HealthTech Funding News
Earlier this week, Rock Health and Startup Health released their first quarterly funding reports for the calendar year. Rock Health, which has more specific inclusion criteria and only tracks deals above $2 million, reported $981.3 million in Q1 2016 digital health funding, while StartUp Health reported $1.8 billion
VC Deals (8 deals, $441M)
Entasis Therapeutics, a Waltham, Mass.-based developer of anti-infectives, has raised $50 million in Series B funding. Clarus Ventures led the round, and was joined by Frazier Healthcare Partners, Novo AS, Eventide Funds and return backer AstraZeneca
Metabomed Ltd., an Israeli developer of small-molecule drugs directed against targets in the field of cancer metabolism, has raised $18 million in Series A funding. Pfizer Inc. and Arkin Holdings were joined by existing backers MS Ventures, Boehringer Ingelheim Venture Fund, Pontifax LLC and the Technion Research and Development Foundation
Human Longevity, a San Diego-based developer of a database of whole genome, phenotype and clinical data, has raised $220 million in Series B funding. Backers include Illumina, Celgene, GE Ventures and DFJ. The company previously raised an $80 million Series A round at a $272 million pre-money valuation
CrossChx, a Columbus, Ohio-based provider of healthcare identity solutions, has raised $15 million in Series C funding. Backers include Silicon Valley Bank, Khosla Ventures, Drive Capital, NCT Ventures and Moonshots Capital
Bright Health announced that it has raised $80 million in Series A funding co-led by Bessemer Venture Partners and NEA, with Flare Capital Partners and Waterline Ventures also participating
Adavium Medical, a Brazilian medical equipment and clinical diagnostics company, raised $21 million in Series C funding from CVF LLC and existing investors Venrock, Aberdare Ventures, and Arboretum Ventures. Along with funding, The company also announced that it acquired Brazilian clinical diagnostic companies Alka Tecnologia and Hemogram Industria e Comercio
Lumos Pharma, a five-year-old, Austin, Tex.-based biotechnology company focused on developing therapeutics for orphan diseases, has raised $34 million in Series B funding led by Deerfield Management Company, with participation from Clarus Ventures, Roche Venture Fund, and earlier investors New Enterprise Associates, Sante Ventures and the Belgian pharmaceutical company UCB
Sweetch Health, a three-year-old, Jerusalemn-based health tech company whose platform helps identify individuals who are at risk of developing diabetes and coaching them on its prevention, has raised $3.5 million in Series A funding co-led by the health tech company Philips and OurCrowd, the equity crowdfunding platform
PE Deals (4 deals)
Marlin Equity Partners has acquired a portfolio of software assets sold to the ambulatory care market ― including practice management and electronic health records products ― from McKesson Corp.’s (NYSE: MCK) business performance services unit. No financial terms were disclosed
Sterigenics International, a Deerfield, Ill.-based provider of outsourced contract sterilization services, has acquired Nelson Laboratories Inc., a Salt Lake City-based provider of lifecycle microbiology testing services for the medical device, pharma and tissue industries. No financial terms were disclosed. Sterigenics is a portfolio company of Warburg Pincus and GTCR
Samara Capital Partners Fund has acquired Indian drug company Cosme Farma Laboratories from South Africa’sAdcock Ingram (JSE: AIP) for around $22 million
Vector Laboratories Inc., a Burlingame, Calif.-based developer of labeling and detection reagents, has raised an undisclosed amount of private equity funding from GTCR
IPO Deals (2 deals)
Cotiviti Corp., an Atlanta-based healthcare payment processing and auditing company, has hired J.P. Morgan and Goldman Sachs to lead an IPO that could value the company at around $3 billion, according to Bloomberg. Cotiviti is owned by Advent International
inVentiv Group Holdings, a Burlington, Mass.-based provider of outsource clinical and commercial services to the life sciences market, has filed for a $100 million IPO. That figure is likely as placeholder, with Renaissance Capital estimating that the offering could eventually be designed to raise $500 million. Credit Suisse and Morgan Stanley are serving as lead underwriters. The company reports a $150 million loss on $2.32 billion in revenue for 2015. Shareholders include Thomas H. Lee Partners
Other Deals (5 deals)
Pfizer (NYSE: PFE) this morning called off its proposed $160 billion purchase of Allergan (NYSE: AGN), following the announcement of new U.S. Treasury rules designed to curb tax inversions. As part of the mutual termination, Pfizer will pay Allergan $150 million as reimbursement for deal-related expenses
KKR has hired UBS to find a buyer for its 45% stake in Genesis Care, an Australian provider of radiation oncology services and cardiovascular care
Twist Bioscience, a San Francisco-based startup focused on synthetic DNA, has acquired Genome Compiler Corp., an Israeli developer of software for genetic engineers, molecular and synthetic biologists. No financial terms were disclosed. Twist has raised in VC funding from Illumina, Fidelity, Foresite Capital Management, Tao Invest, ARCH Venture Partners Paladin Capital Group and Yuri Milner. Genome Compiler had been backed by groups like LionBird and Foundry Group
Australia’s leading general practice software vendor MedicalDirector has been sold by owner Primary Health Care to a private equity firm for $155 million #asia
San Francisco-based pet fitness tracking company Whistle was acquired by Mars Petcare, maker of pet food brands like Iams, Pedigree, and Whiskas. The deal was close to $117 million
Sources: Term Sheet, Financial Times, StrictlyVC, TechinAsia, CrunchBase, TechCrunch, Bloomberg, MobiHealthNews
The Propell Group
#healthtech #asia