Disrupted Healthcare – Global Deals and Investments – 39 Transactions This Week

VC Deals (20 deals, $721M)

DalCor Pharmaceuticals, a Montreal-based developer of cardiovascular disease treatments that genetically targets patients, has raised US$100 million in Series B funding. Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ and CTI Life Sciences were joined by return backers Sanderling Ventures and André Desmarais. The company previously raised $50 million

Caribou Biosciences, a Berkeley, Calif.-based CRISPR technology company, has raised $30 million in Series B funding. Anterra Capital, Heritage Group, Maverick Capital Ventures, and Pontifax AgTech were joined by return backers F-Prime Capital Partners, Novartis, Mission Bay Capital and 5 Prime Ventures

BioSight Ltd., an Israel-based developer of “chemotherapy pro-drugs with reduced toxicity,” has raised $13 million in new VC funding. Arkin Holdingsand Primera Capital co-led the round, and were joined by return backer Michael Illan Management & Investments

Inotec AMD, a UK-based maker of mobile medical devices designed to heal chronic, hypoxic wounds, has raised an undisclosed amount of equity funding from Amadeus Capital Partners

Allurion Technologies, a Wellesley, Mass.-based maker of anti-obesity treatment devices, has raised $6 million in new VC funding led by Romulus Capital

6SensorLabs, a maker of food allergy testing devices, has raised $9.2 million in Series A funding. Foundry Group led the round, and was joined by Upfront Ventures, SoftTech VC, SK Ventures, Lemnos Labs, Mitch Kapor and Matt Rogers

Dojo Madness, a virtual eSports coaching app, has raised $4.5 million in Series A funding. March Capital Partners led the round, and was joined by the Investment Bank of Berlin and return backers DN Capital and London Venture Partners

Empire Genomics, a Buffalo, N.Y.-based molecular diagnostics company, has raised $1.75 million in new VC funding from return backers BroadOak Capital Partners and Rand Capital Corp

Virtual Health, a New York-based population health management platform, has raised an undisclosed amount of growth equity funding led by Edison Partners

Ping An Good Doctor, a medical service mobile app, backed by Ping An Insurance (Group), announced a Series A funding round of a total of US$500 million #healthtechasia

Chinese workout mobile app KEEP has snapped up a $32 million series C funding round led by Hong Kong-based private equity and venture capital firm Morningside Ventures and multi-stage VC investor GGV Capital, according to a China Money Network report. #healthtechasia

Irras, a four-year-old, Stockholm, Sweden-based commercial-stage med tech company whose devices aim to address a broad range of brain pathology therapeutic applications and procedures, has raised $11.3 million in funding fromSerendipity/Ixora, The Vandel Group, and unnamed, individual healthcare investors in Sweden

Allurion, a six-year-old, Wellesley, Ma.-based startup that makes a non-invasive gastric balloon that can be swallowed and expands in the stomach, has raised $6 million in new funding from Romulus Capital, bringing its total funding to date to $11 million

Agenovir Corporation, a year-old, South San Francisco, Ca.-based company that’s using computationally engineered nuclease technology to develop antiviral therapeutics, has raised $10.6 million in Series A funding led by Data Collective, with participation from Celgene Corporation, Lightspeed Venture Partners and individual investors

Mitochon Pharmaceuticals, a two-year-old, Blue Bell, Pa.-based biotech company that focuses on developing drugs which target the mitochondria for a host of serious diseases, has raised $1.6 million in funding from Ben Franklin Technology Partners and private investors

Purigen Biosystems, a four-year-old, Pleasanton, Ca.-based company that’s developing a platform for the extraction and purification of nucleic acids from biological samples, has raised $18.2 million in Series A funding from 5AM Ventures, Roche Venture Fund and earlier backers Stanford-Startx Fundand Western Investments Capital

Afero, a two-year-old, Los Altos, Ca.-based cloud company that secures connected devices — from toys and arcade games to medical equipment — has raised $20.3 million in Series A funding led by Samsung Catalyst Fund, with participation from Presidio Ventures, Sanshin Electronics,SoftBank,Fenox Venture Capital, Assembly Fund, and Linear Technology co-founder Robert Dobkin

Decisio Health, a three-year-old, Houston, Tex.-based startup that aims to help acute-care provider organizations improve their clinical processes, has raised $4.5 million in Series A funding led by Declatex, with participation from theUniversity of Texas Horizon Fund

The California Health Care Foundation (CHCF) Health Innovation Fund has invested $725,000 in Encino, California-based mPulse Mobile

Philadelphia-based Noble.MD, which has developed a patient health risk assessment tool, raised $1.45 million from Safeguard Scientifics and BioAdvance to launch two new products

PE Deals (8 deals)

Apollo Global Management and Cinven are among those weighing bids forTeva Pharmaceutical Industries Ltd.’s (NYSE: TEVA) generic drug portfolio in the UK, Ireland and Iceland, according to Bloomberg. The deal could be worth between $1.5 billion and $2 billion, with Mylan NV and Novartis also expected to have interest. Greenhill & Co. is managing the process

Bolder Healthcare Solutions, a Louisville, Ky.-based portfolio company ofEdgewater Funds, has acquiredProspective Payment Specialists Inc., an El Segundo, Calif.-based provider of medical coding and revenue cycle solutions to hospitals and other healthcare facilities. No financial terms were disclosed

New MainStream Capital has acquired Constellation Behavioral Health, a Mill Valley, Calif.-based provider of treatment programs for addiction, mental health and co-occurring behavioral health disorders. No financial terms were disclosed. Sellers include Alpine Investors

