Week of July 3, 2017 | Vol. 6, Issue 25
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Roche buys diabetes app firm in digital health push
Roche has bought Vienna-based diabetes management platform mySugr for an undisclosed price, the Swiss drugmaker said on Friday, joining a crowd of companies expanding app-based digital health services.
Privately held mySugr offers a logbook for mobile devices to help people track their blood sugar, medications and activity levels. It has been working with Roche since 2014 and previously got funding from Roche's Venture Fund.
With the acquisition, Roche aims to strengthen a diabetes diagnostics business that has faced fierce price pressure in recent years, cutting sales growth and prompting rumors it wants to unload the business. Roche has said it wants to expand the unit, not sell it.
"The investment reflects our commitment to our diabetes care business and to improving the lives of people with diabetes," a Roche spokeswoman said on Friday. The takeover also underscores the push by medical device makers seeking to harness wireless technology and "big data". Another diabetes tech startup, U.S.-based Glooko, has lured cash from Medtronic and others for a similar platform.
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Atlas rolls out its XI biotech fund, with $350M up
Cambridge venture capital firm Atlas Venture has raised its 11th fund, totaling $350 million, as it looks to advance its mission of "doing well by doing good" for biotechs.
Fund XI includes investing partners
Kevin Bitterman-recently nabbed from Polaris-Bruce Booth, and David Grayzel, as well as Atlas partners Jason Rhodes and Jean-François Formela.
In the oversubscribed Fund XI, Peter Barrett will transition into a venture partner role where he will focus on actively managing existing Atlas investments and assisting in firm ops, the VC says in a
statement
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"We've been humbled by the interest from the investor community in Fund XI," said Formela. "The deep support shown by limited partners who have invested alongside us for multiple funds, as well as by those that are joining us for the first time, is a strong validation of our model."
Atlas has had a hand in a number of major startups over the years through funding rounds, incubation and launches. Over the past year, Atlas has helped with a series of funding rounds for biotechs, and late last year, in a first for the life science venture capital world, it teamed up with Third Rock in a $48.5 million series A to
create and launch
Magenta Therapeutics, a new biotech that aims to reset and refresh the immune system.
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Below are summaries and charts with the past week's transactions from the different healthcare sectors. For a detailed table showing data for each industry transaction click on any of the charts or use the download link above. Total transaction values are provided in USD millions.
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Pharma & Biotech
15 transactions totaling $397 million
Supplies, Equipment & Services
18 transactions totaling $2,116 million
Healthcare IT & Managed Care
0 transactions
Healthcare Facilities & Distributors
10 transactions totaling $617 million
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Pharma & Biotech
24 private placements totaling $454 million
Supplies, Equipment & Services
10 private placements totaling $85 million
Healthcare IT & Managed Care
8 private placements totaling $186 million
Healthcare Facilities & Distributors
2 private placement totaling $10 million
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Pharma & Biotech
9 public offerings totaling $873 million
Supplies, Equipment & Services
2 public offerings totaling $27 million
Healthcare IT & Managed Care
0 public offerings
Healthcare Facilities & Distributors
2 public offering totaling $52 million
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 Each week, w
e provide updated trading
comps for leading comp
anies from numerous healthcare subsectors.
To the right you will see a high-level breakdown of median revenue and EBITDA multiples for each of the specific subsectors
For a complete trading comp analysis (including the individual equities that comprise the subsectors), click on the table to the right or use the download link from the top of this newsletter.
Note: data reflects prior week close.
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RECENT INDUSTRY HEADLINES
A Sampling of Relevant Industry Headlines from the Last Week
Below are snippets from relevant industry news articles from the past week. For additional information or the article's complete text, click the headline link to view the original publication.
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June 29, 2017 -
Fierce Biotech
Merck KGaA has
taken its oncology collaboration with Cancer Research Technology (CRT) to the next level. The move sees Merck and CRT kick off a full drug discovery program aimed at the Hippo pathway after spending a year on target validation.
CRT and Merck began work on the pathway late in 2015. At that time, the goal was to validate the potential to treat cancer via the Hippo pathway and figure out how best to drug key targets. That done, the partners are now working to identify molecules to take into preclinical development and beyond.
Buyout groups Bain Capital and Cinven are talking to investors about a potential new offer for German generic drugmaker Stada (
STAGn.DE) after their 5.3 billion euro ($6 billion) bid fell through, people close to the matter said.
Investors representing 65.52 percent of Stada's equity signed up for the bid, below a 67.5 percent threshold, despite the 49 percent premium offered by the buyout groups to trump a rival offer from private equity duo Advent and Permira.
June 27, 2017 -
Fierce Biotech
Under a cloud of claims and counterclaims, controversial billionaire biotech entrepreneur Patrick Soon-Shiong and his outfit NantCell say they will acquire Altor Bioscience for two bucks a share, plus a weighted CVR worth up to $4 per share should it hit biobucks milestones.
The very
brief update
says: "The upfront payment alone represents over a 20% premium to Altor BioScience's most recent equity financing completed in March 2017 and a 33% premium to equity financings in 2016.
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UPCOMING EVENTS
An Overview of Events Hosted or Attended by the Bourne Partners Team
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7th Annual Global Healthcare Executive Summit
October 4, 2017 | Charlotte, NC
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As an international, healthcare-focused merchant bank and financial advisory firm, we provide world-class services and capital to middle-market healthcare companies around the globe. We aim to keep our clients well-informed of healthcare news and events. With this additional insight in mind, together, we can recognize trends and opportunities that benefit our clients. We hope that you will reach out to Bourne Partners to help execute your healthcare operational and transactional needs. To learn more about our firm, visit our website or utilize the links below to engage with us on social media.
Sincerely,
The Bourne Partners Team
Bourne Partners
550 South Caldwell Street
Suite 900
Charlotte, NC 28202
704-552-8407
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STAY CONNECTED
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