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OMass Therapeutics, a U.K. biotech that uses structural mass spectrometry, raised $310m in Series C funding. Bain Capital Life Sciences, Forbion, and Novo Holdings led, joined by Janus Henderson, SV Health Investors, Jefferson Life Sciences and insiders Syncona, Oxford Science Enterprises, GV, Northpond Ventures, Sanofi Ventures, British Patient Capital, and University of Oxford. Go deeper

Soufflé Therapeutics, a Boston-based developer of RNA therapies, raised $135m in Series B funding. Juvia Group led, joined by TCG Crossover Management, BB Biotech, Fidelity, Balyasny Asset Management, Amgen Ventures, Arch Venture Partners, Bessemer Venture Partners, Breyer Capital, The Invus Group, Janus Henderson, Leaps by Bayer, Polaris Partners, Safar Partners, TAS Partners, Temasek, and Vida Ventures. Go deeper

Microbiotica, a U.K. precision microbiome medicine biotech, raised £36 million ($48 million) in a Series C. British Business Bank led, joined by Tencent, IP Group, Cambridge Innovation Capital, Flerie Invest, and Seventure Partners. Go deeper

Altay Therapeutics, a San Carlos, Calif.-based maker of transcription factor small molecule inhibitors, raised $37m in Series A funding. Sound Bioventures and HealthCap led, joined by Fountain Healthcare Partners, Biogen New Ventures, Pappas Capital, and Global BioAccess Fund. Go deeper

Seragy, a German biomarker startup, raised €12m from Commerzbank, the MB, and the State of Lower Saxony. Go deeper

Silvia Bio, a U.K. biomanufacturing startup, raised £3m in seed funding. Northern Gritstone led, joined by Parkwalk Northern Universities Venture Fund, and the UK Innovation & Science Seed Fund. Go deeper

Johnson & Johnson (NYSE: JNJ) said it's leaning toward spinning off its orthopedics unit, after having reportedly been in talks to sell it for around $20b to Apollo. Go deeper

Aspen Neuroscience, a San Diego-based developer of stem cell therapies for Parkinson's disease, filed for an IPO. It plans to list on the Nasdaq (ASPE) and has raised $380m from OrbiMed (13.1% pre-IPO stake), Arch Venture Partners (12.3%), Gilead Sciences (8.4%), Frazier Life Sciences (6.8%), QIA (6.8%), ADIA (6.6%), Medical Excellence Capital (5.5%), Revelation Partners, S32, Axon Ventures, Lyfe Capital, and LifeForce Capital. Go deeper

Bambusa Therapeutics, a Boston-based developer of bispecific antibodies for inflammatory diseases, filed for an IPO. The Phase 2 company plans to list on the Nasdaq (BBTX) and has raised $142m from firms like Salvia (24.3% pre-IPO stake), RA Capital (11.3%), BVF (8.1%), Dawn Biopharma (6.2%), Redmile Group, and Invus Group. Go deeper

City Therapeutics, a Cambridge, Mass.-based developer of RNAi medicines, raised $200m at a $1b valuation in its IPO. The company has raised $240m from Arch Venture Partners (35% pre-IPO stake), Fidelity (10%), Invus (8.4%), Viking Global Investors (5.2%), Sofinnova Investments, Casdin Capital, NYBC Ventures, Slate Path Capital, Rock Springs Capital, Regeneron Ventures, and AN Ventures. Go deeper

Frazier Life Sciences Acquisition II, a biotech SPAC, raised $75m in its IPO. Go deeper

Iambic Therapeutics, a San Diego-based AI drug discovery company, raised $150m in its IPO. It priced at the midpoint of its range, for an $809m market cap, and is on the Nasdaq (IAM). The Phase 1 biotech had raised over $350m from firms like Abingworth, Alexandria Venture Investments, Alumni Ventures, ARK, Ascenta, Catalio, Everbright Biofund, and Freeflow Ventures. Flashback

TRex Bio, a South SF-based developer of precision immunoregulatory medicines, raised $117m in its IPO. It priced at the low end of its $14-$16 range and listed on the Nasdaq (TRXB). TRex had raised over $220m from firms like Eli Lilly (which is buying back in via the IPO), Janus Henderson, Balyasny Asset Management, Affinity Asset Advisors, Alexandria Venture Investments, Avego BioScience Capital, Delos Capital, J&J Innovation, Pfizer Ventures, Polaris Partners, and SV Health Investors. Go deeper

Labcorp (NYSE: LH) agreed to buy the lab testing business of BioReference Health from OPKO Health (Nasdaq: OPK) for $722m in cash upfront and $150m of potential earnouts. Go deeper

AstraZeneca (NYSE: AZN) will pay $40m upfront and up to $1.5b to drug discovery startup Insitro to explore new cardiometabolic disease treatments. Go deeper

Roche (SWX: ROP) signed an obesity drug licensing deal with VC-backed Chinese biotech Rona Therapeutics, including $100m upfront and up to $1.06b in earnouts. Go deeper

Catalio Capital Management is raising $500m for its fifth "Nexus" fund, per Bloomberg. Go deeper

OrbiMed raised $1.9b for its tenth flagship VC fund and over $1b for its sixth Asia-focused VC and PE fund. orbimed.com

Krishna Yeshwant is retiring as a partner and co-head of life sciences at GV, where he'll continue to serve as a managing partner emeritus. Go deeper

Sandip Kapadia, former chief financial and administrative officer at Harmony Biosciences, joins LA-based TORL BioTherapeutics as CFO. Eric Sievers, former chief medical officer at BioAtla, joins TORL as CMO. Go deeper

Sean Maenpaa, former managing director of Maenpaa Consulting, joins New York-based Actinium Pharmaceuticals as SVP of business development. Go deeper

Stephen Harrison, former chief scientific officer of Nucleome Therapeutics, joins Prologue Medicines as chief scientific officer. Go deeper

Biotech deals of the week

Catch up on this week's biotech deal news.

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<h2 class="text-h6 !font-sans !font-normal !leading-[1.2em]">Venture Capital</h2><ul><li>OMass Therapeutics, a U.K. biotech that uses structural mass spectrometry, raised $310m in Series C funding. Bain Capital Life Sciences, Forbion, and Novo Holdings led, joined by Janus Henderson, SV Health Investors, Jefferson Life Sciences and insiders Syncona, Oxford Science Enterprises, GV, Northpond Ventures, Sanofi Ventures, British Patient Capital, and University of Oxford. <a class="gtmContentClick" data-vars-link-text="Go deeper" data-vars-click-url="https://link.axios.com/click/47950223.229360/aHR0cDovL2F4aW9zLmxpbmsvNHlxWDhqMA/67f425e94011ab589e057fdbB2491278c#_ga=2.7400434.1907871497.1792064022-1783245024.1744031450" data-vars-content-id="19787ab9-bffd-4531-9f0d-6dd2a8051c2c" data-vars-headline="Biotech deals of the week" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://link.axios.com/click/47950223.229360/aHR0cDovL2F4aW9zLmxpbmsvNHlxWDhqMA/67f425e94011ab589e057fdbB2491278c#_ga=2.7400434.1907871497.1792064022-1783245024.1744031450" target="_self">Go deeper</a></li></ul>

Biotech deals of the week

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