Disrupted Healthcare – 20 Deals and Investments This Week

VC Deals (13 deals)

RetraceHealth, a Minneapolis-based provider of primary care through in-home and video visits, has raised an undisclosed amount of VC funding from Blue Cross and Blue Shield of Minnesota, HealthEast Care System and McKesson Ventures

Inivata Ltd., a UK-based cancer genomics company that employs circulating tumor DNA analysis, has raised around $45 million in Series A funding. Woodford Patient Capital Trust was joined by return backers Imperial Innovations, Cambridge Innovation Capital and Johnson & Johnson

 CARsgen Therapeutics, a Shanghai-based developer of CAR-T-based autologous immunotherapy to treat solid tumors, has raised $30 million in Series B funding. KTB Ventures and Jolly Innovation Ventures co-led the round, and were joined by Kaitai Capital and JIC GenesisFountain Healthcare Ventures

Adicet Bio Inc., a New York-based developer of cell immunotherapies, has raised $51 million in Series A funding. OrbiMed Advisors led the round, and was joined by Novartis Venture Fund and Pontifax. The company also announced that it has acquired Applied Immune Technologies, an Israeli developer of immunotherapies directed to the intracellular proteome. No financial terms were disclosed, although OrbiMed, Novartis and Pontifax were all existing AIT investors

Tarveda Therapeutics Inc. (f.k.a. Blend Therapeutics), a Watertown, Mass.-based developer of targeted anti-cancer medicines for treating solid tumors, has raised $38 million in Series C funding co-led by Novo AS and return backerNew Enterprise Associates

Neurotrack, a Palo Alto, Calif.-based maker of digital cognitive assessment tests, has raised $6.5 million in new VC funding. Khosla Ventures led the round, and was joined by Social Capital, Founders Fund, AME Cloud Ventures and iSeed Ventures

Adagene Inc., a Chinese antibody discovery and development startup, has raised $28 million in Series B funding. GP Healthcare Capital led the round, and was joined by New World TMT and return backers Eight Roads Ventures China, F-Prime Capital and WuXi Corporate Venture Fund

CosmosID, a Rockville, Md.-based developer of pathogen identification software, has raised $6 million in Series B funding led by Applied Value Group

Oscar, the 2.5-year-old, New York-based healthcare insurance startup, has reportedly authorized the sale of up to $400 million in new shares that are valued at $6.75 each, which — as Fortune’s Dan Primack notes — would give the company a fully-diluted valuation of roughly $2.97 billion. The company has already raised $327 million, including from Google Capital, Khosla Ventures, and Founders Fund, shows Crunchbase; Fidelity Investments is reportedly leading the new round

Codiak Biosciences, a year-old, San Francisco-based developing exosomes as both a therapeutic modality and an advanced diagnostic system, has raised $61 million in Series B funding led by ARCH Venture Partners and Flagship Ventures, with participation from the Alaska Permanent Fund, Alexandria Venture Investments and Fidelity. The company has now raised $92 million altogether

Jan Medical, a 13-year-old, Mountain View, Ca.-based medical device company that makes a non-invasive, portable brain sensing system designed as a rapid aid to help diagnose abnormal neurological conditions like concussion and stroke, has raised $7.5 million in Series C funding from Brainlab, itself a privately held, Munich-based medical technology company

SnapMD, a 2.5-year-old, Glendale, Ca.-based telemedicine startup telemedicine platform that helps physicians conduct scheduled virtual consultations with patients who are receiving ongoing treatment, has raised $5.3 million in fresh funding from Shea Ventures, TYLT Labs, and Whittier Ventures

JustDoc, a Bangalore based (India) announced an undisclosed amount of seed funding from TracxnLabs, Singapore Angel Network, and individual investors, including Infosys co-founder T. V. Mohandas Pai, InMobi co-founder Mohit Saxena, and TaxiForSure co-founder Raghunandan G #asia

PE Deals (3 deals)

Dominus Capital has acquired Complete Nutrition, an Omaha, Neb.-based franchisor of health-focused retail stores and distributor of nutritional supplements. No financial terms were disclosed

Curo Health Services, a Mooresville, N.C.-based hospice provider owned byThomas H. Lee Partners, has acquiredNew Century Hospice, a regional hospice provider operating in Colorado and Oklahoma. No financial terms were disclosed. Sellers were Scale Venture Partners andPetra Capital Partners

Greencross (ASX: GXL), an Australian veterinary care company, has rejected a A$6.45 per share non-binding takeover offer from TPG Capital, which in December acquired a 6.9% equity stake

IPO Deals (3 deals)

Editas Medicine, a Cambridge, Mass.-based genome editing company, has set its IPO terms to 5.9 million shares being offered at between $16 and $18 per share. It would have an initial market cap of around $607 million, were it to price in the middle of its range. The pre-revenue company  plans to trade on the Nasdaq under ticker symbol EDIT, with Morgan Stanley and J.P. Morgan serving as lead underwriters. Editas has raised around $210 million in VC funding, from firms like Flagship Ventures (16.6% pre-IPO stake), Polaris Ventures (15.6%), Third Rock Ventures (15.6%), Boris Nikolic (8.9%), Deerfield Management (5.7%), Fidelity (5.7%), Viking Global Investors (5.7%), T. Rowe Price, Google Ventures, Jennison Associates, Khosla Ventures, EcoR1 Capital, Casdin Capital, Omega Funds, Cowen Private Investments and Alexandria Venture Investments

Mapi Pharma Ltd., an Israel generic drugs developer, has set its IPO terms to 3.1 million shares being offered at between $15 and $17 per share. It would have a fully-diluted valuation of around $194 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol MAPI, with JMP Securities serving as sole underwriter. Shareholders include Shavit Capital

Tactile Systems Technology Inc., a Minneapolis-based provider of at-home lymphedema treatments, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol TCMD, with Piper Jaffray, William Blair and Canaccord Adams serving as lead underwriters. The company reports $134,000 in net income on nearly $42 million in revenue for the first nine months of 2015. Shareholders include Galen Partners and Radius Ventures

Other Deals (1 deal)

Mitsui & Co., Canon and Konica Minolta each have interest in acquiring a control stake in the healthcare device unit of Toshiba Corp. (Tokyo: 6502), according to the Nikkei daily. The business generated around $3.35 billion in 2014 revenue

Sources: Term Sheet, Financial Times, StrictlyVC, TechinAsia, CrunchBase, TechCrunch, Bloomberg

The Propell Group

#healthtech #asia