Morning, everyone. I hope you had a good long weekend. Here is my weekly deal summary across medtech and biotech. Some interesting news to bring you this week, ranging from precision medicine, to diagnostics, and gene therapies. Congratulations to everyone involved and I hope you have a good week.
đź”” Transplant-focused precision medicine company CareDx is making a move into the oncology space, scooping up Massachusetts-based biotech Naveris in a deal worth up to $260m.
🔔 Massachusetts biotech Nuvalent is turning to Guardant Health to develop companion diagnostics for its targeted cancer drugs, signing a multi-year deal to tap into Guardant’s “Infinity” platform.
đź”” Lilly pens $2.2B pact with Bezos-backed Profluent to work on recombinase-based gene editing
đź”” Thermo Fisher Scientific is shedding its microbiology business to private equity firm Astorg nearly a year after initial rumors of a sale surfaced. The deal is worth $1.075b.
đź”” Danish dermatology specialist Leo Pharma is paying $50m for U.S. gene writing biotech Replay and its preclinical gene therapy for a rare skin disease.
đź”” Cytospire Therapeutics has raised a ÂŁ61m Series A round, positioning the British biotech to advance pan-gamma-delta T-cell engagers into cancer clinical trials.
🔔 BioOrbit: record seed round for in‑space drug manufacturing, raising £9.8m.
🔔 Valneva SE, the French specialty‑vaccine developer, has completed an €84m reserved offering, adding a useful cash buffer just as the group enters a high‑risk window for its Lyme disease and shigellosis‑vaccine candidates.
🔔 Italian pharma group Chiesi has struck a near‑US$1.9bn deal to acquire KalVista Pharmaceuticals, bringing the US biotech’s first‑in‑class oral treatment for hereditary angioedema into its rare‑disease portfolio.
🔔 Cambridge-based medtech PlaqueTec has raised £3.7m in an oversubscribed financing round funded by the company’s existing investor base.
🔔 Nervonik announced today that it closed an oversubscribed Series B financing round worth proceeds of $52.5m. Los Angeles-based Nervonik develops technology for peripheral nerve stimulation (PNS) for treating chronic pain
đź”” Gene therapy startup Latus Bio has raised another $42m to start its first clinical trials, where it will try to sidestep issues that have set back a more advanced competitor.