Disrupted Healthcare – 23 Deals and Investments This Week

VC Deals (12 deals, $109M raised)

TAI Diagnostics Inc., a Wauwatosa, Wis.-based developer of diagnostic tests for monitoring the health of transplanted organs, has raised $8.2 million in Series A funding led by Venture Investors

Taris Biomedical LLC, a Lexington, Mass.-based developer of treatments for urologic diseases, has raised $32 million in new VC funding. Flagship Venturesled the round, and was joined by RA Capital Management and return backer Polaris Venture Partners

SmartZyme, an Israeli developer of a tech platform for protein design and engineering, has raised $4 million in VC funding led by OrbiMed

Nuritas, an Irish therapeutics discovery startup that leverages artificial intelligence, has raised $3.2 million in new VC funding. New Protein Capital(Singapore) led the round, and was joined by Ali Partovi

Virtuagym, a Dutch developer of fitness apps, has raised €2.1 million in Series A funding from Saffelberg Investments

Turnstone Biologics Inc., a Toronto-based developer of oncolytic viral immunotherapies for cancer, has raised C$11.3 million in Series A funding.Versant Ventures led the round, and committed more than C$20 million in follow-on funding

MabSpace Biosciences Co., a Chinese developer of antibody-based therapeutics, has raised $15 million in Series A funding from Lilly Asia Ventures

Aira.IO, a La Jolla, Calif.-based visual interpreter for the blind, has raised $790,000 in seed funding from Lux Capital and ARCH Venture Partners

Enlitic, a year-old, San Francisco-based company applying machine learning to X-rays, MRIs and other medical images to radiologists, has raised $10 million in Series B funding led by Capitol Health Limited, an Australian radiology company that operates imaging centers in Australia and some Asian markets. Enlitic previously raised $5 million in Series A funding from Amplify PartnersData Collective, and individual investors

Qvella, a six-year-old, Toronto-based molecular diagnostics company, has raised $20 million in Series A financing co-led by RA Capital ManagementandWhitecap Venture Partners, with participation from Hatteras Venture Partners and Sands Capital Ventures

Monclarity, a Burlingame, Ca.-based company that was cofounded by a neuropsychologists and makes games that it promises can train the brain under the brand Brainwell, has raised $5 million in seed funding led by Access Industries

Lifetrack, a teleradiology startup from Philippines, announced it raised an undisclosed amount of funding from strategic investors, including Kickstart Ventures

PE Deals (3 deals)

Cinven and Sonic Healthcare Ltd. (ASX: SHL) have expressed interest in bidding on Swiss diagnostics company Unilabs SA, a Swiss diagnostics company currently owned by Apax Partners and Nordic Capital, according toBloomberg. Other potential bidders include Novo AS and PAI Partners. The Geneva-based company recently hired Rothschild to run a sale process that could generate around €1.5 billion

VMG Health, a Dallas-based provider of financial valuation and advisory services for the U.S. healthcare transaction market, has raised an undisclosed amount of private equity funding from Quad-C Management

Galil Medical, an Israeli developer of oncology cryoablation technology, has agreed to acquire Perseon Corp. (Nasdaq: PRSN), a Salt Lake City-based microwave ablation company, for $10.6 million in cash. The deal is contingent on Perseon raising around $26 million concurrent with the deal’s closing. Galil Medical shareholders include Investor Growth Capital, Elron Electronic Industries, Thomas McNerney & Partners and The Vertical Group

IPO Deals (3 deals)

GenSight Biologics, a Paris-based ophthalmic therapeutics using gene therapy, has set its IPO terms to 4.65 million shares being offered at between $13 and $15 per share. It would have an initial market cap of around $256 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol GNST, with Leerink Partners listed as left lead underwriter. Shareholders include Novartis Ventures (20.37% pre-IPO stake), Abingworth (17.06%), Versant Ventures (17.06%), Fidelity (9.44%), Vitavest (7.48%) and Index Ventures

MyoKardia Inc., a South San Francisco-based provider of therapies for genetic heart disease, raised $54 million in its IPO. The company priced 5.4 million shares at $10 per share, compared to plans to offer around 4.69 million shares at between $15 and $17. Its initial market cap will be  approximately $262 million. MyoKardia will trade on the Nasdaq under ticker symbol MYOK, while Credit Suisse and Cowen & Co. served as lead underwriters. The company reports a $12.2 million net loss on $7.1 million in collaboration and license revenue for the first half of 2015, and had raised over $90 million in VC funding, from firms like Third Rock Ventures (52.67% pre-IPO stake), Fidelity (13.19%), Aventis Inc. (11.22%), Casdin Capital, Cormorant Asset Management, Perceptive Life Sciences and BioBridge

Voyager Therapeutics, a Cambridge, Mass.-based developer of gene therapy solutions for fatal and debilitating CNS diseases, has set its IPO terms to 4.69 million shares being offered at between $15 and $17 per share. It would have an initial market cap of around $412 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol VYGR, with Cowen & Co. and Piper Jaffray serving as lead underwriters. Voyager Therapeutics has raised around $105 million in VC funding from Third Rock Ventures (52.6% pre-IPO stake), Aventis (11.2%), Fidelity (7.5%), Brookside Capital (5.6%), Partner Fund Management (5.2%), Wellington Management and Casdin Capital

Other Deals (5 deals)

Intel (Nasdaq: INTC) has agreed to acquire Saffron AI, a Cary, N.C.-based maker of a cognitive computing platform that is reminiscent of IBM’s Watson technology. No financial terms were disclosed. Saffron had raised VC funding from Intel Capital, Catalysta Ventures and Aurora Funds

Roper Technologies Inc. (NYSE: ROP) has agreed to acquire two companies:CliniSys Group Ltd., a UK-based provider of laboratory information management systems; and Atlas Medical, a Calabasas, Calif.-based provider of clinical process and connectivity solutions. No financial terms were disclosed for either deal. CliniSys Group is currently backed by ECI Partners

Walgreens Boots Alliance (Nasdaq: WBA) has agreed to acquire Rite Aid(NYSE: RAD) for $9.4 billion in cash. The $9 per share deal represents a 48% premium to Monday’s closing price for Rite Aid stock, and assigns the Pennsylvania-based pharmacy chain an enterprise value of $17.2 billion. The combined chain would have nearly 13,000 U.S. locations

Pfizer Inc. (NYSE: PFE) and Allergan Inc. (NYSE: AGN) are considering a merger that would create a drugs giant worth over $300 billion, according to multiple media reports

UnitedHealth Group Inc. (NYSE: UNH) is in “advanced talks” to acquireHelios, a Memphis, Tenn.-based employee benefits manager currently owned byKelso & Co. and Stone Point Capital, according to Bloomberg. The deal could be valued at upwards of $1.7 billion

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

The Propell Group

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