Solid Biosciences is merging with Sarepta-backed AavantiBio in a $215m deal while Amazon has formed a minority founder-focused $150m fund.

M&A

Nasdaq-listed Duchenne muscular dystrophy therapy developer Solid Biosciences is merging with AavantiBio, a US-based gene therapeutics provider backed by genetic medicine group Sarepta Therapeutics, through a $215m cash and investment deal.

Business management automation tool provider ZenBusiness has acquired Ureeka, a US-based minority founder-focused mentoring platform backed by enterprise software firm Salesforce, for an undisclosed amount.

Cosmetics firm Shiseido has agreed to acquire Gallinée, a UK-based microbiome-driven skincare product provider backed by consumer goods group Unilever, for an undisclosed amount.

Fund

Ecommerce and cloud computing group Amazon has set aside $150m to invest in underrepresented founders including ethnic and sexual minorities. The corporate intends to support some 200 pre-seed stage companies through the backing of more than 10 funds over the course of 2023.

Funding

Company Company description Sector Country Round Round size($m) Deal date Investors
Cellarity Genomic therapy developer Healthcare US C 121 04/10/2022 Kyowa…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.

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