Disrupted Healthcare – 34 Deals and Investments This Week

VC Deals (16 deals, $330M invested)

Zai Labs, a Shanghai-based drug developer whose lead candidate is focused on treating liver cancer, has raised more than $100 million in Series B funding.Advantech Capital led the round, and was joined by OrbiMed Advisors, Sequoia Capital China, Qiming Venture Partners and TF Capital

V-Wave Ltd., an Israel-based developer of an implantable, interatrial shunt for the treatment of heart failure, has raised $28 million in Series B funding. Johnson & Johnson Development Corp., TriVentures, Pura Vida Investments and BioStar Ventures were joined by return backers BRM Group, Pontifax and Edwards Lifesciences

Lodo Therapeutics Corp. has been formed by Accelerator Corp. to develop therapeutics derived from Accelerator’s metagenomics-based small molecule discovery platform. It also has raised $17 million in Series A funding from Accelerator New York’s investment syndicate partners: ARCH Venture Partners, Eli Lilly and Company, Harris & Harris Group, Inc., Innovate NY Fund, Johnson & Johnson Development Corp., The Partnership Fund for New York City, Pfizer Venture Investments, Watson Fund and WuXi PharmaTech. The Bill & Melinda Gates Foundation also participated

Aelix Therapeutics, a Barcelona-based developer of immunotherapies against HIV infection, has raised €11.5 million in Series A funding. Ysios Capital led the round, and was joined by Johnson & Johnson Development Corp. and Caixa Capital

Iconic Therapeutics, a South San Francisco-based developer of therapeutics for retinal disease and cancer, has raised $40 million in Series C funding. HBM Healthcare Investments, Cormorant Asset Management and Osage University Partners were joined by return backers MPM Capital, H.I.G. Capital and Lundbeckfund Ventures

AiCure, a New York-based SaaS platform that uses artificial intelligence to visually confirm medication ingestion, has raised $12.25 million in Series A funding.New Leaf Venture Partners led the round, and was joined by Pritzker Group Venture Capital, Tribeca Venture Partners, and Biomatics Capital

GeneWiz, a South Plainfield, N.J.-based genomics services provider, has raised an undisclosed amount of new equity funding. OrbiMed Advisors led the round, and was joined by Ampersand Capital Partners and Prime Value Capital Management

Syros Pharmaceuticals, a Cambridge, Mass.-based developer of gene control therapies for cancer and other diseases, has raised $40 million in new VC funding.Deerfield Management Co. led the round, and was joined by Casdin Capital and return backers Fidelity, WuXi Healthcare Ventures, Polaris Partners, Redmile Group, Aisling Capital and Alexandria Venture Investments

Tmunity Therapeutics, a Philadelphia-based developer of “products to unleash the immunological potential of T cells to treat a wide range of disease indications,” has raised $10 million in new equity funding from Penn Medicine(academic medical center of the University of Pennsylvania) and Lilly Asia Ventures

Picwell, a Philadelphia-based predictive recommendation engine for healthcare plan selection, has raised $3 million in new Series A funding fromBlueCross BlueShield Venture Partners and the Sandbox Advantage Fund. This brings the round total to $7 million, including a prior close led by MassMutual Ventures

Babylon Health, a UK-based mobile healthcare consultation app, has raised $25 million in Series A funding. AB Kinnevik led the round, and was joined by return backers like Hoxton Ventures. Individual investors include Demis Hassabis and Mustafa Suleyman, the founders of AI company Deepmind (acquired by Google)

Call9, a Palo Alto, Calif.-based telemedicine startup, has raised $10 million in Series A funding led by Index Ventures

 Care24, an Indian home healthcare startup, has raised $4 million in Series A funding from SAIF Partners #asia

20/20 GeneSytems Inc., a Rockville, Md.-based cancer diagnostics startup “at the intersection of tumor biomarker diagnostics and big-data healthcare analytics,” has raised $4.5 million in new Series A funding from firms like Ping An Ventures

Syapse, a seven-year-old, Palo Alto, Ca.-based data platform that integrates genomic and clinical data with care pathways and other medical knowledge to give healthcare workers actionable insights, has raised $25 million in Series C funding led by Ascension Ventures, the investment arm of nonprofit Catholic health system Ascension. Earlier backers Social+Capital Partnership andSafeguard Scientifics also joined the round

Manna Healthcare, which runs the fitness app Obino, has secured early-stage funding from US-based VC firm RoundGlass Partners #asia

PE Deals (12 deals)

The Abraaj Group has acquired a “significant minority stake” in Cellulose Processing, a manufacturer and distributor of baby diapers and feminine sanitary pads in Algeria. No financial terms were disclosed

