Evergreen Nephrology Raises $130 Million to Transform and Expand Access to Value-Based Kidney Care
Evergreen Nephrology, a leader in value-based kidney care, today announced it has raised $130 million in capital to expand its care model to more patients living with kidney disease. Funding was led by Rubicon Founders, Oak HC/FT and a group of existing investors, with the addition of K2 HealthVentures. Funding will fuel Evergreen's growth by enabling its expansion into new regions while implementing advanced technologies to improve clinical outcomes, streamline care delivery, and ease the administrative burden on nephrologists.
Evergreen Nephrology, a leader in value-based kidney care, today announced it has raised $130 million in capital to expand its care model to more patients living with kidney disease. Funding was led by Rubicon Founders, Oak HC/FT and a group of existing investors, with the addition of K2 HealthVentures. Funding will fuel Evergreen's growth by enabling its expansion into new regions while implementing advanced technologies to improve clinical outcomes, streamline care delivery, and ease the administrative burden on nephrologists.
Inari Raises $144 Million, Paving Path to Long-Term Growth
Inari, the SEEDesign™ company, today announced the completion of a $144 million fundraise fueled by the performance of its first-generation products and progress toward commercialization. With cumulative equity raised of more than $720 million, the new capital underpins the leading pure-play seed technology company’s financial strength and paves the way for long-term growth.
Inari, the SEEDesign™ company, today announced the completion of a $144 million fundraise fueled by the performance of its first-generation products and progress toward commercialization. With cumulative equity raised of more than $720 million, the new capital underpins the leading pure-play seed technology company’s financial strength and paves the way for long-term growth.
89bio, Inc. Announces Upsized Pricing of $125.0 Million Public Offering of Common Stock and Pre-Funded Warrants
89bio, Inc., a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardiometabolic diseases, today announced the pricing of its previously announced upsized underwritten public offering of 11,455,882 shares of its common stock at a public offering price per share of $8.50 and, in lieu of common stock to a certain investor, pre-funded warrants to purchase up to 3,250,000 shares of its common stock at a public offering price of $8.499. The pre-funded warrants have an exercise price of $0.001 per share and are exercisable immediately. In addition, 89bio has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 2,205,882 shares of its common stock at the public offering price, less the underwriting discounts and commissions. The gross proceeds of the offering to 89bio, before deducting the underwriting discounts and commissions and other offering expenses payable by 89bio, are expected to be approximately $125.0 million. The offering is expected to close on or about November 14, 2024, subject to the satisfaction of customary closing conditions.
89bio, Inc., a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of liver and cardiometabolic diseases, today announced the pricing of its previously announced upsized underwritten public offering of 11,455,882 shares of its common stock at a public offering price per share of $8.50 and, in lieu of common stock to a certain investor, pre-funded warrants to purchase up to 3,250,000 shares of its common stock at a public offering price of $8.499. The pre-funded warrants have an exercise price of $0.001 per share and are exercisable immediately. In addition, 89bio has granted the underwriters of the offering an option for a period of 30 days to purchase up to an additional 2,205,882 shares of its common stock at the public offering price, less the underwriting discounts and commissions. The gross proceeds of the offering to 89bio, before deducting the underwriting discounts and commissions and other offering expenses payable by 89bio, are expected to be approximately $125.0 million. The offering is expected to close on or about November 14, 2024, subject to the satisfaction of customary closing conditions.
Orthofix Announces New Term Loan
Orthofix, a leading global medical technology company, today announced the entry into a new credit agreement providing the Company with up to $275 million in a senior-secured term loan with a 48-month interest only period. The term loan is agented by Oxford Finance LLC (“Oxford”) and provides non-dilutive capital and financial flexibility to support Orthofix’s continued focus on profitable growth. The proceeds from the initial funding of the term loan will be used to retire the Company’s existing credit facility and pay related fees and expenses. The remaining capacity will bolster the Company’s access to capital.
New Financing Replaces Existing Term Loan and Seeks to Further Optimize the Company’s Capital Structure to Support Long-Term, Profitable Growth
LEWISVILLE, Texas--(BUSINESS WIRE)-- Orthofix Medical Inc. (NASDAQ:OFIX), a leading global medical technology company, today announced the entry into a new credit agreement providing the Company with up to $275 million in a senior-secured term loan with a 48-month interest only period. The term loan is agented by Oxford Finance LLC (“Oxford”) and provides non-dilutive capital and financial flexibility to support Orthofix’s continued focus on profitable growth. The proceeds from the initial funding of the term loan will be used to retire the Company’s existing credit facility and pay related fees and expenses. The remaining capacity will bolster the Company’s access to capital.
LetsGetChecked Completes Acquisition of Truepill
Today, LetsGetChecked, a leading global healthcare solutions company, announced it has finalized the acquisition of Truepill, a leading digital pharmacy platform. This strategic acquisition strengthens the ability of LetsGetChecked to help healthcare partners, including employers, health plans, providers, and life sciences deliver the best quality of care and improve health outcomes across their populations.
