Managers

VC-backed Cabaletta Bio begins trading on NASDAQ

Cabaletta Bio, a biotech company, has debuted its IPO after pricing its 6.8 million shares at $11 per share. The stock began trading October 25, 2019 on the NASDAQ under the ticker symbol "CABA." Morgan Stanley, Cowen and Evercore ISI are the lead underwriters. Cabaletta Bio's pre-IPO backers include 5 AM Ventures and Adage Capital Partners.

VC-backed Progyny debuts IPO

Progyny, a fertility benefits management company, has raised $130 million for its IPO after pricing its 10 million shares at $13 per share. The stock began trading October 25, 2019 on the NASDAQ under the ticker symbol "PGNY." JP Morgan, Goldman Sachs and BofA Securities are the lead underwriters. Progyny's pre-IPO backers include Kleiner Perkins, TPG Biotech and Union Grove Venture Partners.

Phathom Pharmaceuticals goes public

Menlo Park, California-based Phathom Pharmaceuticals, a biopharmaceutical company focused on treating gastrointestinal diseases, has raised about $181.7 million for its IPO after pricing its over 9.5 million shares at $19 per share. The stock began trading October 25, 2019 on the NASDAQ under the ticker symbol "PHAT." Goldman Sachs, Jefferies and Evercore ISI are the lead underwriters. Phathom's pre-IPO backers include Frazier Healthcare Partners, Medicxi, RA Capital Management, Abingworth, BVF Partners LP, Greenspring Associates, Richard King Mellon Foundation and Sahsen.

Fountain Medical Development scores $62 mln Series D

Fountain Medical Development Limited, a healthcare services company, has raised $62 million in Series D financing. Goldman Sachs and Lilly Asia Ventures led the round.

ShiraTronics nabs $33 mln Series A

Brooklyn Park, Minnesota-based ShiraTronics Inc, a private medical device company, has raised $33 million in Series A financing. USVP, Amzak Health and Strategic HealthCare Investment Partners led the round with participation from other investors that included Aperture Ventures and LivaNova PLC.

Friday Letter: Construction tech building up steam

Darren Bechtel, founder and managing director of Brick & Mortar Ventures, gets at least one call a week from other VCs, who are wanting to co-invest in early-stage construction startups or are looking for a pipeline of such deals to invest in the later rounds.

VCs are still all talk and no action regarding diverse investing

PTC to buy VC-backed Onshape for about $470 mln

PTC has agreed to acquire Cambridge, Massachusetts-based Onshape, a full-cloud 3D CAD system. The purchase price is about $470 million. Barclays served as financial adviser to PTC on the transaction. Onshape's backers include Andreessen Horowitz, New Enterprise Associates, Commonwealth Capital Ventures and North Bridge Venture Partners.

U.K. venture funds fare favorably when compared to U.S.

Catalyst Health holds interim close on fourth fund