Illustration: Lazaro Gamio/Axios
Venture Capital
💊 EpiBiologics, a San Mateo, Calif.-based biotech developing protein degraders for cancer and immune diseases, raised $107m in Series B funding. GV and Johnson & Johnson's corporate venture arms led, joined by Novartis Venture Fund, Samsara BioCapital and Polaris Partners. Go deeper
💊 Beacon Therapeutics, a London and Cambridge, Mass.-based vision biotech, raised a $75m Series C. Life Sciences at Goldman Sachs Alternatives led, joined by the Retinal Degeneration Fund, Syncona Limited, Forbion, Oxford Science Enterprises and Advent Life Sciences. Go deeper
💊 Vizgen, a Cambridge and Waltham, Mass.-based spatial biology and multiomics biotech, raised a $48m Series E. ARCH Venture Partners, Northpond Ventures and M Ventures led. Go deeper
🚑 Boltz, a drug discovery startup, raised $28m in seed funding from Zetta, Amplify, a16z, Hugging Face CEO Clement Delangue, Factorial Capital, and Obvious Ventures. Go deeper
💊 Engitix, a London cancer and fibrosis biotech, raised $25m in a Series A extension from Netherton Investments. Go deeper
💊 Enodia Therapeutics, a French protein degrader biotech, raised a €20.7m seed. Elaia, Pfizer Ventures and Bpifrance led, joined by Wallonie Entreprendre, Argobio Studio, MACSF, The Institut Pasteur, InvestSud, Sambrinvest and Mission BioCapital. Go deeper
• Spangle, a Seattle-based e-commerce personalization startup, raised $15m at a $100m post-money valuation. NewRoad Capital Partners led, joined by Madrona, DNX Ventures, and Streamlined Ventures. Go deeper
• Presto Phoenix, a San Mateo, Calif.-based startup specializing in voice AI for restaurants, raised a $10m round. Metropolitan Partners Group led, joined by Remus Capital, Link Ventures, and angel investors. Go deeper
• Entelligence AI, a Houston-based maker of an AI agent for engineering teams, raised $5m. Mayfield and Correlation Ventures led with participation from Embedding VC and DGVentures. Go deeper
• Onsetto, a Minneapolis-based business banking platform, raised $2.2m in seed funding led by EJF Ventures. Go deeper
Private Equity
• 11:11 System, a Fairfield, N.J.-based portfolio company of Tiger Infrastructure Partners, acquired Ntirety, an Austin, Texas-based managed and professional IT services firm. Go deeper
• Brightwood Capital Advisors acquired museum chain Museum of Illusions from Invera Capital Partners, which will keep a minority stake. Go deeper
🚑 Currier Plastics, a Sheridan Capital Partners portfolio company, acquired two medical contract manufacturers: Springboard Manufacturing in Rancho Cordova, Calif., and MOS Plastics in San Jose, Calif. Go deeper
• Vanda, a U.K. portfolio company of FPE Capital, acquired Exante Data, an NYC-based data analytics and global macro strategy provider. Go deeper
Going Public
• Bleichroeder Acquisition II, a SPAC led by Andrew Gundlach, raised $250m in its IPO. Go deeper
💊 NervGen Pharma, a Vancouver neuroreparative therapeutic developer for spinal cord injuries, began trading on the Nasdaq under NGEN on Thursday. Go deeper
Liquidity
• Snowflake (NYSE: SNOW) agreed to acquire Observe, a San Mateo, Calif., observability platform that raised nearly $500m from firms like Snowflake Ventures, Sutter Hill Ventures, Madrona, Alumni Ventures, and Capital One Ventures. Go deeper
M&A
• Anta Sports (HK: 2020) offered to buy a 29% stake in listed German sportswear group Puma from France's Pinault family, per Reuters. Go deeper
• Coincheck Group (Nasdaq: CNCK) agreed to acquire about 97% of Canadian digital asset manager 3iQ in a stock deal valuing it around $112m. Go deeper
🚑 IntelyCare, a Boston-based health care staffing platform, acquired CareRev, a Los Angeles-based workforce platform focused on acute care. Go deeper
It's Personnel
• Argosy Healthcare Partners promoted Ryan Noon to partner. Go deeper
• Encore Consumer Capital, a San Francisco, Calif.-based private equity firm, promoted Jen Quindlen to VP. Go deeper
💊 Flagship Pioneering and Etiome, a Cambridge, Mass.-based disease detection startup it helped launch, hired Adrian "Ad" Rawcliffe as CEO-partner and CEO, respectively. Go deeper
🚑 Martis Capital Management, a health care-focused private equity firm, promoted Phillip Campbell and David Zhang to principals and Jack Stoney to VP. Go deeper
• NewView Capital, a Burlingame, Calif.-based growth investor, promoted Nick Bunick to partner. Go deeper
🚑 Rune Labs, an SF-based developer of neurologic precision medicine treatments, named Amy Gordon Franzen CEO. She was previously senior VP and general manager at Tempus. Former CEO and co-founder Brian Pepin will become president of biopharma and platform. Go deeper
⚡️Tim Peterson will join Exelon as executive vice president and chief customer and technology officer. Peterson is senior vice president, chief information officer and chief technology officer at Xcel Energy. Go deeper
Ryan Barwick, Colin Campbell, Katherine Davis, Katie Fehrenbacher, Ryan Lawler, Alan Neuhauser, Chris Metinko, Dan Primack, and Aaron Weitzman contributed to this report.