Today, LetsGetChecked, a leading global healthcare solutions company, announced it has finalized the acquisition of Truepill, a leading digital pharmacy platform. This strategic acquisition strengthens the ability of LetsGetChecked to help healthcare partners, including employers, health plans, providers, and life sciences deliver the best quality of care and improve health outcomes across their populations.
Click Therapeutics Announces CT-132 Met Primary Endpoint for the Reduction of Monthly Migraine Days in ReMMi-D Pivotal Trial
Click Therapeutics, Inc., a leader in Digital Therapeutics™ as prescription medical treatments, today announced meeting the primary endpoint in the pivotal randomized, double-blind, controlled, decentralized, study of CT-132 for the preventive treatment of migraine, ReMMi-D (Reduction in Monthly Migraine Days, NCT05853900).
Click Therapeutics, Inc., a leader in Digital Therapeutics™ as prescription medical treatments, today announced meeting the primary endpoint in the pivotal randomized, double-blind, controlled, decentralized, study of CT-132 for the preventive treatment of migraine, ReMMi-D (Reduction in Monthly Migraine Days, NCT05853900).
Mind Medicine Inc. Announces Pricing of Public Offering
MindMed, a clinical stage biopharmaceutical company developing novel product candidates to treat brain health disorders, today announced the pricing of an underwritten public offering of 9,285,511 common shares, without par value, at a public offering price of $7.00 per common share, and, to certain investors, pre-funded warrants to purchase 1,428,775 common shares at a price of $6.999 per pre-funded warrant, which represents the per share public offering price for the common shares less the $0.001 per share exercise price for each such pre-funded warrant. The gross proceeds to MindMed from the offering, before deducting underwriting discounts, commissions, and other offering-related expenses, are expected to be approximately $75 million.
MindMed, a clinical stage biopharmaceutical company developing novel product candidates to treat brain health disorders, today announced the pricing of an underwritten public offering of 9,285,511 common shares, without par value, at a public offering price of $7.00 per common share, and, to certain investors, pre-funded warrants to purchase 1,428,775 common shares at a price of $6.999 per pre-funded warrant, which represents the per share public offering price for the common shares less the $0.001 per share exercise price for each such pre-funded warrant. The gross proceeds to MindMed from the offering, before deducting underwriting discounts, commissions, and other offering-related expenses, are expected to be approximately $75 million.
HarmonyCares Secures $200M to Expand Access to In-Home Primary Care
HarmonyCares, a leading provider of value-based in-home longitudinal care, today announced that it has raised $200M of capital to bring its integrated, physician-led in-home care model to more vulnerable patients nationwide. The funding round was led by General Catalyst, McKesson Ventures, and a large national payor which were joined by K2 HealthVentures and existing investors, Rubicon Founders, Valtruis, HLM Capital, and Oak HC/FT to expand HarmonyCares services to additional geographies and develop new technology to drive clinical outcomes and patient satisfaction at scale.
HarmonyCares, a leading provider of value-based in-home longitudinal care, today announced that it has raised $200M of capital to bring its integrated, physician-led in-home care model to more vulnerable patients nationwide. The funding round was led by General Catalyst, McKesson Ventures, and a large national payor which were joined by K2 HealthVentures and existing investors, Rubicon Founders, Valtruis, HLM Capital, and Oak HC/FT to expand HarmonyCares services to additional geographies and develop new technology to drive clinical outcomes and patient satisfaction at scale.
Life Science Cares Boston launches Health Equity Portfolio Co-Investment Program as part of Anti-Poverty Strategy for Greater Boston
[Cambridge, MA June 3, 2024] — Life Science Cares Boston (LSC Boston), an anti-poverty nonprofit organization rooted in the life sciences, is proud to announce the launch of a new grantmaking program aimed at addressing health inequities among low-income families and communities in the Greater Boston area. K2 HealthVentures, an alternative investment firm that provides flexible, long-term financing solutions in the life sciences and healthcare industries, has partnered with LSC Boston as the seed funder for this initiative.
[Cambridge, MA June 3, 2024] — Life Science Cares Boston (LSC Boston), an anti-poverty nonprofit organization rooted in the life sciences, is proud to announce the launch of a new grantmaking program aimed at addressing health inequities among low-income families and communities in the Greater Boston area.
Since 2016, LSC Boston has leveraged the talent, passion, and community investments of the life science industry to fight poverty and provide a platform for the city’s leading industry to make a difference in the community. Through leveraging partnerships with life science companies and executives, LSC Boston has granted nearly $10 Million to 85 nonprofits providing access to Basic Needs, Education, and Economic Opportunity.
LSC Boston is now expanding their commitment to disrupt the cycle of poverty by launching a new Health Equity program that invests in nonprofits improving health and wellness across three areas: Safe Homes & Vibrant Communities; Access to Equitable, Dignified Care; and Advocacy and Civic Wellness. Through this initiative, LSC Boston will provide crucial support to organizations delivering innovative, community-based solutions that improve health outcomes and foster vibrant, resilient communities.
