Deal Wrap: ArchiMed to buy Instem; BioInnovation sells Embark to Novo

Deal Wrap is updated as of 4 p.m. ET.

– ArchiMed SAS agreed to acquire healthcare technology company Instem PLC for 833 pence per share in a cash deal. Moelis & Co. UK LLP was the adviser to ArchiMed while Rothschild & Co. and Singer Capital Markets were the financial advisers to Instem.

– Serina Therapeutics Inc. entered into a merger agreement with biotechnology company AgeX Therapeutics Inc. in an all-stock deal. Kizoo Technology Ventures is the seller, according to S&P Global Market Intelligence. Gibson Dunn & Crutcher LLP acted as legal counsel to AgeX and Bradley Arant Boult Cummings LLP provided legal counsel to Serina.

– Ai Software LLC, doing business as Capacity, acquired Denim Software Inc. from JAM Special Opportunity Ventures and FINTOP Capital, S&P Global Market Intelligence data shows.

– Novo Nordisk A/S completed the acquisition of Embark Biotech ApS, which develops novel drugs for obesity and associated metabolic diseases, and entered into a three-year research and development collaboration with the company. Under the deal, Embark shareholders will receive €15 million in an upfront cash payment, in addition to potential milestone payments of up to €456 million. BioInnovation Institute is the seller in this transaction, according to S&P Global Market Intelligence data.

– Fusion Acquisition Corp. II signed a letter of intent to acquire innovative transportation and technology company Hyperloop Transportation Technologies Inc. and expects to sign a definitive agreement in the fourth quarter. Private equity firm Lauder Partners LLC is the seller in the deal, S&P Global Market Intelligence shows.

– Tower Arch Capital LP recapitalized TD&I Cable Maintenance Inc. in partnership with the companies founders and management team for an undisclosed amount. Gibson, Dunn & Crutcher LLP and BDO USA LLP were advisers to Tower Arch, while Hennepin Partners and Fabyanske Westra Hart & Thomson PA advised TD&I.

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.