Disrupted Healthcare – 26 Deals and Investments This Week

VC Deals (12 deals, $280M)

Personal Genome Diagnostics, a Baltimore-based provider of advanced cancer genome testing products and services, raised $21.4 million in a Series A funding round led by New Enterprise Associates with participation from Windham Venture Partners and Nanjing Kaiyuan Growth Capital Investments

Crinetics Pharmaceuticals, a San Diego-based therapeutics company focused on specialty endocrine disorders, raised $40 million in Series A financing led by 5AM Ventures, Versant Ventures, and Vivo Capital

Lumo, a Palo Alto-based provider of health-related wearable devices and software, has raised $10 million in Series B funding led by Wuxi Healthcare Ventures, with participation from previous investors Madrona Venture Group, Innovation Endeavors, AME Cloud Ventures, and Innovalue Capital Ltd

Caldan Therapeutics, a developer of novel therapeutics targeting free fatty acid receptors for Type 2 Diabetes, has raised £4.45 million in Series A investment led by Epidarex Capital

CureVac, a Tubigen, Germany-based clinical-stage biopharmaceutical company, raised $110 million (€100 million) led by Baillie Gifford, Chartwave Limited, the Coppel family, Elma Investments, Sigma Group and the Bill & Melinda Gates Foundation

Body Labs, a New York City-based company which makes 3D body models, has raised $8 million in Series A funding led by Intel Capital, with participation from FirstMark Capital, Max-Planck-Innovation GmbH, Osage University Partners, and Catalus Capital

Verge Genomics, San Francisco-based a biopharmaceutical company focused on neurodegenerative diseases raised $4 million in seed financing led by IA Ventures with participation from Two Sigma Ventures, Draper Associates, Great Oaks VC, Slow Ventures, Karlin Venture, Elad Gil and David Lee

Solera Health, a Phoenix, Ariz.-based software platform focused on chronic disease prevention in communities raised $3 million in Series A funding fromBlueCross BlueShield Venture Partners (BCBSVP) with participation by Sandbox Industries

Elevo Therapeutics, a Cambridge, Mass.-based startup focused on “leveraged the power of the microbiome to develop novel therapies for cancer,” has raised $35 million in first-round funding from Flagship Ventures

Biological Dynamics, a San Diego-based molecular diagnostics company, has raised $26.8 million in Series C funding and convertible debt. The round was led by a “large institutional investor associated with a major university.” Other backers include Heritage Group, Alexandria Venture Investment and Qualcomm co-founder Irwin Jacobs

Weave, a four-year-old, Lehi, Ut.-based unified communications platform that combines voice, SMS, and email with existing practice management software, has raised $15.5 million in Series B funding led by Crosslink Capital, with participation from Pelion Ventures, Peak Capital, A Capital, Y CombinatorInitialized Capital and individual investors Geoff Ralston andJoe Montana. The company has now raised $22 million altogether

Lippo Group, one of the largest conglomerates and the biggest healthcare provider in Indonesia, through its affiliate Venturra Capital,will invest an undisclosed amount in the USD millions into Prenetics, a Personalized & Precision Medicine Life Sciences company based in Hong Kong

PE Deals (5 deals)

MedAssets (NASDAQ:MDAS), an Atlanta-based healthcare performance company, has agreed to be acquired by Pamplona Capital Management for $31.35 per share in cash. The purchase price represents a 44.5% premium to the 30 trading day volume weighted average price of MedAssets common stock and an enterprise value of approximately $2.7 billion

QuVa Pharma, a Sugar Land, Texas-based sterile compounding pharmacy services company, has acquired Unique Pharmaceuticals. Terms were not disclosed

SCI Solutions, a portfolio company of Columbia Pacific Advisors, ORIX Ventures, The Wicks Group and New Enterprise Associates, has acquired Clarity Health, a Seattle-based software company serving medical practices, hospitals and health systems

Abraaj Group has acquired a majority stake in two Moroccan companies:Centre de Traitement Al Kindy, Casablanca’s largest private oncology clinic; and Clinique Spécialisée Menara, an oncology and imaging diagnostics center in Marrakech. No financial terms were disclosed

Atreca, a five-year-old, San Carlos, Ca.-based company developing antibodies that could enable more patients to benefit from new, immunotherapies, has raised $56 million in Series A funding led by an undisclosed health care-focused fund, with participation from the Bill & Melinda Gates Foundation,GlaxoSmithKline and Mission Bay Capital

IPO Deals (1 deal)

Kura Oncology, a La Jolla, Calif.-based developer of treatments for solid tumors and blood cancers, raised $50 million in its IPO. The company priced 6.25 million shares at $8 per share, compared to earlier plans to offer 3.75 million shares at $16 per share (which is where it had been trading on the OTC BB). It now will trade on the Nasdaq under ticker symbol KURA, while Citigroup and Leerink Partners serving as lead underwriters. The pre-revenue company has raised in VC funding, from firms like Fidelity (12.73% pre-IPO stake), EcoR1 Capital (9.99%), Arch Venture Partners (9.27%), Tavistock Life Sciences, Partner Fund Management and Nextech Invest

Other Deals (8 deals)

OptiNose, a specialty biopharmaceutical company backed by Avista Capital Partners, the Entrepreneurs’ Fund and WFD Ventures, is for sale, according to Bloomberg. The deal could be worth as much as $1.5 billion

Quality Systems (NASDAQ: QSII), basd in Irvine, Calif., has agreed to acquireHealthFusion Holdings, a San Diego, Calif.-based developer of cloud computing software for physicians, hospitals and medical billing services for $165 million plus potential additional contingent consideration of up to $25 million

Publicis Healthcare Communications Group, a subsidiary of Publicis Groupe, has agreed to acquire the commercial services business of PDI, a healthcare commercialization company based in New Jersey and and Pennsylvania for $25.5 to $32.5 million in cash not including earn-outs

Shire, a Dublin-based biotechnology company, has acquired Dyax Corp. (NASDAQ: DYAX), a Massachusetts-based biotechnology company focused on the development of plasma kallikrein inhibitors for the treatment of hereditary angioedema, a rare genetic disease, for $37.30 in cash per share, or approximately $5.9 billion

Permira has agreed to sell Pharmaq Holding, an aquatic health group, toZoetis Inc. (NYSE:ZTS) for $765 million. The deal represents a 3.2x return for Permira, which bought the company in 2013

Johnson & Johnson (NYSE: JNJ) has agreed to acquire Novira Therapeutics Inc., a Doylestown, Penn.-based antiviral drug discovery company focused on the treatment of chronic hepatitis B virus infections. No financial terms were disclosed. Novira had raised around $25 million from Versant Ventures, 5AM Ventures, Canaan Partners, WuXi PharmaTech, BioAdvance, Mid-Atlantic Angel Group, Robin Hood Ventures and Delaware Crossing Investment Group

Astra Zeneca (LSE: AZN) has agreed to acquire ZS Pharma (Nasdaq: ZSPH), a San Mateo, Calif.-based developer of treatments for kidney and liver disease. The deal is valued at around $2.7 billion in cash, or $90 per share (42.16% premium over yesterday’s closing price)

Slingshot, a company that runs accelerator programs for corporate clients, has partnered with health fund HCF to launch Catalyst, an accelerator program focused on healthtech startups, based in Australia.

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

The Propell Group

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