K2 HealthVentures, an alternative investment firm that provides flexible, long-term financing solutions in the life sciences and healthcare industries, has partnered with LSC Boston as the seed funder for this initiative.
“We are proud to join Life Science Cares Boston in their mission to create a healthier, more equitable Boston. K2 HealthVentures was built on the idea of ‘profit with a purpose’ and since our founding, giving back to our community and supporting underserved areas in healthcare has been core to our work,” said Parag Shah, Founding Managing Director & CEO of K2 HealthVentures. “This investment exemplifies the power of collaboration between the private sector and nonprofit organizations to address complex societal challenges. We are grateful for the opportunity to partner with Life Science Cares Boston to support our shared passion for improving outcomes for those most in need.”
In recognition of their innovative vision and commitment to disrupting the cycle of poverty in Greater Boston, K2 HealthVentures was awarded the 2024 Luke Timmerman Impact Award by Life Science Cares Boston.
“This work will be a new focus of our work at Life Science Cares Boston,” said Yvonne Spicer, EdD, Executive Director of LSC Boston. “Through this pilot program, we hope to show our ability to make a significant collective impact on health outcomes and promote social justice in our community.”
LSC Boston invites potential investors and philanthropic partners to join in this critical effort to address health inequities and create a healthier, more equitable future for all.
Nonprofit organizations interested in applying for grants can expect a transparent and structured process, with grants ranging from $15,000 to $75,000 per year, to provide unrestricted funding, awarded in two-year increments.
“The reality is that income and health are inextricably linked,” said Kelly Brawn, PhD, Head of Programs and Community Engagement at LSC Boston. “I’m incredibly proud of the impact we have and continue to make, but it is clear that we can—and therefore must—do more to disrupt the pernicious cycle of poverty. Investing in creative solutions that improve the health of our neighbors will allow us to do just that.”
From ensuring high-quality maternal health to disrupting systems that perpetuate the cycle of poverty to providing equal access to green space, this new program allows us to reach further into our community and support more of our neighbors in need.
For more information on how to apply or become a co-investor, please visit www.lifesciencecares.org/health-equity
Life Science Cares (LSC) activates the financial and human capital of the life sciences industry and partners with nonprofits to disrupt the cycle of poverty and inequality in our communities. LSC was founded to move the needle on issues of poverty, while helping companies build connections with the community and internally between employees.
Werewolf Therapeutics Reports First Quarter 2024 Financial Results and Provides Business Update
In May 2024, Werewolf entered into a loan and security agreement with K2 HealthVentures, a healthcare focused specialty finance company, which provides Werewolf with access to up to $60.0 million in capital, $30.0 million of which was drawn at closing and, along with the Company’s existing cash, was used to repay the Company’s loan with Pacific Western Bank.
VBI Announces Agreement to Sell Manufacturing Capabilities, Certain Related Assets, and Enter Into New License Agreement with Brii Biosciences
VBI Vaccines Inc., a biopharmaceutical company driven by immunology in the pursuit of powerful prevention and treatment of disease, today announced agreements whereby Brii Biosciences, subject to certain activities, is expected to: (i) acquire the intellectual property for VBI-2601, VBI’s HBV immunotherapeutic development program, and eliminate payment obligations from the July 2023 agreements between VBI and Brii Bio, (ii) acquire manufacturing capabilities and certain related assets at VBI’s Rehovot, Israel manufacturing facility, and (iii) enter into an exclusive license to develop and commercialize VBI-1901, VBI’s glioblastoma (GBM) immunotherapeutic candidate, in the Asia Pacific region (APAC), excluding Japan. Additionally, subject to certain approvals, VBI and Brii Bio will work together to transfer the manufacturing technologies of VBI-2601 to a site designated by Brii Bio. VBI received $2.5 million of consideration upon signing of definitive documents and is expected to receive up to an additional $30.5 million of consideration, subject to achievement of certain activities, with a target completion date of June 30, 2024.
VBI Vaccines Inc., a biopharmaceutical company driven by immunology in the pursuit of powerful prevention and treatment of disease, today announced agreements whereby Brii Biosciences, subject to certain activities, is expected to: (i) acquire the intellectual property for VBI-2601, VBI’s HBV immunotherapeutic development program, and eliminate payment obligations from the July 2023 agreements between VBI and Brii Bio, (ii) acquire manufacturing capabilities and certain related assets at VBI’s Rehovot, Israel manufacturing facility, and (iii) enter into an exclusive license to develop and commercialize VBI-1901, VBI’s glioblastoma (GBM) immunotherapeutic candidate, in the Asia Pacific region (APAC), excluding Japan. Additionally, subject to certain approvals, VBI and Brii Bio will work together to transfer the manufacturing technologies of VBI-2601 to a site designated by Brii Bio. VBI received $2.5 million of consideration upon signing of definitive documents and is expected to receive up to an additional $30.5 million of consideration, subject to achievement of certain activities, with a target completion date of June 30, 2024.