With the ongoing push toward value-based care, providers are looking for ways to improve patient outcomes while also lowering health care costs. Los Angeles-based Dearhealth Inc.'s artificial intelligence-powered software-as-a-service (SaaS) platform aims to do meet that demand by helping physicians better manage patients with chronic conditions. Now Philips Health Technology Ventures and other large investors are putting their money behind the company, seeing an opportunity to generate real movement in advance population health.

LONDON – Medicxi has closed a €400 million (US$449 million) third fund, bringing the amount raised by the venture capital firm since it split off from its parent Index Ventures three years ago, to more than $1 billion.

Kronos Bio Inc. closed a $105 million series A preferred stock financing, shored up by a board composed of longtime pharma executives that includes the company CEO and president, Norbert Bischofberger, the former Gilead Sciences Inc. R&D executive vice president and chief science officer.

Obseva SA, of Geneva, said its board approved an increase of its share capital from 45.5 million shares to 48.6 million. The shares will be listed on the SIX Swiss Exchange on or around July 23.

Xenetic Biosciences Inc., of Framingham, Mass., priced a public offering of 2.3 million shares and warrants to purchase up to 2.3 million shares.

HONG KONG – Biocure Technology Corp., a Canadian biopharmaceutical company focusing on biosimilar products, is advancing a CAR T product through its South Korean subsidiary, Biocurepharm Inc., thanks to a recently closed private placement.

Gns Healthcare landed $23 million in a series D fundraising round led by Cigna Ventures. Cigna's wholly owned corporate venture fund joined Amgen Ventures, Celgene Corp., Echo Health Ventures, Alexandria Venture Investments and Gary Loveman, former Caesar's CEO and Aetna division president, in the latest round.

Eyenovia Inc., of New York, said it closed its underwritten public offering of 4.38 million shares of common stock at $2.78 each for net proceeds of approximately $11.2 million. 

Trefoil Therapeutics Inc.'s $28 million from an oversubscribed series A financing will let the company finish a phase IIa proof-of-concept study as researchers edge toward attacking corneal endothelial dystrophy, including Fuchs dystrophy, a disease that leads to the deterioration of the endothelial layer on the back surface of the cornea.

LONDON – AM-Pharma BV has raised €116 million (US$130.7 million) in a series E round to fund phase III development of its recombinant alkaline phosphatase, Recap, in the treatment of sepsis-associated acute kidney injury (SA-AKI).