Disrupted Healthcare – 54 Deals and Investments This Week

VC Deals (28 deals, $1028M)

Scholar Rock, a Cambridge, Mass.-based developer of drugs that “selectively target supracellular activation of growth factors in the disease microenvironment,” has raised $36 million in Series B funding. Fidelity led the round, and was joined by Cormorant Asset Management and return backers Polaris Partners, Timothy Springer, ARCH Venture Partners, EcoR1 Capital and The Kraft Group

Hometeam, a New York-based provider of elder home care solutions, has raised $27.5 million in Series B funding. Oak HC/FT led the round, and was joined by return backers Lux Capital, IA Ventures and Recruit Strategic Partners

BionX Medical Technologies Inc., a Bedford, Mass.-based developer of bionic prosthetic devices, has raised $17 million in Series E funding. ZGC Shiner Investmentled the round, and was joined by return backers like Gilde Healthcare. The company says it plans to expand the round to $25 million by the end of Q1

Zipnosis, a Minneapolis-based online diagnosis and treatment platform for common medical conditions., has raised $17 million in Series A funding.Safeguard Scientifics led the round, and was joined by Ascension Ventures and return backers Fairview Health Services, Hyde Park Venture Partners, Arthur Ventures, Waterline Ventures and Omphalos Ventures

Athletigen Technologies Inc., a Nova Scotia-based sports genetics startup, has raised US$1.55 million in seed funding led by Exponential Partners

HealPros LLC, an Atlanta-based provider of mobile diabetic retinopathy eye examinations on behalf of healthcare payers, has raised an undisclosed amount of Series A funding led by Sopris Capital

Deciphera Pharmaceuticals, a Waltham, Mass.-based developer of kinase inhibitor treatments targeting tumors cells, has raised $15 million in new Series B funding from SV Life Sciences. This brings the round total to $90 million, including a previously-announced first tranche led by New Leaf Venture Partners

One Medical Passport Inc., a Wilmington, Conn.-based provider of cloud-based peri-operative medical software, has raised $4 million in Series A funding from FCA Venture Partners

Petra Pharma Corp., a New York-based cancer and metabolic therapeutics startup launched by Accelerator Corp., has raised $48 million in Series A funding. Backers include AbbVie, Alexandria Venture Investments, ARCH Venture Partners, Eli Lilly and Company, Harris & Harris Group, Inc., Innovate NY Fund, Johnson & Johnson Innovation, The Partnership Fund for New York City, Pfizer, Watson Fund and WuXi PharmaTech

Entac Medical Inc., a Memphis, Tenn.-based developer of noninvasive devices for the prediction and diagnosis of gastrointestinal and other medical conditions, has raised an undisclosed amount of Series A funding led by Innova Memphis

Flatiron Health, a New York-based cloud database platform for the oncology market, has raised $175 million in Series C funding. Roche led the round, and was joined by Allen & Company, Baillie Gifford and Casdin Capital. The company previously raised a $130 million Series B round in May 2014 at a $350 million post-money valuation

Guardant Health, a Redwood City, Calif.-based developer of biopsy-free cancer screening tests, has raised $100 million in Series D funding. OrbiMed Advisors led the round, and was joined by return backers Khosla Ventures, Felicis Ventures, Sequoia Capital, Lightspeed Venture Partners, Pejman Mar, Formation 8 and Heritage Group

C4 Therapeutics, a Cambridge, Mass.-based spinout from the Dana-Farber Cancer Institute, has raised $73 million in Series A funding. Cobro Venturesled the round, and was joined by The Kraft Group, EG Capital Group, Roche and Novartis. The company will focus on targeted protein degradation, and has named Jason Fishman — a former managing director with investment firms Synthesis Capital and Advent International — as CEO

Alector LLC, a San Francisco-based developer of immuno-modulatory therapies for Alzheimer’s disease and other neurodegenerative disorders, has raised $29.5 million in Series D funding. The Dementia Discovery Fund led the round, and was joined by fellow new investors Amgen Ventures and AbbVie. Existing shareholders include MRL Ventures, OrbiMed, Polaris Partners, Google Ventures, Topspin Partners and Mission Bay Capital

Elastagen Pty Ltd., an Australia-based developer of products based on proprietary recombinant human tropoelastin platform technology, has raised A$13 million in Series B funding. Korea Investment Partners, Amorepacific Ventures and the Wellcome Trust were joined by return backers Brandon Capital Partners, GBS Ventures and ATP Innovations

