Quest agreed to acquire cancer diagnostics startup Haystack Oncology while GV took part in oncology drug developer Antiva’s $53m series E round.
M&A
Medical lab operator Quest Diagnostics is acquiring Haystack Oncology, a cancer-focused blood diagnostics technology developer backed by corporates Bruker, Exact Sciences and Alexandria Real Estate Equities, for up to $450m. The deal, which is set to close in June, involves $300m in cash with the remainder dependent on Haystack’s test performance milestones. The company last raised funding in a $56m series A round in November 2022.
Funding
HPV-derived pre-cancerous lesion therapy developer Antiva Biosciences received $53m in series E funding from investors including internet technology conglomerate Alphabet’s GV unit. The round was led by MPM-BioImpact Capital and also featured Canaan Partners, Sofinnova Investments, Adjuvant Capital and Lumira Ventures.
| Company | Company Description | Sector | Country | Round | Round size ($m) | Deal date | Investors |
|---|---|---|---|---|---|---|---|
| Evommune | Inflammatory disease treatment developer | Healthcare | US | B | 50 | 26/04/2023 | Nan Fung (Pivotal BioVenture Partners); Arix Bioscience (co-lead), EQT Life Sciences (co-lead), SymBiosis (co-lead), Amplitude Ventures, Andera Partners |
| Kingstar Winning Software Technology | Healthcare monitoring software subsidiary of Winning Health | Healthcare | China | C | 43.3 | 28/04/2023 | China Taiping Insurance Holdings (China Taiping Medical and Health Equity Investment Fund) (lead), China Electronics Corporation (SND Financial Holdings); Cathay Capital, Tiliang Investment Management |
| Therini Bio | Inflammatory neurodegenerative and retinal disease treatment developer | Healthcare | US | A | 36 | 27/04/2023 | Merck & Co (MRL Ventures Fund) (co-lead), Sanofi (Sanofi Ventures), Eli Lilly and Company; SV Health Investors (Dementia Discovery Fund/Impact Medicine Fund) (co-lead), Alzheimer’s Drug Discovery Foundation, Dolby Family Ventures, Foundation for a Better World |
| Pattern Bioscience | Antibiotic resistance-focused diagnostics technology developer | Healthcare | US | C | 28.7 | 27/04/2023 | Illumina (Illumina Ventures) (lead); Omnimed Capital, Antimicrobial Resistance Action Fund, Daleshaw |
| Biomica | Microbiome-based therapeutics developer | Healthcare | Israel | N/A | 20 | 27/04/2023 | Evogene; Shanghai Healthcare Capital (lead) |
| DeepHow | AI-powered workplace training platform | Services | US | A | 14 | 27/04/2023 | LG (LG Technology Ventures), Qualcomm (Qualcomm Ventures); Owl Ventures (lead), Sierra Ventures, Osage Venture Partners, Foothill Ventures |
| Hived | Zero-emissions parcel delivery service | Services | UK | A | 12.4 | 26/04/2023 | AP Moller-Maersk (Maersk Growth); Planet A Ventures (lead), Eka Ventures, Pale Blue Dot |
| Wayhome | Rent-to-buy home purchase finance service | Financial | UK | A | 9.9 | 26/04/2023 | Allianz (Allianz X) (lead); Augment Fintech, Love Ventures, Cur8 Capital, Volution |
| Iris Audio Technologies | Voice isolation technology developer | Media | UK | A | 7 | 27/04/2023 | TAG Group; Puma Private Equity (lead), Ojjeh family, Toby Brzoznowski |
| Tembo | Digital mortgage platform | Financial | UK | N/A | 6.2 | 27/04/2023 | Aviva (Aviva Ventures); Love Ventures, McPike Family Office, Ascension Ventures |
| IDPartner | Developer of privacy-preserving online identity verification tool | IT | UK | Seed | 3.1 | 26/04/2023 | Circle (Circle Ventures); Abstract Ventures (lead), Foundation Capital, Firsthand Alliance, Correlation Ventures, Success Venture Partners, Aleo |
| Verteego | Provider of consumer business planning software | IT | France | N/A | 2.7 | 27/04/2023 | Finoli; Archipel Ventures, Supercapital, Holnest, BPIfrance, Kima Ventures, Charles Egly, Guillaume Princen, Loïc Villers, Etienne Besançon |
