Deal Wrap is updated as of 4 p.m. ET.
– An investor group sold digital therapeutics company Limbix Health Inc. to Big Health, according to S&P Global Market Intelligence data. The group includes Operator Partners LLC, Pacific Health Ventures, Gaingels LLC, Mana Ventures LLC, NextGen Venture Partners, GSR Ventures Management Co. Ltd., Korea Investment Partners Co. Ltd., DN Capital (UK) LLP, Storm Ventures LLC, Sequoia Capital Operations LLC and MVP Capital Partners.
– Frequency Therapeutics Inc. and Korro Bio Inc. agreed to merge in an all-stock transaction. Current investors of Frequency Therapeutics include Evans Capital Management LLC, Polaris Founders Capital, Axil Capital Partners LLP, Taiwania Capital Management Corp., Yonjin Venture LLC, Cobro Ventures Inc., Mizuho Securities Principal Investment Co. Ltd., 5Y Capital, Korea Investment Partners and Emigrant Capital Corp., according to S&P Global Market Intelligence data. The combined company is expected to operate under Korro Bio and will apply to trade on Nasdaq under the ticker symbol KRRO. J.P. Morgan Securities LLC is serving as exclusive financial adviser and Goodwin Procter LLP is acting as legal counsel to Korro Bio. TD Cowen is serving as exclusive financial adviser and Latham & Watkins LLP is acting as legal counsel to Frequency Therapeutics.
– Eli Lilly and Co. agreed to acquire clinical-stage biopharmaceutical company Versanis Bio Inc. Versanis is a portfolio company of Medicxi Ventures (UK) LLP.
– Kahoot! ASA, a learning and audience engagement platform company, announced an agreement for a recommended voluntary all-cash offer from the private equity business within Goldman Sachs Asset Management, with other co-investors including General Atlantic Ft BV, Kirkbi Invest A/S and Glitrafjord AS, to acquire all issued and outstanding shares in Kahoot! The offer is being made through Kangaroo BidCo AS, a newly formed Norwegian limited liability company established by Goldman Sachs Asset Management for the purpose of the offer. Goldman Sachs International and Danske Bank, Norwegian Branch, are serving as financial advisers to the offeror, while White & Case LLP, Advokatfirmaet Wiersholm AS, Sullivan & Cromwell LLP and Linklaters LLP are acting as legal advisers. Advokatfirmaet BAHR AS, Morgan Lewis & Bockius LLP and Macfarlanes LLP are serving as legal advisers to Kirkbi.
– Patoka Capital LLC completed the sale of Cyber Sciences Inc., which manufactures products for monitoring electrical power systems, to Trystar LLC.
For further private equity deals, read our latest In Play report, which looks at potential private equity-backed M&A, including rumored transactions, each week.