PushDoctor, a UK-based provider of on-demand physician consultation via online video, has raised $8.2 million in new VC funding. Oxford Capital Partners andDraper Esprit co-led the round, and were joined by Partech Ventures

Kolibree, maker of a connected electric toothbrush, has raised $4 million in VC funding from SOSV, SEB Alliance, Innovacom, Cap Horn and the Dental Investment Group for Health

Zymeworks Inc., a Vancouver-based developer of bi-specific antibodies and antibody drug conjugates for the treatment of cancer, autoimmune and inflammatory diseases, has raised US$61.5 million in new Series A funding. BDC Capital and Lumira Capital co-led the round, and were joined by Perceptive Advisors, Teralys Capital, Northleaf Venture Catalyst Fund, Brace Pharma Capital, Merlin Nexus and return backers Eli Lilly & Co., Celgene, CTI Life Sciences Fund, and the Fonds de solidarité FTQ. Zymeworks also has made a strategic equity investment in Kairos Pharmaceuticals, a spinout from The Centre for Drug Research and Development, which includes a future merger option

Exosome Diagnostics, a New York-based developer of fluid-based molecular diagnostics, has raised $33 million in new Series B funding (bringing the round total to $60m, including a first close in 2014). Backers include Forbion Capital Partners, NGN Capital, and CD Ventures, as well as new investors, Qiagen, Arcus Ventures, Tiger Management and Blue Ridge Capital

Aver Inc., a Columbus, Ohio-based provider of a data management platform for the healthcare reimbursement process, has raised $13.6 million in new VC funding.Heritage Group led the round, and was joined by Cardinal Health, GE Ventures, Hearst Health Ventures, NCT Ventures and StartUp Health

PierianDx, a St. Louis-based provider of genomic software and services for personalized medicine development, has raised $9.25 million in Series A funding.Health Catalyst Capital Management led the round, and was joined by Ocean Road Advisors, Inova Translational Medicine Institute and ARUP Laboratories

ASLAN Pharmaceuticals, a Singapore-based developer of immunotherapies and targeted agents for Asia prevalent tumor types, has raised $9 million in new VC funding from MVP Capital Partners. This brings the round total to $43 million, including a December first close led by Accuron Technologies Ltd., a wholly-owned subsidiary of Temasek Holdings

Hometeam, a 2.5-year-old, New York-based in-home-care company that promises personalized care planning, caregiver matching, and proactive case management, has raised $27.5 million in Series B funding led by Oak HC/FT. Earlier backers Lux Capital, IA Ventures and Recruit Strategic Partners also joined the round

Millendo Therapeutics, a three-year-old, Ann Arbor, Mi.-based biopharmaceutical company that’s aiming to treat orphan and specialty endocrine diseases, has raised $62 million in Series B funding led by New Enterprise Associates. Other particpants in the round include Roche Venture Fund,Adams Street Partners, Altitude Life Science Ventures, Longwood Fund, and Renaissance Venture Capital Fund, along with earlier backersFrazier Healthcare Partners, Osage University Partners, 5AM Ventures, and the Regents of the University of Michigan

Pathway Genomics, a 7.5-year-old, San Diego-based global clinical lab offering genetic tests for cancer risk, drug responses, and other conditions, has raised $40 million in Series E funding, including from IBM Watson, which is working with the company to develop a mobile app for personalized health and wellness guidance

NextCure, a new, New Haven, Ct.-based biopharmaceutical company focused on the discovery and development of new immuno-oncology products, has raised $67 million in Series A funding from Canaan Partners, Lilly Asia Ventures,OrbiMed Advisors, Pfizer, Sofinnova Ventures, and Alexandria Venture Investments

Xeris Pharmaceuticals, a 10-year-old, Austin, Tex.-based company that’s developing patient-friendly injectables for indications in diabetes, epilepsy, and immunology, has raised $41 million in Series C funding led by Redmile Group, with participation from Deerfield Management, Sabby Management, The McNair Group, and others

Zai Lab, a 1.5-year-old, Shanghai, China-based biopharmaceutical company, has raised more than $100 million in Series B funding led by Advantech Capital, with participation from OrbiMed and earlier backers Qiming Ventures,Sequoia Capital China, and TF Capital

