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7º BioTech & eHealth - 6th May

Carlos Molina del Rio

• 2 min read

Startups raising funds

  • ODAIA, a Toronto-based life sciences commercialization startup, raised US$25m in Series B funding. Threshold Ventures and Monograph Capital co-led, and were joined by Wittington Ventures and insiders Flint Capital, BDC Capital, StandUp Ventures and Graphite Capital. Link
  • Kindbody, a New York-based provider of women's fertility services that was recently valued at $1.8b, raised $25m from Morgan Health. Link
  • Healthy.io, a smartphone-based kidney and wound testing startup, raised $50m in Series D funding. Schusterman Family Investments led, and Aleph joined. Link
  • Uwill, a Boston-based provider of mental health and wellness solutions for college students, raised $30m in Series A funding from Education Growth Partners. Link
  • Polymateria, a British biodegradable plastics manufacturer, raised £20m in Series B funding. ABC Impact and Indorama Ventures co-led, and were joined by Milltrust Ventures. Link
  • Intrinsic, a New York-based women's health and wellness brand, raised $15m in equity and debt. FCA Venture Partners and MAP Investco co-led, and were joined by Define Ventures, Link Ventures and Redesign Health. Link

M&A and Private equity deals

  • Sanofi (Nasdaq: SNY) agreed to pay up to $750m, including $150m upfront in cash and equity, for a drug candidate aimed at Pompe disease from Maze Therapeutics, a South SF-based biotech that’s raised $480m from firms like Matrix Capital Management, Third Rock Ventures and Arch Venture Partners. Link
  • Patient Square Capital invested $300m to form Elevage Medical Technologies, a platform to help medtech companies commercialize and secure regulatory approval. Link
  • New Mountain Capital agreed to acquire Apixio, a San Mateo, Calif.-based provider of health care AI solutions, from Centene (NYSE: CNC). Link

IPO & SPAC

  • Kenvue, the Johnson & Johnson consumer health business spinout that's seeking to raise around $3.3 billion at a $40 billion market cap. Link
  • Acelyrin, an Agoura Hills, Calif.-based developer of therapies for inflammatory diseases, set IPO terms to 20.6m shares at $16-$18. It would have a $1.5b fully diluted market value, were it to price in the middle. The pre-revenue company plans to list on the Nasdaq (SLRN) and raised over $550m from firms like Matrix Capital Management (15% pre-IPO stake), Westlake Village BioPartners (13.7%), Orbimed (6.5%), Citadel's Surveyor Capital (6.4%), VenBio, Decheng Capital, Marshall Wace, Samsara BioCapital, and Access Biotechnology. Link
  • Above Food, a Canadian provider of plant-based food products, agreed to go public at an implied US$319m enterprise value via Bite Acquisition Corp. (NYSE: BITE), a SPAC led by Mera Corp. founder Rafael Aguirre. Link
  • Avertix Medical (fka Angel Medical Systems), an Eatontown, N.J.-based cardiac monitoring company that raised over $30m in VC funding, agreed to go public at an implied $195m enterprise value via BIOS Acquisition Corp. (Nasdaq: BIOS). Link
  • Regentis Biomaterials, an Israeli regenerative medicine company focused on tissue regeneration, agreed to go public via OceanTech Acquisitions I Corp. (Nasdaq: OTEC). Regentis raised around $35m in VC funding from firms like DSM Venturing, Haisco Pharma, Haisthera Scientific Fund, Medica Venture Partners and Technion. Link

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