M&A Deal Summary

Maxwell Biomedical Acquires Cardialen

On December 14, 2022, Maxwell Biomedical acquired life science company Cardialen from HBM Partners AG

Acquisition Highlights
  • This is Maxwell Biomedical’s 1st transaction in the Life Science sector.
  • This is Maxwell Biomedical’s 1st transaction in the United States.
  • This is Maxwell Biomedical’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2022-12-14
Target Cardialen
Sector Life Science
Buyer(s) Maxwell Biomedical
Sellers(s) HBM Partners AG
Deal Type Add-on Acquisition

Target

Cardialen

Minneapolis, Minnesota, United States
Cardialen is an early-stage medical device company dedicated to advancing implantable cardioversion and defibrillation using low energy for use as a first-line therapy to restore normal heart rhythm and may reduce the potential for high-energy defibrillation shocks. Cardialen was founded in 2008 and is based in Minneapolis, Minnesota.

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Buyer(S) 1

Buyer

Maxwell Biomedical

San Diego, California, United States
Category Company
Founded 2019
Sector Medical Products
DESCRIPTION

Maxwell Biomedical is a development stage, science driven, innovative medical technology company with outstanding people dedicated to advancing long-term solutions for patients with Atrial Fibrillation. Maxwell is developing a first-of-its-kind atrial pacing device that automatically detects AFib and imperceptibly delivers SRT to restore and maintain a normal heart rhythm. Device monitoring and cloud connectivity ensures active and continuous patient care and management. Maxwell Biomedical was founded in 2019 and is based in San Diego, California.

DEAL STATS #
Overall 1 of 1
Sector (Life Science) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1

Seller(S) 1

SELLER

HBM Partners AG

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2001
PE ASSETS 3.0B USD
Size Mega
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 31 of 35
Sector (Life Science) 30 of 32
Type (Add-on Acquisition) 3 of 5
State (Minnesota) 1 of 1
Country (United States) 24 of 27
Year (2022) 3 of 3
PREVIOUS 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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-09 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 2020 and is based in Radnor, Pennsylvania.

Sell -
Mergr

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