This Week in Healthcare Fundings

News

In a groundbreaking move, General Catalyst announced yesterday its plans to acquire Summa Health , a health system based in Akron, Ohio, intending to convert it into a for-profit entity. As noted by Axios, this strategy is unprecedented for a venture firm and positions General Catalyst as a potentially dominant force in developing and selling #healthcaretechnology.

Mirae Asset Capital Life Science has made its debut, unveiling a commitment to invest $50 million in select US #biotechnology companies. As FierceBiotech points out, this venture unit represents the sole US arm dedicated to #biotech within the Mirae Asset Financial Group, a global entity headquartered in Seoul, South Korea.

Funding

Accent Therapeutics, Inc. , a Lexington, Massachusetts-based startup established six years ago, has secured $75 million in a Series C funding round. This startup is focused on developing targeted therapies for various cancers, including breast, ovarian, colorectal, endometrial, and gastric cancers. Mirae Asset Capital Life Science led the funding round. It included contributions from Bristol-Myers Squibb and J&J Innovation, as well as returning investors such as The Column Group , Atlas Venture , Droia Ventures , GV (Google Ventures) , EcoR1 Capital, LLC , AbbVie Ventures, The Mark Foundation for Cancer Research , and Timefolio Capital .

Forta , a company specializing in AI-enabled, family-centered autism therapy, recently announced the completion of a $55 million Series A funding round. This investment was led by Insight Partners , with participation from Alumni Ventures , Exor Ventures , and several founders.

Turquoise Health , a startup based in San Diego and founded three years ago, has secured $30 million in a Series B funding round. The company has developed a #healthcare search engine to simplify seeking healthcare services and make purchasing a plane ticket easier. The funding round was spearheaded by Adams Street Partners , with contributions from Yosemite and continuing support from previous investors Andreessen Horowitz and BoxGroup .

GenEdit , a startup based in South San Francisco and established seven years ago, has raised $24 million in a Series A1 funding round. Specializing in the development of genetic medicines for neuromuscular diseases, genetic disorders, and neurological disorders, GenEdit has attracted investments from a diverse group of backers. This round saw participation from new investors KDB Silicon Valley LLC , Mirae, ACVC , Pathway Partners LLC - Network and Telecommunications , LoftyRock Investment, Terra VC , K2 Investment, Dong-A ST, KIMCO Solutions , and Huons Additionally, previous investors like 礼来 , Sequoia Capital , Korea Investment Partners , Woori Venture Partners US , DAYLI Partners , KB Investment , IMM Investment Corp. , and Timefolio Asset Management continued their support.

PROTA THERAPEUTICS PTY LTD , a seven-year-old startup based in Melbourne, is preparing to launch a Phase 3 @clinicaltrial for its oral treatment for #peanutallergies. It has successfully raised $21 million through equity and debt financing. SGI led this funding round.

Granata Bio , a Boston-based startup established five years ago and focused on developing #fertility medications, has recently secured $14 million in a Series A funding round. GV (Google Ventures) led this round with CooperSurgical , Gedeon Richter, Alumni Ventures , Amboy Street Ventures , and Vibe Bio participation.

Sano Genetics , a startup from Cambridge, England, established six years ago and focused on aiding #clinicaltrials, especially in #precisionmedicine, has recently raised $11.4 million. Plural led this funding round and saw participation from prior investors such as MMC Ventures , Episode 1 Ventures , and Seedcamp .

Care Continuity , a decade-old company in Irving, Texas, specializing in software that coordinates patient care across various healthcare settings, has raised $10 million in a Series A-3 funding round. Empactful Capital and Viewside Capital Partners co-led this round, with additional investments from Flat Creek Capital LP and Loop 289 Limited Partners.

XRHealth , a Boston-based startup offering #teletherapy through #virtualreality headsets for patients with stress and anxiety, chronic pain, fibromyalgia, and neurological conditions, has raised $6 million in funding. This round was led by Asabys Partners and included participation from NOVA Prime Fund .

NEXT Life Sciences , a startup in San Luis Obispo, California, working on developing a male contraceptive, has successfully raised $2.5 million in a seed funding round. The Family led this round, with additional participation from TRANSFORM VC .

You Are Accountable , a New York-based startup established three years ago, specializing in providing online support for individuals recovering from drug and alcohol addiction, has raised $2 million in funding from GEHA Ventures.