🔔 Here is Matt Lowdon‘s weekly update that focuses on deals, fund raises, and more across MedTech and Biotech. Some interesting news across diagnostics, protein folding, molecular glues, bioprocessing and more.
➡️ Natera buys Foresight Diagnostics in cancer testing deal worth up to $450M
➡️ Paradigm Health has raised $78 million as it works to revamp the clinical research ecosystem, while also announcing a deal to acquire Flatiron Health’s clinical research business unit.
➡️ Pfizer’s VC arm has backed a $100 million series A raise for OTR Therapeutics as the Chinese biotech tacks on preclinical neurological assets to its varied portfolio.
➡️ Crescent Biopharma has agreed to pay Kelun-Biotech $80 million for ex-China rights to an antibody-drug conjugate
➡️ Italian pharmaceutical firm Angelini Pharma’s corporate venture capital arm has signed the first deal between a CVC unit and the European Investment Bank, a €150m partnership that will invest in European healthtech startups.
➡️ Aging-focused biotech Retro Biosciences, who is backed by Sam Altman eyes $5 billion valuation with a new fund raise in the works.
➡️ Oncobit AG, a precision oncology company developing next-generation cancer monitoring solutions in Switzerland, has bolstered its financial base through a new capital increase backed by existing and new investors, raising 1.9m CHF.
➡️ Protego Bio., a clinical-stage biotech dedicated to pioneering first-in-class small molecule therapeutics that reprogram protein folding to address systemic amyloid diseases and other protein misfolding disorders, has announced the completion of an oversubscribed $130 million Series B financing.
➡️ California-based Akura Medical raises $53M to advance thrombectomy portfolio
➡️ TRIANA Biomedicines has tapped Pfizer Ventures and a number of other existing and new investors to secure a $120 million series B the biotech will use to take its lead molecular glue degrader into the clinic.
➡️ Laboratoires Théa has penned a deal potentially worth up to $280 million to get its hands on Iolyx Therapeutics’ phase 3-ready eye disease drug.
➡️ Cancer blood test developer Freenome to go public in $330M SPAC deal
➡️ Swedish Melt&Marble has raised €7.3m to scale precision-fermented designer fats for sustainable, high-performance food and personal care ingredients.
➡️ French AFYREN secures €23m to accelerate biorefinery expansion as first plant enters full industrial ramp-up. Most of the money comes from US company Kemin Industries.
➡️ Lyon-based Ventuno Biotech secures fresh backing to accelerate its preclinical pipeline of first-in-class immuno-oncology assets.