Centauri Health Solutions Inc., a Scottsdale, Ariz.-based provider of risk adjustment software, has raised $50 million in growth equity funding fromSilversmith Capital Partners

LLR Partners has acquired Learn It Systems, a Baltimore-based provider of behavioral health services for children with autism and other special needs, from Milestone Partners

ABRY Partners has agreed to acquire a majority stake in Oliver Street Dermatology Holdings LLC, a Dallas-based dermatology practice management organization. No financial terms were disclosed

Harvest Partners has recapitalized Advanced Dermatology & Cosmetic Surgery, a Maitland, Fla.-based dermatology practice with over 140 locations. Previous sponsor Audax Private Equity will retain a minority equity stake, alongside company management. No financial terms were disclosed, although theWSJ reports a sale price in excess of $600 million

Polaris Private Equity has acquired Akademikliniken, a Sweden-based provider of cosmetic and reconstructive surgeries, from Valedo Partners. No financial terms were disclosed

IPO Deals (6 deals)

Oncobiologics, a Cranbury, N.J.-based developer of biosimilar therapeutics, raised $35 million in its IPO. The company priced 5.8 million shares at $6 per share (it had originally planned to price at between $11-$13 per share), for an initial market cap of around $137 million. It will trade on the Nasdaq under ticker symbol ONS, while Jefferies and Barclays served as lead underwriters. Oncobiologics had raised over $43 million in VC funding, from firms like Perceptive Advisors,Cormorant Global Healthcare Master Fund, Longwood Capital Partners, venBio Select Fund, Proximare Lifesciences Fund, OSSB Pharma Fund and MIH Fund

Basic-Fit, a Dutch fitness center chain owned by 3i Group, is prepping an Amsterdam IPO for later this year that could value the company at around $1.1 billion

Reata Pharmaceuticals Inc., an Irving, Texas-based developer of protein-based antioxidant inflammation modulators for serious or life-threatening diseases, has set its IPO terms to 4 million shares being offered at between $14 and $16 per share. It would have an initial market cap of around $300 million, were it to price in the middle of its range. The company plans to trade on the Nasdaq under ticker symbol RETA, with Citigroup, Cowen & Co. and Piper Jaffray serving as lead underwriters. Reata 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

Merus BV, a Dutch immuno-oncology company focused on bispecific antibody therapeutics, raised $55 million in its IPO. The company priced 5.5 million shares at $10 per share, compared to original plans to offer 4.33 million shares at between $14 and $16 per share. The company will trade on the Nasdaq under ticker symbol MRUS, while Citigroup and Jefferies served as lead underwriters. Merus had raised over $170 million in VC funding (which is more than its initial public market cap of $158m) from firms like Novartis Bioventures (13.7% pre-IPO stake), Bay City Capital (13.7%), Aglaia Oncology Fund (11%), Johnson & Johnson (10.6%), Pfizer Inc. (9.1%), Sofinnova Venture Partners (8.2%), Novo AS (7.8%), Baker Brothers Life Sciences (7.2%) and Cooperatief LSP (6.8%)

PhaseRx Inc., a Seattle-based developer of products for the treatment of inherited enzyme deficiencies in the, raised $19 million in its IPO. The pre-revenue company priced 3.7 million shares at $5 per share (low end of $5-$7 range), and will trade on the Nasdaq under ticker symbol PZRX. Laidlaw & Co. and Roth Capital served as underwriters. Shareholders include 5AM Ventures, Alexandria Equities, Arch Venture Partners, Savoy Therapeutics and Versant Ventures

Pulse Biosciences, a Burlingame, Calif.-based developer of solid tumor treatments that are based on pulsed electric fields, raised $20 million in its IPO. The company priced 5 million shares at $4 per share, and will trade on the Nasdaq under ticker symbol PLSE. MDB Capital Group and Feltl & Co. served as underwriters

Other Deals (5 deals)

Shanghai Fosun Pharmaceutical has offered to acquire Gland Pharma, an Indian injectable drug-maker owned by KKR. No financial terms were disclosed, but Gland reportedly could be valued at around $1.5 billion

Pfizer (NYSE: PFE) has agreed to acquire Palo Alto, Calif.-based Anacor Pharmaceuticals Inc. (Nasdaq: ANAC) for approximately $4.5 billion in cash ($5.2 billion including debt), or $99.25 per share (55% premium over Friday’s closing price)

FitBit (NYSE: FIT) has acquired Coin, a San Francisco-based smart credit card maker, for an undisclosed amount. Coin had raised around $17 million in VC funding, from firms like Redpoint Ventures, Sherpa Ventures, Spark Capital, K5 Ventures and SoftTechVC

Onex Corp. has relaunched an auction process for Carestream Health, a Rochester, N.Y.-based medical imaging company that could be valued at more than $3 billion (including debt), according to Reuters. Onex had originally tried to sell Carestream in 2013, but ended the process after private equity bids came in too low. This new process includes a possible breakup of the company, with Goldman Sachs hired to sell Carestream’s film and digital medical imaging business, and Jefferies hired to find a buyer for its dental imaging business

Acadia Healthcare Co. (Nasdaq: ACHC) has acquired Nevada-based Polaris Hospital Holdings and its wholly-owned subsidiary, TrustPoint Hospital in Murfreesboro, Tenn., from HCP & Co. No financial terms were disclosed

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

The Propell Group

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