Disrupted Healthcare – 26 Deals and Investments This Week

VC Deals (14 deals, $287M)

KFit, a Malaysia-based provider of trial and class-based gym access (i.e., ClassPass for Asia), has raised $12 million in Series A funding. Venturra Capital led the round, and was joined by SIG, Axiata Digital Innovation Fund and return backers Sequoia Capital India and 500 Startups

PhotoSonix Medical Inc., an Ambler, Penn.-based maker of a light and ultrasound device for treating acne, has raised $1.4 million in VC funding.Princeton BioPharma Capital Partners led the round, and was joined by Ben Franklin Technology Partners and individual angels

Mission Therapeutics, a UK-based drug developer focused on selectively targeting deubiquitylating enzymes to treat cancer, neurodegenerative and other diseases, has raised £60 million in new funding. Imperial Innovations led the round, and was joined by Woodford Patient Capital Trust and return backers Sofinnova Partners, SR One, Roche Venture Fund and Pfizer Venture Investments

Spero Therapeutics, a Cambridge, Mass.-based developer of treatments for bacterial infections, has raised $30 million in Series B funding. Return backers include Atlas Venture, S.R. One, Partners Innovation Fund, MRL Ventures, Lundbeckfond Ventures and The Kraft Group

Pear Therapeutics, a Boston-based developer of prescription digital therapies, has raised $20 million in new VC funding. Backers include 5AM Ventures, Arboretum Ventures, JAZZ Venture Partners and Bridge Builders Collaborative

Enyo Pharma, a French developer of treatments for acute and chronic viral infections, has raised €22 million in Series A funding. Sofinnova Partners led the round, and was joined by Morningside Ventures and Bpifrance

EpiBiome, a South San Francisco-based microbiome engineering company, has raised $6 million in Series A funding. Backers include Viking Global Investors, Matrix Capital Management, Alexandria Venture Investments, SV Tech Ventures and China Rock Capital Management

Silk Therapeutics Inc., a Boston-based skincare line, has raised $6 million in Series A2 funding. Existing backer The Kraft Group led the round, and was joined by new investors Lear Corp., Highland Consumer Partners, BML Group, Altman Health Investments, Sheri and Roy Disney, Richard Sackler and Summer Road LLC

Galera Therapeutics Inc., a Malvern, Penn.-based developer of cancer treatments, has raised $5 million in new VC funding from Enso Ventures. This brings the round total to $42 million, including a prior close from New Enterprise Associates, Novartis Venture Fund, Novo Ventures, Correlation Ventures and Galera Angels

BioDirection Inc., a Boston-based developer of rapid point-of-care products for the management of concussions and other traumatic brain injuries, has raised over $4 million in Series B convertible preferred stock funding. Investors includeProvident Healthcare Capital

Aira.IO, a San Diego-based developer of remote assistance technology for the blind and visually impaired, has raised $2.5 million in Series A funding. Lux Capitaland ARCH Venture Partners co-led the round, and were joined by Felicis Ventures, Larry Bock and Scott Belsky

Aprecia Pharmaceuticals, a 12-year-old, Langhorn, Pa.-based company that develops and manufactures precision drug delivery systems and products, including an epilepsy treatment that it developed through 3D printing technology, has raised $35 million in new funding led by Deerfield Management, with participation from JW Asset Management. Aprecia also converted $44 million in convertible debt to equity according to VentureWire. The company’s debtholders included Great American Insurance Co.and Scion Cos

Zendrive, a 2.5-year-old, San Francisco-based startup that uses smartphone sensors to measure drivers’ behavior, has raised $13.5 million in Series A funding led by Sherpa Capital, with participation from Nyca PartnersThomvest Ventures, and earlier backers First Round Capital, BMW i Ventures,Fontinalis Partners. Tad Montross, who’s the chairman and CEO of General Re Corporation, also joined the round

Fit Pay, a 1.5-year-old, San Francisco-based payment platform for wearable devices, has raised  $3.1 million in seed funding led by Giesecke & Devrient, a supplier of mobile security products,  with participation from the startup accelerator Plug and Play Tech Center

PE Deals (3 deals)

Altamont Capital Partners has acquired Excel Fitness Holdings Inc., the largest Planet Fitness franchisee in Texas. No financial terms were disclosed

ZEST Anchors Inc., an Escondido, Calif.–based portfolio company of Avista Capital Partners, has acquired Danville Materials LLC, a San Ramon, Calif.-based maker of restorative consumables and small equipment for the dental market, from Inverness Graham Investments. No financial terms were disclosed

