider of health products for  respiratory problems, circulation, urinary tract health, sleep and stress, energy, joint pain, and digestive health.

Catalent Analytical Services Laboratory / Pace Analytical Services: The business unit of Catalent was acquired by Pace Analytical Services, via its financial sponsors Aurora Capital Partners, Leonard Green & Partners, AustralianSuper, and Golub Capital BDC, through an LBO on September 26, 2024, for an undisclosed amount. The company is an operator of small molecule analytical services based in Research Triangle Park, North Carolina.

Doherty Dermatology / Frontier Dermatology: The company was acquired by Frontier Dermatology, via its financial sponsor A&M Capital, through an LBO on September 24, 2024 for an undisclosed amount. The company is a provider of dermatological services intended for the treatment of skin cancer.

EDL / Dentressangle: The company has entered into a definitive agreement to be acquired by Mr. Kylian Lopez, Dentressangle and its management through an LBO on September 23, 2024 for an undisclosed amount. The company is a developer of radiology information system (RIS) software designed to manage medical imagery departments.

Gilero / Sanner Group: The company was acquired by Sanner Group, via its financial sponsor GHO Capital, through an LBO on September 25, 2024 for an undisclosed amount. The company is a developer of medical and drug delivery devices.

Jubilee Clinical Research / Pinnacle Clinical Research: The company was acquired by Pinnacle Clinical Research, via its financial sponsors Abacus Finance Group and LongueVue Capital, through an LBO on September 27, 2024 for an undisclosed amount. The company is a provider of multi-therapeutic research services based in Las Vegas, Nevada.

Lamda Biotech / Molecular Designs: The company was acquired by Molecular Designs, via its financial sponsor Excellere Partners, through an LBO on September 25, 2024 for an undisclosed amount. The company is a provider of molecular biology research intended for the healthcare sector.

Metabolomic Diagnostics / Trinity Biotech: The company was acquired by Trinity Biotech for an estimated enterprise value of $1.3 million on September 24, 2024. The company is a developer of a mass spectrometry-based diagnostic platform designed to perform biomarker analysis.

Morgan Scientific / Vitalograph: The company was acquired by Vitalograph for an undisclosed amount on September 23, 2024. The company is a developer of a pulmonary function testing (PFT) software for clinical testing and integrated health information management.

ParMed / Schivo Medical: The company was acquired by Schivo Medical, via its financial sponsor MML Growth Capital Partners, Ireland, through an LBO on September 24, 2024 for an undisclosed amount. The company is a provider of fluid management services designed to optimize medical diagnostics and research.

Synple Chem / eMolecules: The company was acquired by eMolecules, via its financial sponsor Avista Healthcare Partners, through an LBO on September 24, 2024 for an undisclosed amount. The company is a developer of an automated reagent cartridge-based synthesizer designed to facilitate molecule synthesis by improving process efficiency.

Tech Med / Arjo: The company reached a definitive agreement to be acquired by Arjo for an undisclosed amount on September 24, 2024. The company is a distributor of medical diagnostic equipment.

Virscidian / Dotmatics: The company was acquired by Dotmatics, via its financial sponsors Ares Capital and Insight Partners, through an LBO on September 25, 2024 for an undisclosed amount. The company is a developer of scientific analytical desktop and enterprise software designed to automate chromatography and mass spectrometry data processing.