May 4, 2023

Strategy | Financing Highlight Private Placement / Financing Transactions Orbital Therapeutics: The company raised $270 million of Series A venture funding in a deal led by ARCH Venture Partners on April 26, 2023. Alexandria Venture Investments, Heritage Medical Systems, Exor, The Invus Group, Moore Strategic Ventures, iGlobe Partners, Andreessen Horowitz, Newpath Partners, Agent Capital, Rellim Capital Management, Abu Dhabi Growth Fund, Redmile Group, Casdin Capital and other undisclosed investors also participated in the round. The company is a developer of an RNA therapeutics platform designed to integrate a critical mass of both established and emerging technologies and delivery mechanisms. Vedanta Biosciences: The company raised $106.5 million through a combination of debt and Series D venture funding in a deal led by AXA Investment Managers and AMR Action Fund on April 25, 2023, putting the company’s pre-money valuation at $450 million. Pfizer, Fosun Health Capital, Atlantic Neptune, K2 HealthVentures, Korea Investment Partners, Skyviews Life Science, PEAK6 Strategic Capital, Fiscus Ventures, Hambro Perks, PureTech Health, Seventure Partners, Bill & Melinda Gates Foundation, Revelation Partners, QUAD Investment Management, Magnetar Capital, Verition Fund Management, Reimagined Ventures and Korea Investment Holdings Company also participated in the round. The company is a developer of immunotherapies designed to treat immune-mediated and infectious diseases. Foresight Diagnostics: The company raised $58.8 million of Series B venture funding in a deal led by Foresite Capital Management on April 27, 2023. Civilization Ventures, Bluebird Ventures, Pear, Agent Capital, Leland Stanford Junior University and University of Colorado also participated in the round. The company is a developer of a novel diagnosis technology designed to detect cancers earlier from a simple blood sample. Antiva Biosciences: The company raised $53 million of Series E venture funding in a deal led by MPM Capital on April 27, 2023. GV, Canaan Partners, Sofinnova Investments, Lumira Ventures and Adjuvant Capital also participated in the round. The company is a developer of small molecule antivirals designed to improve health outcomes for patients suffering from diseases caused by HPV and other viruses. Adcentrx Therapeutics: The company raised $38 million of Series A venture funding in a deal led by Eight Roads on April 25, 2023. ABio-X, F-Prime Capital, Delta Capital, Trinity Innovation Fund and other undisclosed investors also participated in the round. The company is an operator of a biotechnology business focused on protein conjugate therapeutics for cancer and other life-threatening diseases. Therini Bio: The company raised $36 million of Series A venture funding in a deal led by MRL Ventures Fund, Sanofi Ventures and Dementia Discovery Fund on April 27, 2023. Foundation For a Better World, Eli Lilly, Dolby Family Ventures, and Alzheimers Drug Discovery Foundation also participated in the round. The company is developing potential treatments to protect the nervous system from multiple sclerosis damage. Pattern BioSciences: The company raised $28.7 million of Series C venture funding in a deal led by Omnimed Capital and Illumina Ventures on April 28, 2023. AMR Action Fund and Daleshaw also participated in the round. The company is a developer of a biotechnology platform designed for cancer treatment. Mend: The company raised $10.5 million of venture funding from undisclosed investors on April 24, 2023. The company is a developer of clinical nutritional products. Rhapsody (Boston): The company received $4.9 million of development capital from undisclosed investors on April 26, 2023. The company is a developer of healthcare integration software intended for federal government organizations as well as public and private hospitals. M&A Transactions Provention Bio / Sanofi: The company was acquired by Sanofi for $2.9 billion on April 27, 2023. Provention Bio Inc is a clinical-stage biopharmaceutical company. Cardiovascular Systems / Abbott: The company was acquired by Abbott for $890 million on April 27, 2023. Cardiovascular Systems Inc is a medical technology company focused on patients with peripheral and coronary artery diseases. Haystack Oncology / Quest Diagnostics: The company reached a definitive agreement to be acquired by Quest Diagnostics for $300 million on April 27, 2023. The company is a developer of a liquid biopsy diagnostic technology designed to optimize treatment strategies and improve outcomes for patients with cancer. HDL Therapeutics / Swiftmerge Acquisition: The company reached a definitive agreement to be acquired by Swiftmerge Acquisition through a reverse merger, resulting in the combined entity trading on the NASDAQ Stock Exchange under the ticker symbol IVCP as of April 24, 2023. The company is an operator of a commercial-stage biotechnology company intended to fight heart disease. BlackSwan Vascular / China Grand Pharmaceutical and Healthcare Holdings: The company reached a definitive agreement to be acquired by China Grand Pharmaceutical and Healthcare Holdings for $37.5 million on April 24, 2023. The company is a developer of liquid embolic products tailored for use in peripheral vascular applications. Aveva Drug Delivery Systems / DifGen Pharmaceuticals: The company, a subsidiary of Apotex was acquired by DifGen Pharmaceuticals for an undisclosed amount on April 24, 2023. The company is a developer and manufacturer of transdermal drug delivery systems and oral dissolvable films based in Miramar, Florida. Source: Pitchbook Data, Inc.