Centre Lane Partners has agreed to acquire Vitamin World, the U.S. retail business of NBTY Inc. No financial terms were disclosed. NBTY is a Ronkonkoma, N.Y.-based nutritional supplements company owned by The Carlyle Group

IPO Deals (4 deals)

AveXis Inc., a Bannockburn, Ill.-based developer of gene therapies for patients with severe genetic and orphan diseases like spinal muscular atrophy, has set its IPO terms to 4.25 million shares being offered at between $19 and $21 per share. It would have an initial market cap of around $438 million, were it to price in the middle of its range. The pre-revenue company plans to trade on the Nasdaq under ticker symbol AVXS, while Goldman Sachs and Jefferies served as lead underwriters. Shareholders in AveXis include PBM Capital (15% pre-IPO stake), Deerfield Management (9.9%), JDH Investment Management (9.5%), Roche Finance (8.4%), White Rock Capital Partners (6.6%), Third Security (6.6%), T. Rowe Price (5.4%), Venrock (5.3%), Janus Capital Management, Adage Capital Management, RA Capital Management, QVT Financial, Rock Springs Capital Management, Foresite Capital Management, RTW Investments and Boxer Capital

Proteostasis Therapeutics Inc., a Cambridge, Mass.-based developer of therapeutics to treat diseases caused by defects in protein processing, has set its proposed IPO terms to 3.85 million shares being offered at between $12 and $14 per share. It would have an initial market cap of around $217 million, were it to price in the middle of its range. The pre-revenue company plans to trade on the Nasdaq under ticker symbol PTI, with Leerink Partners and RBC Capital Markets serving as lead underwriters. Proteostasis Therapeutics has raised over $50 million in VC funding, from firms like Elan Science One (21.6% pre-IPO stake), New Enterprise Associates (17.1%), Healthcare Ventures (13.9%), Fidelity Biosciences (11.7%), Novartis Bioventures (11.6%), Sanofi-Genzyme BioVentures (5.8%) and Cormorant Asset Management

BeiGene Ltd., a Beijing-based developer of immune-oncology therapeutics, raised $158.4 million in its IPO. The company priced 6.6 million American depository shares at $24 per share, compared to original plans to offer 5.5 million ADS at between $22 and $24 per share. It will trade on the Nasdaq under ticker symbol BGNE, while Goldman Sachs, Morgan Stanley and Cowen & Co. served as lead underwriters. The company reports a $15.8 million net loss on $2.8 million in revenue for the first six months of 2015. BeiGene has raised over $170 million in VC funding from Baker Brothers Life Sciences (25.8% pre-IPO stake), Hillhouse Capital (9.9%), Merck Sharp & Dohme Research (7.7%) and CTIC Capital Partners (6.4%)

Editas Medicine, a Cambridge, Mass.-based genome editing company, raised $94 million in its IPO. The company priced 5.9 million shares at $16 per share (low end of offering range), for an initial market cap of around $571 million. The pre-revenue company will trade on the Nasdaq under ticker symbol EDIT, while Morgan Stanley and J.P. Morgan served as lead underwriters. Editas has raised around $210 million 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

Other Deals (5 deals)

Stryker Corp. (NYSE: SYK) has agreed to acquire Sage Products LLC, a Cary, Ill.-based developer of products used to prevent hospital-acquired conditions, fromMadison Dearborn Partners for $2.775 billion

Charterhouse is seeking a buyer for Italian generic drugmaker Doc Generici, according to Reuters, with price expectations ranging from €650 million to €700 million

Mattel Inc. (NYSE: MAT) has acquired Sproutling, a San Francisco-based provider of wearable sleep monitors for infants. No financial terms were disclosed. Sproutling had raised over $6 million in VC funding from Lemnos Labs (where the company was incubated), First Round Capital, Forerunner Ventures, FirstMark Capital, Accelerator Ventures, BoxGroup and Shawn Fanning

Abbott Laboratories (NYSE: ABT) has agreed to acquire Alere Inc. (NYSE: ALR), a Waltham, Mass.-based provider of point-of-care diagnostic tests, for around $5.8 billion in cash. The $56 per share deal represents a 51% premium to where Alere shares closed trading on Friday

Permira has agreed to sell Creganna Medical, an Ireland-based maker of delivery devices for the minimally invasive vascular surgery market, to TE Connectivity (NYSE: TEL) for $895 million in cash

Gong Xi Fa Cai to all our readers!

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

The Propell Group

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