Here is Matt Lowdon‘s weekly deals update from our core markets; MedTech and Biotech. Headlines cover news from the world of surgical robotics, proteomics, monoclonal antibodies, and more. Congratulations to everyone involved.
🔔Illumina is diving deeper into proteomics research with a $425 million plan to acquire SOMALOGIC LIMITED, including its protein analysis platforms and certified lab services business.
🔔ForSight Robotics may be seeing stars after raising $125 million in venture capital funding to power the first human clinical trials of its eye surgery platform in the coming year.
🔔Fosun Pharma subsidiary Henlius is paying $10 million upfront for regional rights to HanchorBio Inc. 漢康生技股份有限公司’s phase 2 CD47 blocker.
🔔Alphabet’s Calico Life Sciences is inking a deal worth up to $571 million biobucks for the rights to investigational IL-11 therapeutics from Mabwell, including a clinical-stage monoclonal antibody (mAb) for age-related diseases.
🔔OutSee, a genomics and drug discovery company pioneering a unique AI-based predictive genomics approach to target discovery, today announced it has secured £1.8M in seed funding, led by Ahren Innovation Capital
🔔The NATO Innovation Fund has made its first investment in a biotech company, it said on Monday, seeking to enhance defences against biological threats. The fund led a $35 million fundraising round for Portal Biotech, which uses protein sequencing to detect engineered threats and defend against biological warfare.
🔔Life science startup Laverock Therapeutics has extended it seed round to more than £20m with additional backing from new and existing investors.
🔔Novartis is penning a four-year pact with ProFound Therapeutics to create new therapeutics for heart disease, with $750 million in biobucks up for grabs per target.
🔔Kymera Therapeutics sweetened news of a setback Wednesday, revealing that Sanofi is pulling back from its lead IRAK4 degrader alongside details of the selection of a follow-up prospect and a $750 million deal with Gilead Sciences.
🔔Having secured one of last year’s largest funding rounds, AI-focused Formation Bio is now eyeing up 545 million euros ($626 million) in potential paydays from a licensing deal with Sanofi.
🔔Pfizer has added another chapter to its long-running drug discovery collaboration with Chinese tech startup XtalPi Inc., this time upgrading their molecular modeling work.
🔔The Boston-based startup LogicFlo AI announced a $2.7 million seed funding round to scale its intelligent agent platform across the pharmaceutical, biotech, and medtech industries
