Lomond Therapeutics Completes Reverse Merger with Venetian-1 and Raises $44M

ICG Acquires Majority Stake in Lomond; LDC and Management Reinvest

December 2, 2024

Real Estate

ICG has invested in Lomond in a transaction in which LDC exits its original investment but will reinvest alongside ICG, founding Chairman Stuart Pender and Lomond management. The recapitalization provides capital to support Lomond's continued roll-up strategy and geographic expansion after the business grew from 600 to 1,900 employees and completed 65 acquisitions under LDC's ownership.

Nanomix Completes Reverse Merger with Boston Therapeutics; $8.4M Convertible Financing

June 29, 2021

Medical Devices

Nanomix, a developer of mobile point-of-care diagnostics, completed a reverse merger with Boston Therapeutics and the combined public company will be renamed Nanomix Holdings, Inc. In conjunction with the merger, the company issued approximately $8.4 million of senior secured convertible notes (approximately $7.9M purchase price) and warrants to accredited investors to fund manufacturing scale-up, commercial operations and expansion of its eLab diagnostics platform.

Graphite Bio Completes Merger with LENZ Therapeutics; Combined Company to Trade as LENZ

March 21, 2024

Biotechnology

LENZ Therapeutics completed its previously announced merger with Graphite Bio and will commence trading on Nasdaq under the ticker LENZ. The transaction included a 1-for-7 reverse stock split, a special cash dividend, and a concurrent $53.5 million PIPE from a syndicate of healthcare investors, leaving the combined company with approximately $210 million in cash to support late-stage CLARITY Phase 3 readouts and planned NDA submission in mid-2024.

Zymergen Acquires Lodo Therapeutics

May 28, 2021

Biotechnology

Zymergen Inc. acquired Lodo Therapeutics Corporation from Accelerator Life Science Partners (ALSP), integrating Lodo’s metagenomic natural‑product discovery platform into Zymergen’s technology stack. ALSP had been an investor and operator of Lodo following a $17 million Series A and a collaboration with Genentech; the financial terms of the deal were not disclosed by ALSP in its announcement.

Aileron Therapeutics Acquires Lung Therapeutics

October 31, 2023

Biotechnology

Aileron Therapeutics, Inc. (NASDAQ: ALRN) completed a stock-for-stock acquisition of Lung Therapeutics, Inc., bringing the clinical-stage pulmonary and fibrosis-focused pipeline (including lead candidate LTI-03) into Aileron's portfolio. Immediately after the acquisition Aileron arranged a private placement led by Bios Partners (with participation from Nantahala Capital and others) to raise approximately $18 million to fund ongoing development, including a Phase 1b trial of LTI-03.

Novartis AG Acquires Chinook Therapeutics

June 12, 2023

Biotechnology

Novartis AG agreed to acquire Chinook Therapeutics for $40 per share in cash, with contingent value rights of up to $4 per share tied to regulatory milestones —bringing total consideration to as much as approximately $3.5 billion. The acquisition, approved by both companies' boards, brings Chinook's kidney-disease pipeline into Novartis' renal portfolio and was expected to close in the second half of 2023 subject to customary conditions.