Profit Pulse: Bio

Tome Biosciences topped our end-of-year biotech financing digest with its $200M Series B round supporting its programmable genomic integration (PGI) approach. a16z shared some notes on the deal, noting the company’s battle-tested leadership while highlighting its roadmap.

Turning to M&A, Bristol announced its agreement to acquire RayzeBio, a cancer therapy developer for $4.1B in cash.

Public markets and funds witnessed $1.24B in capital announcements across five deals.

Table of Contents

• Weekly Deal Flow Takeaways

  • Private Fundraises

  • M&A

  • Public/Fund Financings

Weekly Deal Flow Takeaways

Private Fundraises: Nine deals; $424M identified

M&A: Nine deals; $7.4B identified

Public / Funds: Five announcements; $1.24B identified

Private Fundraises

Tome Biosciences, developer of a programmable genomic integration platform, raised over $200M in funding with participation from a16z Bio, ARCH Venture Partners, GV, Longwood Fund, Polaris Partners, Bruker Corporation, FUJIFILM Corporation, Alexandria Venture Investments and others.

Totus Medicines, a biotech company that uses covalent libraries and AI tools for drug discovery, raised $65M through its connections with DCVC, North Pond Ventures, Camford Capital, and the Regents of the University of Minnesota.

Shinobi Therapeutics, developer of a hypoimmune iPS-T cell therapy platform, raised a $51M Series A with participation from EQT Life Sciences, F-Prime Capital, Eight Roads Ventures Japan, Astellas Venture Management, Fast Track Initiative (FTI), JIC Venture Growth Investments, and D3 LLC.

Parse Biosciences, a Seattle-based provider of single-cell sequencing solutions, raised $50M through its connections with Soleus Capital, Janus Henderson Investors, Marshall Wace, Sahsen Ventures, and Saras Capital.

EvolveImmune Therapeutics, an immunotherapy biotech, raised $37M in a round with participation from existing investors including Pfizer Ventures, Solasta Ventures, and Takeda Ventures, Inc., along with new strategic investor Bristol Myers Squibb.

Encellin, a cell encapsulation company focused on Type 1 Diabetes, raised $9.9M in a round led by Khosla Ventures with participation from Y Combinator.

Netris Pharma, a French biotech focused on cancer-resistant molecules, raised €7.5M in a round with participation from EIC Fund.

Metrion, a ion channel CRO and drug discovery startup, raised £3.5M through its connections with Maven Capital Partners, Gresham House Ventures

Pluristyx, a technology provider for cell therapy companies, raised an undisclosed amount of funding in a round led by BroadOak Capital Partners.

M&A

Seqens has acquired CELLforCURE, a Novartis-owned CGGT CDMO in France, for an undisclosed amount.

HIG Capital agreed to buy the spine business of ZimVie for $375M.

RayzeBio, a cancer therapy developer, sold to Bristol Myers Squibb for $4.1b in cash.

Gracell, a Chinese developer of cancer and autoimmune disease therapies, sold to AstraZeneca for $1.2B.

ELITech, a French maker of in-vitro diagnostics, sold to Bruker for €870M.

UnitedHealth sold its Brazilian operations to Jose Seripieri Filho (founder and ex-CEO of Qualicorp) for a rumored pricetag around $500M.

MeiraGTx announced a $415M milestone-based asset purchase agreement with Janssen Pharmaceuticals (a J&J company) involving its AAV-RPGR collaboration.

LumiraDx sold its point-of-care diagnostics business to Roche for ~$295M.

Beckley Psytech, a British psychedelic drug company, sold 35% of the company for $50M to Atai Life Sciences.

Public/Fund Financings

Goldman Sachs Asset Management raised $650M for its first life sciences fund, titled "West Street Life Sciences".

Pivotal Life Sciences raised $389M for its second venture capital fund.

CG Oncology, a developer of immunotherapies for bladder cancer, filed for a $100M IPO.

Fractyl Health, developer of GLP-1 therapies for Type 2 diabetes and obesity, filed for a $100M IPO.

Centrient Pharma, a Dutch antibodies maker, hired Citi and Jefferies to find prospective acquirers.

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