Investment Summary

Adams Street Partners, Andera Partners and HBM Partners Invest In Mineralys

On June 8, 2022, asset manager Adams Street Partners, private equity firm Andera Partners and private equity firm HBM Partners invested in life science company Mineralys

Investment Highlights
  • This is Adams Street Partners’ 23rd, Andera Partners’ 27th and HBM Partners’ 56th transaction in the Life Science sector.
  • This is Adams Street Partners’ 139th, Andera Partners’ 7th and HBM Partners’ 44th transaction in the United States.
  • This is Adams Street Partners’ 3rd, Andera Partners’ 2nd and HBM Partners’ 4th transaction in Pennsylvania.
Investment Fate
  • Mineralys went public in 2023.

Investment Summary

Date 2022-06-08
Target Mineralys
Sector Life Science
Investor(s) Adams Street Partners
Andera Partners
HBM Partners
Deal Type Venture

Target

Mineralys

Radnor, Pennsylvania, United States
Mineralys is a clinical-stage biopharmaceutical company focused on developing medicines to target diseases driven by abnormally elevated aldosterone. Its initial product candidate, lorundrostat, is a proprietary, orally administered, highly selective aldosterone synthase inhibitor that the company is initially developing for the treatment of patients with uncontrolled hypertension. Mineralys was founded in 2019 and is based in Radnor, Pennsylvania.

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Investor(S) 3

Investor

Adams Street Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1972
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Adams Street Partners is a diversified, global investment firm that targets direct, fund of funds, and secondary investments. Adams' direct investing group covers co-investments in buyout transactions, as well as growth equity and venture capital commitments. The direct buyout and growth equity team looks to commit $5 to $30 million per transaction. For venture related investments, commitments of $5 to $20 million are provided to companies in the technology, life sciences and technology enabled services sectors. Typically, target companies have received prior financing from early stage venture firms and are seeking additional capital to fund product development and commercialization. Adams Street Partners was formed in 1972 and is based in Chicago, Illinois.


DEAL STATS #
Overall 151 of 152
Sector: Life Science M&A 23 of 23
Type: Venture M&A Deals 102 of 102
State: Pennsylvania M&A 3 of 3
Country: United States M&A 139 of 140
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-01 Vitalyst

Bala Cynwyd, Pennsylvania, United States

Vitalyst is a provider of remote, desktop application software support services for Fortune 1000 Companies. The Company works in partnership with clients' IT departments as both a Help Desk support enhancement as well as a remote training department for desktop application software. Vitalyst was founded in 1992 and is based in Bala Cynwyd, Pennsylvania.

Sell $50M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-27 Peerless Network

Chicago, Illinois, United States

Peerless Network provides agile, cost-effective, and simple-to-deploy voice services, including unified communications-as-a-service, session initiation protocols (SIP) trunking, messaging, APIs and Microsoft Teams integration. Peerless Network was founded in 2008 and is based in Chicago, Illinois.

Sell $200M
Investor

Andera Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 3.7B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Andera Partners is a private investment firm focused on several strategies. The Firm invests in life science opportunities through its BioDiscovery group. The Firm invests in Western European small to mid-sized companies (€30 to €300 million of revenue) through its Winch Capital group. Andera invests in small to mid-sized French companies (€10 to €100 million of revenue) through its Cabestan Capital team. Andera invests in €5 to €45 million of mezzanine capital to support small to mid-sized French companies. Andera Partners was established in 2001 and is headquartered in Paris.


DEAL STATS #
Overall 102 of 106
Sector: Life Science M&A 27 of 27
Type: Venture M&A Deals 28 of 28
State: Pennsylvania M&A 2 of 2
Country: United States M&A 7 of 7
Year: 2022 M&A 9 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-10 Formalogistics

Bagnolet, France

Formalogistics is a brand of pegase group which offers certifying training to its students in the short-lived jobs of logistics, transport of goods and people via FormaLogistics and gives access to sectors that are recruiting. Formalogistics was founded in 2018 and is based in Bagnolet, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-26 La Vie Saine

Chenove, France

La Vie Saine is a distribution network of organic products. La Vie Saine was founded in 1952 and is based in Chenove, France.

Sell -
Investor

HBM Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 2.1B USD
Size Large
Type Sector Focused
DESCRIPTION

HBM Partners is a private investment firm focused on investing in entrepreneurial biopharma and other healthcare-related companies in Europe, North America, India and other Emerging Markets. HBM looks to invest $5 to $50 million per transaction and will consider private and public companies. HBM Partners was established in 2001 and is headquartered in Zug, Switzerland.


DEAL STATS #
Overall 65 of 65
Sector: Life Science M&A 56 of 56
Type: Venture M&A Deals 52 of 52
State: Pennsylvania M&A 4 of 4
Country: United States M&A 44 of 44
Year: 2022 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-03 Turning Point Therapeutics

San Diego, California, United States

Turning Point Therapeutics is a clinical-stage precision oncology company with a pipeline of investigational drugs designed to address key limitations of existing cancer therapies. The company’s lead drug candidate, repotrectini, is a next-generation kinase inhibitor targeting the ROS1 and TRK oncogenic drivers of non-small cell lung cancer and advanced solid tumors. Turning Point Therapeutics was formed in 2013 and is based in San Diego, California.

Sell $4.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-15 Acrivon

Watertown, Massachusetts, United States

Acrivon is a proprietary, streamlined approach to develop patient selection tumor biopsy tests, called OncoSignature tests. Company’s lead molecule ACR-368 is a potent, selective inhibitor of CHK1 and CHK2 which has shown deep durable single agent activity, including complete responses, in a proportion of patients across several Phase 2 studies of platinum-resistant ovarian cancer and in squamous cell cancers, including anal cancer for which FDA has granted orphan drug designation. Acrivon was founded in 2018 and is based in Watertown, Massachusetts.

Sell -