PE Deals (11 deals)

Partners Group has agreed to acquire a minority equity stake in Hortifruti, a Brazilian health foods retailer with over US$255 million in annual revenue, fromBozano Investimentos. No financial terms were disclosed

The Riverside Company has acquired Euromed SA, a provider of standardized herbal extracts and natural active substances for the pharma, dietary supplement and cosmetic industries. No financial terms were disclosed. The seller was Swiss pharma company Meda

Argon Medical Devices Inc., a Plano, Texas-based portfolio company ofRoundTable Healthcare Partners, has acquired three vascular products from Rex Medical LLC for an undisclosed amount. The products are: the OptionElite Retrievable Vena Cava Filter, the Clearner Rotational Thrombectomy System and the UltraStream Chronic Hemodialysis Catheter

 The Carlyle Group and Bourne Partners have partnered to form Phoenix Therapeutics as a global pharmaceutical acquisition platform. Carlyle will hold a majority stake. No financial or additional strategic information was disclosed

Panasonic Healthcare Holdings, a joint venture between KKR andPanasonic Corp., has completed its previously-announced purchase of Bayer AG‘s diabetes care business for approximately €1 billion

DuPage Medical Group, an independent multi-specialty physician group with more than 60 locations in the Chicago area, has secured a $250 million equity and debt investment led by Summit Partners

Pharos Capital Group has acquired a control stake in Dermatology and MedSpa Inc. (fka The Dermatology Center), a provider of dermatology and medspa services in the Maryland and Washington, D.C. areas. No financial terms were disclosed

Avalon Healthcare Solutions, a Tampa, Fla.-based lab benefits management company, has raised an undisclosed amount of follow-on funding from existing shareholder Francisco Partners

Cortec Group has acquired The Center for Vein Restoration, a network of provider of venous insufficiency treatment clinics in the Mid-Atlantic region, from Waud Capital Partners. No financial terms were disclosed

Dental Care Alliance, a portfolio company of Harvest Partners, has acquired Northeast Dental Management, a Paramus, N.J.-based provider of dental support services, from Sentinel Capital Partners

MTS Health Investors has made a “strategic equity investment” in HCAA, a Nashville, Tenn.-based provider of offshore clinical resources to U.S. healthcare companies. No financial terms were disclosed

IPO Deals (9 deals)

Audentes Therapeutics Inc., a San Francisco-based developer of gene therapy products for patients with serious and rare diseases, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol BOLD, with BofA Merrill Lynch, Cowen & Co. and Piper Jaffray serving as lead underwriters. The company has raised around $108 million in VC funding from firms like OrbiMed Advisors (29.9% pre-IPO stake), 5AM Ventures (14.6%), Versant Ventures (11.1%), Sofinnova Venture Partners (7.8%) and Deerfield Management (6.3%)

Corvus Pharmaceuticals Inc., a Burlingame, Calif.-based developer of immuno-oncology therapies, has filed for a $115 million IPO. It plans to trade on the Nasdaq under ticker symbol CRVS, with Credit Suisse and Cowen & Co. serving as lead underwriters. Shareholders in the pre-revenue company include OrbiMed Advisors (29.98% pre-IPO stake), Novo AS (15.84%), Adams Street Partners (15.84%) and Fidelity (8.18%)

Editas Medicine, a Cambridge, Mass.-based genome editing company, has filed for a $100 million IPO. It plans to trade on the Nasdaq under ticker symbol EDIT, with Morgan Stanley and J.P. Morgan serving as lead underwriters. The pre-revenue company has raised around 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

Reata Pharmaceuticals Inc., an Irving, Texas-based developer of protein-based antioxidant inflammation modulators for serious or life-threatening diseases, has filed for an $80 million IPO. The company plans to trade on the Nasdaq under ticker symbol RETA, with Citigroup, Cowen & Co. and Piper Jaffray serving as lead underwriters. The company reports $296,000 in net income on $37.79 million in revenue for the first nine months of 2015. Shareholders include Abbott Labs, Cardinal Investment Company, CPMG Inc., Novo AS, StartTech Early Ventures and Kern Whalen Capital