Great Hill Partners has sponsored a recapitalization ofRxBenefits, a Birmingham, Ala.-based provider of pharmacy benefits administration solutions for small to mid-sized, self-insured employers. No financial terms were disclosed

Healthline Media, a San Francisco-based health information site, has raised $95 million in growth equity funding from Summit Partners. The deal separately capitalizes Healthline Media from VC-backed Healthline Networks, with HM general manager David Kopp to serve as CEO

PWNHealth LLC, a New York-based diagnostic testing company sponsored byEDG Partners, has acquired Bind Health, a New York-based provider of genetic testing solutions. No financial terms were disclosed. Sellers include Blueprint Health

The Riverside Company has acquired The Dermatology Group, a dermatology-focused physician practice management company with 16 company affiliated locations throughout Northern and Central New Jersey. No financial terms were disclosed

Aurora Resurgence, an affiliate of Aurora Capital Group, has acquired the assets of Cardiac Science Corp., a Waukesha, Wis.-based maker of automated external defibrillators for the public access, education, police, and fire and rescue markets. No financial terms were disclosed for the court-approved transaction

Dundon Capital Partners has acquired a majority equity stake inEmployerDirect Healthcare, an Austin, Texas-based provider of healthcare solutions for self-funded employers. No financial terms were disclosed

Tenex Capital Management has acquired the assets ofOhio Medical Corp., a Gurnee, Ill.-based maker of suction and oxygen therapy products and medical gas equipment devices, from MVC Capital (NYSE: MVC) for around $40 million. Robert W. Baird & Co. managed the process

Abraaj Group has agreed to acquire a majority stake in Indian hospital chainQuality Care India Ltd. fromAdvent International. No financial terms were disclosed

Doctors of Optometric Care, a Norwalk, Conn.-based acquisition platform sponsored by The Riverside Company, has acquired PRIMA Eye Group, an Atlanta-based consulting firm and alliance for nearly 400 independent optometrist practices. No financial terms were disclosed

The Audax Group has acquired Lifemark Health andViewpoint Medical Assessments, the Toronto-based physiotherapy, rehabilitation and medical assessments divisions of Centric Health Corp. (TSX: CHH). The deal is valued at upwards of C$250 million in cash, including C$245 million at closing and C$5 million in contingent payments

Wafra Partners has acquired The Wellness Network, a New York-based provider of in-hospital health TV networks. No financial terms were disclosed

IPO Deals (2 deals)

Clearside Biomedical Inc., an Alpharetta, Ga.-based developer of therapies to treat blinding diseases of the eye, has filed for a $57.5 million IPO. It plans to trade on the Nasdaq under ticker symbol CLSD, with RBC Capital Markets serving as lead underwriter. The pre-revenue company last month announced $20 million in Series C funding. Shareholders include Hatteras Venture Partners (28.4% pre-IPO stake), RMI Investments (12.5%), Santen Pharmaceutical Co. (9.2%), GRA Venture Fund (7.2%), Aju IB Investment, Cormorant Asset Management, Perceptive Advisors and Rock Springs Capital Management

Senseonics, a Germantown, Md.-based provider of glucose monitoring devices, has filed for a $51.57 million IPO. The company’s stock is currently traded on the OTCQB under ticker symbol SENH, and it plans to relist on the NYSE MKT under symbol SENS. Leerink Partners and Canaccord Genuity are serving as lead underwriters. Senseonics reports a $24 million net loss on $38 million in revenue for the first nine months of 2015, and is backed by such firms as New Enterprise Associates (33% stake), Delphi Ventures (13.4%), HealthCare Ventures (7.4%), Roche Finance (10.5%) and Energy Capital (9.9%)

Other Deals e.g. M&A (4 deals)

Shire PLC (LSE: SHP) has agreed to acquire BaxaltaInc. (NYSE: BXLT) for $32 billion in cash and stock

Pfizer Inc. (NYSE: PFE) is in preliminary discussions to sell the infusion pump business of subsidiary Hospira Inc., according to Bloomberg. The deal could be valued at around $2 billion. Pfizer closed its $15 billion purchase of Hospira last September

Sagent Pharmaceuticals Inc. (Nasdaq: SGNT), a Schaumburg, Ill.-based injectable drugmaker valued at around $482 million, has hired Perella Weinberg Partners to explore strategic alternatives that could include a sale of the company

WebMD (Nasdaq: WBMD), a New York-based health information portal with a market cap just south of $2 billion, is exploring a sale of all of part of the company

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

The Propell Group

#healthtech #asia