$43 Billion Acquisition

Major funding in both U.S and Europe

Dear subscribers,

We hope this newsletter finds you well. Here's a roundup of the latest news and updates from the world of healthcare and biotech funding.

Industry Insights:

The first quarter of 2023 has seen a relatively slow start with $3.4 billion in funding. This is lower than the first quarter totals of the previous two years, which topped $6 billion. I expect Q2 to be quieter than Q2 2022 due to the recent global financial events with SVB Bank, First Republic Bank, and Credit Suisse. Founders will struggle to raise capital, especially at big valuations.

U.S. Funding Rounds:

• Genialis, a Boston-based company, has raised $13 million in its Series A funding round.

• Mercy BioAnalytics, a Massachusetts-based company, has raised $41 million in its Series A funding round.

• Florence, a New York-based company, has raised $20 million in its Seed funding round.

• Wellth, a Los Angeles-based company, has raised $20 million in its Series B funding round.