Disrupted Healthcare – Deals and investments this week

VC Deals

CareSync, a Tampa, Fla.-based provider of software and services for chronic disease management, has raised $18 million in Series B funding. Merck Global Health Innovation Fund, Greycroft Partners and Harbert Venture Partners were joined by return backers Tullis Health Investors, Clearwell Group, CDH Solutions and Travis Bond

Binary Fountain, a McLean, Va.-based provider of health care reputation management and patient experience analytics, has raised $16 million in Series A funding. HLM Venture Partners led the round, and was joined by return backers Providence Health & Services and Pioneer Venture Partners

Quartet Medicine, a Cambridge, Mass.-based developer of treatments for chronic pain and inflammation, has raised $6.25 million in new Series A funding (round total is now $23.25m). Backers include Atlas Venture, Novartis Venture Funds, Partners Innovation Fund, Pfizer Venture Investments, Remeditex and two undisclosed Shanghai-based strategic investors

Procyrion, a Houston-based developer of a device to treat chronic heart failure, has raised $10 million in new VC funding from Scientific Health Development and Fannin Innovation Studio

Opsonix Inc., a Cambridge, Mass.-based developer of pathogen-extracting therapies for the treatment of blood-borne infectious diseases like sepsis, has raised $8 million in Series A funding led by Baxter Ventures

Clue, a Berlin-based fertility and menstrual cycle tracker, has raised $7 million in Series A funding from Union Square Ventures and Mosaic Ventures

TVA Medical, a seven-year-old, Austin, Tex.-based medical device company developing minimally invasive therapies for patients suffering from end-stage renal disease, has raised $15 million in Series C funding led by Baxter Ventures, with participation from Boston Scientific Corporation and earlier backers Sante Ventures, S3 Ventures, TriStar Technology Ventures, among others

A new Indonesian health care startup Konsula has secured seed funding of an undisclosed amount from local VC firm East Ventures. The startup bills itself at the answer to the nation’s disparity in health care services

PE Deals

BC Partners, Bridgepoint and Charterhouse Capital Partners are among those bidding to purchase French pharma company Cooper from private equity firm Caravelle, according to Bloomberg. Asale could be worth around €700 million

The Blackstone Group has agreed to acquire BioMed Realty Trust (NYSE: BMR), a San Diego-based REIT focused on office and lab space for life sciences companies, for around $8 billion (including assumed debt). The $23.75 per share price represents a 10% premium over yesterday’s closing price

Motion PT Holdings, a provider of physical therapy and occupational therapy services in New York, has acquired New York-based Bradley & Monson Physical Therapy. No financial terms were disclosed. Motion PT is a portfolio company of Pharos Capital Group

PSKW, a Bedminster, N.J.-based provider of patient prescription medication assistance solutions and payment reimbursement services, has secured an undisclosed amount of private equity funding from Genstar Capital

IPO Deals

PLX Pharma Inc., a Houston-based developer of an oral drug delivery system that is designed to increase safety and efficacy, has filed for a $20 million IPO. It plans to trade on the Nasdaq under ticker symbol PLXP, with Maxim Group serving as sole underwriter. Shareholders include Integra Venture (6.6% pre-IPO stake) and Aurus Bios Fondo de Inversion Privado (6.3%)

Aclaris Therapeutics Inc., a Malvern, Penn.-based developer of dermatological therapeutics, raised $55 million in its IPO. The pre-revenue company priced 5 million shares at $11 per share (below $14-$16 range), for an initial market cap of around $213 million. It will trade on the Nasdaq under ticker symbol ACRS, while Jefferies and Citigroup served as lead underwriters. Aclaris has raised $31.5 million in VC funding from Vivo Ventures (31.2% pre-IPO stake), Fidelity Biosciences (28.5%) and Sofinova Ventures (12%)

CytomX Therapeutics, a South San Francisco-based developer of cancer therapeutics, raised $80 million in its IPO. The company priced 6.7 million shares at $12 per share (below $14-$16 offering range), for an initial market cap of approximately $419 million. It will trade on the Nasdaq under ticker symbol CTMX, while BofA Merrill Lynch, Jefferies and Cowen & Co. served as lead underwriters. The company reports around a $12 million net loss on nearly $4 million in revenue for the first half of 2015. It has raised over $130 million in VC funding, including a $70 million Series D round this past June. Shareholders include Third Rock Ventures (30.8% pre-IPO stake), Canaan Partners (17.4%), Fidelity (8.7%), Roche (6.8%), Pfizer (5.7%), Casdin Capital, Cormorant Asset Management, Deerfield Management, Perceptive Advisors, Redmile Group, Tekla Healthcare Investors, Tekla Life Sciences Investors, Venrock and Wellington Management Co

Other Deals

AmerisourceBergen (NYSE: ABC) has agreed to acquire PharMEDium Healthcare Holdings, a Lake Forrest, Ill.-based provider of outsourced compounded sterile preparations, for $2.575 billion in cash from Clayton Dubilier & Rice. PharMEDium had recently filed for an IPO, reporting $9.3 million of net income on around $209.5 million of revenue for the first half of 2014. It had been acquired by Clayton Dubilier & Rice in early 2014 for around $900 million

ICU Medical Inc. (Nasdaq: ICUI) has agreed to sell the operating assets ofSwabFlush and its pre-filled saline and heparin flush syringes to Medline Industries Inc. (Mundelein, Ill.) for $27 million

Hepalink USA Inc., a subsidiary of Shenzhen Hepalink Pharmaceutical Co. (SZSE: 002399), has acquired Cytovance Biologics Inc., an Oklahoma City-based biopharma contract development manufacturing company, from Great Point Partners for $205.68 million in cash

Astorg Partners has hired Rothschild to explore a sale of Ethypharm, a French drug developer focused on treatment of pains and addictions. A deal could be worth between €700 million and €800 million

Adheron Therapeutics, an 11-year-old, Berkeley, Ca.-based biotech company focusing on the disruption of cell adhesion to treat a variety of diseases, is being acquired by Roche Holding for $105 million in cash, plus additional contingent payments of up to $475 million

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

The Propell Group

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