Follow the Money: Peloton Therapeutics Files for $150M IPO, Caris Acquires Pharmatech

You’ll also find news about OncoNano, Mark Cuban, Revint Solutions, Payment Partners, ESO, and eCore Software in this roundup of funding, merger, and acquisition activity involving investors and companies with ties to North Texas.

funding

What companies are finding funding or having a big exit? From startup investments to grants to acquisitions, Dallas Innovates tracks what’s happening in North Texas money every Thursday. Sign up for our e-newsletter to stay in the loop.

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Peloton Therapeutics files for $150M initial public offering

Dallas-based biotech Peloton Therapeutics has filed for an initial public offering and plans to raise up to $115 million to fund late-stage clinical trials, according to a filing with the U.S. Securities and Exchange Commission.

Peloton is a developer of small molecule drugs to treat kidney cancer and other diseases. The company has applied for a listing on the Nasdaq stock exchange under the stock symbol “PLTX.”

In February, Peloton Therapeutics closed on an oversubscribed $150 million Series E financing round led by RA Capital Management and was joined by new investors including Eventide Asset Management, Biotechnology Value Fund, OrbiMed, EcoR1 Capital, Vida Ventures, Curative Ventures, and Driehaus Capital Management LLC.

OncoNano raises $22M for its cancer-fighting technology

Southlake-based OncoNano Medicine says it’s raised $22 million to bolster its cancer-fight efforts. The venture funding round raises the company’s total funding to more than $40 million.

OncoNano Medicine Inc. President and CEO Ravi Srinivasan told the Dallas Business Journal that the funding would help with a new trial and to develop new ways to expand its applications.

Founded in 2014, OncoNano is using fluorescent payloads that light up tumors, helping ensure that it’s fully removed during surgery. The company uses specialized compounds to help surgeons find cancer during a procedure.

This funding round comes on the heels of an $11.7 million funding round that was raised last year by OncoNano.

Mark Cuban leads $3.1M funding round for Sythesia

Dallas billionaire investor and Dallas Mavericks owner Mark Cuban led a $3.1 million seed funding round for Synthesia, a United Kingdom-based startup that is developing video synthesis technology.

LDV Capital also led the round that included new MMC Ventures, Seedcamp, Martin Varsavsky’s VAS Ventures, TransferWise co-founder Taavet Hinrikus, Tiny VC, and advertising executive Nigel Morris. Synthesia’s cloud-based platform, ENACT, enables customers to automatically generate personalized and interactive video content for their audiences faster and at a lesser cost.

The company has developed unique breakthroughs in computer vision, graphics, and deep learning to achieve fully photorealistic video synthesis of humans. 

Its customers include global brands such as Accenture, McCann Worldgroup, the Dallas Mavericks, and Axiata Group.

milk + honey raises undisclosed amount in funding round

Fort Worth-based spa and beauty brand milk + honey announced that it has raised an undisclosed amount of funding.

FinSMEs reported that the funding came from Connecticut-based Emil Capital Partners, Keller Capital of Austin, and Tim Ferriss, and entrepreneur, author, and podcaster.

The company says it will use the funding to expand its spas into new areas like Los Angeles. It will also expand its organic, clean product line into additional retail channels, FinSMEs reported. Currently, the line is available at select Neiman Marcus locations and via its online store.

Milk + honey provides spa experiences with a full range of spa treatments including massages, facials, waxing, body treatments, and natural nail therapy. The company’s line of products is for the body, face, and hair, and it’s made with hyperclean ingredients, according to the company’s website. The company was founded in 2006 by Alissa Bayer.

MERGERS & ACQUISITIONS

Caris acquires Pharmatech in move that could enhance clinical trials

Caris Life Sciences, an Irving-based innovator in molecular science focused on fulfilling the promise of precision medicine, has acquired Denver-based Pharmatech, Inc., a pioneer of the original Just-In-Time research system with the largest research-ready oncology network.

No financial details of the acquisition were released.

Caris said that the acquisition could fundamentally redefine how pharmaceutical and biotechnology companies identify and rapidly enroll patients in precision oncology trials by combining its large-scale molecular profiling services with Pharmatech’s on-demand site activation and patient enrollment system.

In addition to accelerating study recruitment, Caris said the pairing will expand the enrollment opportunities for industry-leading clinical trials beyond the few academic medical centers that are typically tapped. 

Caris says with Pharmatech’s research-ready oncology network, it now can connect physicians and patients at hundreds of cancer research centers nationwide, including universities, hospitals, and advanced community-based sites.


READ NEXT Caris Life Sciences Acquires Pharmatech Inc. to Bring the Right Clinical Trials to Cancer Patients Faster


Plano-based Revint Solutions acquires Payment Partners 

Revint Solutions, the Plano-based provider of revenue integrity solutions for healthcare providers, announced it acquired Payment Partners, a provider of worker’s compensation claim reimbursement services.

No financial terms of the deal were released.

The company said the acquisition is part of its focus on extending its suite of revenue integrity services and solutions.

Revint offer solutions to more than 1,700 healthcare organizations in the U.S. and helps recover over $475 million of underpaid or unidentified revenue for its clients annually.

ESO acquires scheduling platform provider eCore Software

Austin-based ESO has acquired Dallas-based eCore Software, a scheduling platform for emergency medical services agencies and fire departments.

No financial terms of the acquisition were released.

ESO sells electronic medical record software. The acquisition will allow ESO to expand its offerings, the Austin American-Statesman reported. Found in 1998, eCore’s platform offers employee scheduling management, an online time clock, and attendance and payroll control. 

AMN Healthcare to acquire Florida-based healthcare staffing business

AMN Healthcare, a provider of workforce solutions and healthcare staffing services, announced it has agreed to acquire Advanced Medical Personnel Services Inc., a Florida-based healthcare staffing company, for $200 million.

AMN, which is headquartered in San Diego, California, has an operation in Dallas. The acquisition is expected to close in June.

READ NEXT

Follow the Money: Novo Labs Reaps $2M in Seed Funding; Jacobs Buys Intelligence Company for $815M

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