Disrupted Healthcare – Deals and Investments This Week

VC Deals

Doctolib, a French platform for booking doctor appointments, has raised €18 million in Series B funding led by Accel Partners

FabFitFun, a Los Angeles-based “lifestyle brand inspiring women to lead happier, healthier lives,” has raised $3.5 million in first-round funding co-led by New Enterprise Associates and Upfront Ventures

Health Gorilla, a Sunnyvale, Calif.-based online healthcare marketplace for connecting doctors and clinicians with diagnostic labs and radiology centers, has raised $2.4 million in Series A funding. Data Collectiveled the round, and was joined by True Ventures, Harris Barton, Orfin Ventures and Venture Investment Associates

Minoryx Therapeutics, a Spain-based developer of drugs for orphan diseases, has raised €19.4 million in Series A funding. Ysios Capital led the round, and was joined by Kurma Partners, Roche Venture Fund, Idinvest Partners, Chiesi Ventures and return backers Caixa Capital Risc and HealthEquity

23andMe, a Mountain View, Calif.-based genetic testing and data company, has raised $115 million in Series E funding at a reported $1.1 billion valuation. Fidelity led the round, and was joined by Casdin Capital, WuXi Healthcare Ventures, Xfund and return backers Google Ventures, New Enterprise Associates, Illumina Inc. and MPM Capital

Decibel Therapeutics, a Cambridge, Mass.-based developer of medicines to protect, repair and restore hearing, has raised $52 million in Series A funding.Third Rock Ventures led the round, and was joined by SR One

Galera Therapeutics Inc., a Malvern, Penn.-based developer of cancer treatments, has raised $37 million in Series B funding. Novo Ventures led the round, and was joined by New Enterprise Associates, Novartis Venture Fund, Correlation Ventures and Galera Angels

DrFirst, a Rockville, Md.-based provider of healthcare IT solutions, has raised $25 million in equity funding from Goldman Sachs

Hatch Baby, a Menlo Park, Calif.-based developer of wireless-enabled smart parenting devices, has raised $7 million in Series A funding led by True Ventures

MycoTechnology, an Aurora, Colo.-based food-tech company that uses mushrooms to improve the taste of foods and beverages, has raised $9.2 million in Series A funding from Seed 2 Growth Ventures, Seventure Partners and Middleland Capital

Opsonix, a new, Cambridge, Ma. based company with technology to remove infectious microbes and toxins from circulating blood in a bid to treat sepsis and other infectious diseases, has launched with $8 million in Series A funding led by Baxter Ventures, with participation from Swiss billionaire Hansjörg Wyss

Audentes Therapeutics, a two-year-old, San Francisco-based gene-therapy company, has raised $65 million in Series C fundingco-led by earlier backerSofinnova Ventures and new investor Redmile Group. Other participants in the round include RA Capital Management, T. Rowe Price Associates, Rock Springs Capital, Cormorant Asset Management, Cowen Private Investments and Foresite Capital

Figure 1, a nearly three-year-old, Toronto-based crowdsourced medical image library for healthcare professionals (they can share patient photos to obtain feedback), has raised $5 million in new funding led by earlier investor Union Square Ventures, with participation from other earlier backers, including Rho Canada, Version One Ventures and Graph Ventures. Allen & Co. and individual investors also joined the round

Lyra Health, a 10-month-old, Burlingame, Ca.-based company aiming to help employers and health plans better manage populations of people with behavioral-health illnesses, has raised $35 million in Series A funding led byGreylock Partners, with participation from Breyer Capital, Providence Health & Services, Origin Capital Management, Castlight Health, and earlier backer Venrock

Hermo, a 3.5-year-old, Malaysia-based online cosmetics and skincare marketplace, has raised $2 million in Series A funding from Gobi Partners

Alternate medicine platform Welcome Cure has raised US$6 million in pre-Series A funding from a pool of investors. The monies include US$5 million from an India-based media house and US$1 million from high-net-worth individuals. The Mumbai-headquartered company plans to invest the funds in its on-going expansion and marketing strategies.

PE Deals

GHO Capital has acquired DNA Diagnostics Center, a Fairfield, Ohio-based DNA testing company, for $110 million from MTS Health Investors

Community Intervention Services Inc., a Brockton, Mass.-based portfolio company of H.I.G. Capital, has acquired Northstar Psychological Services Inc., an Alpharetta, Ga.-based provider of behavioral health services. No financial terms were disclosed

Webster Capital has acquired MedMark Services Inc., a Lewisville, Texas-based provider of opioid treatment, from CHL Medical Partners and Capital Resource Partners. No financial terms were disclosed

IPO Deals

Voyager Therapeutics, a Cambridge, Mass.-based developer of gene therapy solutions for fatal and debilitating CNS diseases, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol VYGR, with Cowen & Co. and Piper Jaffray serving as lead underwriters. The company 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

Dimension Therapeutics Inc., a Cambridge, Mass.-based developer of liver-directed treatments for genetic disorders, has set its IPO terms to 5.5 million shares being offered at between $14 and $16 per share. It would have an initial market cap of around $373 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol DMTX, with Goldman Sachs and Citigroup serving as lead underwriters. Dimension Therapeutics reports a $15.4 million net loss on $3.3 million in revenue for the first half of 2015. It has raised over $120 million in VC funding from Fidelity Biosciences (36.1% pre-IPO stake), OrbiMed Advisors (26.8%), New Leaf Venture Partners (5.7%), Jennison Associates, Partner Fund Management, RA Capital Management, Rock Springs Capital and Tourbillon Global Ventures

Axsome Therapeutics Inc., a New York-based developer of drugs to treat pain and CNS disorders, has filed for a $57.5 million IPO. The pre-revenue company plans to trade on the Nasdaq under ticker symbol AXSM, with Ladenburg Thalmann serving as sole underwriter

SynCardia Systems Inc., a Tucson, Ariz.-based developer of an artificial heart, has withdrawn IPO registration. The company had planned to offer 2.5 million shares at between $10 and $12 per share, with Roth Capital Partners serving as underwriter. SynCardia reports an $18.6 million net loss on $8.7 million in revenue for the first six months of 2015. Shareholders include SWK Holdings (30.4% pre-IPO stake), Athyrium Capital Management, Highway 12 Ventures and Delta Electronics Capital

Apellis Pharmaceuticals, a Louisville, Ky.-based developer of immunotherapies, has filed for an $86.25 million IPO. It plans to trade on the Nasdaq under ticker symbol APLS, with Citigroup listed as left-lead underwriter. The pre-revenue company has raised around $55 million in VC funding, from Morningside Ventures  (32.6% pre-IPO stake), AJU IB Investment (7.2%) and Epidarex Ventures

Cerecor Inc., a Baltimore-based developer of drugs to treat neurological and psychiatric disorders, raised $26 million in its IPO. The company priced 4 million shares at $6 per share, compared to plans to offer 4.23 million shares at between $6 and $7 each. The pre-revenue company will trade on the Nasdaq under ticker symbol CERC, while The Maxim Group served as sole underwriter. Shareholders include New Enterprise Associates (12.9% pre-IPO stake), Apple Tree Partners (12.9%) and MPM Capital (12.9%)

Other Deals

Johnson & Johnson (NYSE: JNJ) has launched a $10 billion share buyback program

Platinum Equity has agreed to sell the parent company of DMS Health Technologies Inc., a Fargo, N.D.-based provider of mobile diagnostic imaging and related services, to Digirad Corp. (Nasdaq: DRAD) for $36 million in cash

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

The Propell Group

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