Syndax Pharmaceuticals Inc., a Waltham, Mass.-based developer of entinostat as a combination therapy in multiple cancer indications, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol SNDX, with Morgan Stanley and Citigroup serving as co-lead underwriters. The pre-revenue company has raised over $170 million in VC funding — including an $80 million Series C round last year — from firms like Domain Associates (19.6% pre-IPO stake), MPM Capital (16.7%), Fidelity (11.2%), Delos Investments (9.1%), RMI Investments (7.5%), BlackRock (5.3%), EcoR1 Capital, OrbiMed Advisors, Jennison Associates, Tavistock Life Sciences, Arrowpoint Partners, Cormorant Asset Management, BioMed Ventures, RusnanoMedInvest and Forward Ventures

Tabula Rada Healthcare Inc., a Moorestown, N.J.-based provider of patient-specific data solutions for optimizing medication regimes, has filed for a $115 million IPO. It plans to trade on the Nasdaq under ticker symbol TRHC, with Wells Fargo and UBS serving as lead underwriters. The company reports a $4 million net loss on $50 million in revenue for the first nine months of 2015. Shareholders include Originate Ventures, Radius Venture Partners and Emerald Stage2 Ventures

21st Century Oncology, a Fort Myers, Fla.-based provider of radiation therapy and other services to cancer patients in the United States and Latin America, withdrawn registration for an IPO. This comes shortly after The Canada Pension Plan Investment Board agreed to invest $325 million into the company, which remains majority-owned by Vestar Capital Partners

 Spring Bank Pharmaceuticals Inc., a Milford, Mass.-based developer of drugs based on a proprietary small molecule nucleic acid hybrid, has filed for a $57.5 million IPO. It plans to trade on the Nasdaq under ticker symbol SBPH, with William Blair listed as left lead underwriter

Visterra Inc., a Cambridge, Mass.-based developer of drugs for infectious diseases like seasonal and pandemic influenza, has filed for a $69 million IPO. It plans to trade on the Nasdaq under ticker symbol VIST, with Leerink Partners listed as left lead underwriter. Shareholders include Polaris Partners (25% pre-IPO stake), Flagship Ventures (21.9%), Merck Research Labs (12.3%), Bill & Melinda Gates Foundation (8.4%), Omega Funds and Alexandria Venture Investments

Other Deals (6 deals)

Acadia Healthcare Co. (Nasdaq: ACHC) has agreed to acquire Priory Group, a UK-based provider of behavioral healthcare services, for approximately $2.23 billion in cash and stock. Acadia Healthcare investors includeWaud Capital(12.5% stake) and Bain Capital (4.82%), while Priory is backed by Advent International

Symphogen, a Copenhagen-based developer of antibody therapeutics, has signed a strategic immuno-oncology collaboration agreement with Baxalta Inc.(NYSE: BXLT) that could be worth a total of $1.6 billion — including option fees and milestones, plus $175 million in upfront payments. Symphogen shareholders include Novo AS, PKA and Danica Pension

NuVasive (Nasdaq: NUVA) has agreed to pay $380 million in cash to acquireEllipse Technologies, an Aliso Viejo, Calif.-based developer of devices for orthopedic implant systems. The deal also includes $30 million in additional earn-outs. Ellipse recently filed for an IPO, and said that its shareholders include HBM Healthcare Investors (29.9% stake), Wexford Capital (18%) and HBM-MedFocus (12.9%)

Charles River Laboratories (NYSE: CRL) has agreed to acquire WIL Research, an Ashland, Ohio-based provider of non-clinical safety assessment and contract development and manufacturing services to biopharma, agricultural and industrial chemical companies. The deal is valued at $585 million

Conmed Corp. (Nasdaq: CNMD) has completed its previously-announced acquisition of SurgiQuest Inc., a Milford, Conn.-based maker of technologies for minimally-invasive surgery, for $270 million in cash. In related news, SurgiQuest has withdrawn its IPO registration. Surgiquest reported a $15 million net loss on $35 million in revenue for the first nine months of 2015. Sellers included CMEA Capital (27.9% stake), River Cities Capital (10.9%), Fletcher Spaght Ventures (10.5%), California Technology Ventures(10.5%) and Mosaix Ventures (6.5%)

HealthpointCapital has sold Blue Belt Holdings, a Plymouth, Minn.-based provider of robotic-assistance instruments for unicondylar or partial knee replacement surgery, to Smith & Nephew (LSE: SN) for approximately $275 million in cash

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

The Propell Group

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