Get these analyses to your inbox — https://axialfc.substack.com/ This is a newsletter for new financing events with some simple analysis. More well thought out work can be found at — https://axial.substack.com/ I figured that there is a diversity across desire for frequency of emails.

Axial invests and partners in early-stage life sciences companies. If you or someone you know has a great idea or company in life sciences, Axial would be excited to get to know you and possibly invest in your vision and company — info@axialsprawl.com

Life Sciences Financings and Commentary #4 — April 18, 2020 — April 24, 2020

Financings

Number of deals: 16 & Total capital invested: $528M

- Accent Therapeutics raised $63M led by EcoR1 Capital to develop new medicines for cancer pursuing the epitranscriptome — the “collection of RNA-modifying proteins (RMPs) that control many aspects of RNA biology.”

- Affinivax raised $120M led by Viking Global to develop vaccines covering covers 24 strains of pneumococcus — https://www.fiercebiotech.com/biotech/affinivax-banks-120m-to-push-vaccines-against-hospital-associated-superbugs

- Alan raised €50M led by Temasek to create a standalone insurance company in France. This is a first step toward reconfiguring the broad-based incentive structure of life sciences — https://techcrunch.com/2020/04/19/alan-raises-another-54-4-million-for-its-health-insurance-product/

- Aledade raised $64M led by OMERS to expand their product suite that helps existing networks and clinics to convert from fee-for-service to fee-for-value — https://news.crunchbase.com/news/health-tech-startup-aledade-raises-64m-series-c-with-an-eye-toward-profitability/

- Biobot Analytics raised $6.7M led by The Engine (MIT) to scale up their wastewater and sewage analytics product to detect things like infections and opioid use.

- EnginZyme raised €6.4M led by Sofinnova Partners to bring cell-free technology (for them, immobilized enzymes) to market.

- FoRx Therapeutics raised €10M from M Ventures, Novartis, Moega Funds, and Pfizer to drug DNA replication stress pathways for cancer.

- H1 Insights raised $12.9M led by Menlo Ventures to commercialize its KOL clinical trial software — https://techcrunch.com/2020/04/22/y-combinator-graduate-h1-closes-on-12-9-million-for-its-professional-healthcare-database/

- Helium Health raised $7M led by Global Ventures to build an EMR software product in West Africa.

- Laird Superfood raised $10M led by Danone Manifesto Ventures to develop plant-based food focusing on coffee and the things required to make a good cup.

- Nitrome Biosciences raised $38M with Sofinnova Partners and AbbVie Ventures co-leading the round to drug a new class of enzymes for Parkinson’s and age-related diseases.

- Paige raised $5M to top off a $50M with Goldman Sachs Merchant Banking Division joining Breyer Capital and HealthCor Partners to continue building out a digital pathology ecosystem for the diagnosis and treatment of cancer.

- SwanBio Therapeutics raised $51M led by Syncona to move forward with the company’s AAV therapies for neurological diseases.

- Unlearn raised $12M led by 8VC.The company uses machine learning and real-world evidence to design better controls for clinical trials — https://techcrunch.com/2020/04/20/unlearn-ai-nabs-12m-to-build-digital-twins-to-speed-up-and-improve-clinical-trials/

- XRHealth raised $7M with Bridges Israel, Flint Capital and 20/20 HealthCare Partners participating to build out their VR-based telemedicine product for things like pain and menopause — https://techcrunch.com/2020/04/22/vr-telemedicine-platform-xrhealth-raises-7m/

- Zikani Therapeutics raised $7.5M with Advent Life Sciences, Gurnet Point Capital, and Roche Venture Fund joining to make drugs against ribosome modulating agents (RMAs) to treat rare diseases.

Exits

Number of exits: 3 & Total exit value: ~$450M

- Akeso raised over $300M (~$1.5B market capitalization) on the Hong Kong exchange to bring a PD-1 antibody through the clinic — https://www.biocentury.com/article/304981

- Amblyotech was acquired by Novartis for an undisclosed amount. Amblyotech uses a pair of 3D glasses they developed with video games to treat amblyopia (lazy eye) — https://www.mobihealthnews.com/news/novartis-acquires-digital-therapeutic-using-video-games-3d-glasses-treat-lazy-eye

- ORIC Pharmaceuticals filed to go public and raised $120M to develop small molecules for resistant cancers through the adenosine pathway with 2 phase I products — https://www.sec.gov/Archives/edgar/data/1796280/000119312520057039/d843476ds1.htm

I used to play football a long time ago — I had some decent success mainly because of my teammates with some of them playing in the NFL. Every practice, every game was an existential fight. I’m not that athletic so every year some 6’4 monster would show up trying to take my spot. Similarly, all of these companies are fighting for their right to exist whether they raised $1M or $100M. Building a great business requires passion and focus. A really powerful and useful framework to lead groups of people and win was developed by Bill Walsh — https://www.youtube.com/watch?v=fd_CnRkKOqA