Lynx Financial
Lynx Financial
Track record

From first introduction to outcome.

Two engagements shown in full, the exits that followed our advisory and investment, and milestones across the companies we work with.

ICase studies

Two engagements, shown in full.

How two European innovators found partners and capital in China, and what followed.

Aurealis Therapeutics
Biotech
Finland & Switzerland

A gene-engineered live biotherapeutics platform. Its lead product treats hard-to-heal diabetic foot ulcers.

$139M
Greater China licensing deal with Xbiome
  1. Jul 2020

    Engaged Lynx Financial to find strategic investors in China.

  2. May 2021

    Completed Phase 1.

  3. Jan 2022

    Signed an exclusive Greater China licence with Xbiome, worth up to $139M in total. Lynx was exclusive financial advisor.

  4. Mar 2023

    Closed an oversubscribed $10M Series A co-led by Lynx Financial and TESI, with Huahai Pharmaceutical participating. Phase 2 began in Europe that May.

  5. Nov 2024

    Raised an $8M Series A+ to expand its oncology pipeline.

  6. Dec 2025

    Completed Phase 2. A $35M Series B in China is under way, with a term sheet signed.

Mobidiag
Diagnostics
Finland & France

A high-throughput point-of-care molecular diagnostics platform, first applied to gastrointestinal infections and at early commercial stage in Europe.

~$800M
Acquisition by Hologic
  1. May 2018

    Engaged Lynx Financial to find strategic investors in China.

  2. Sep 2018

    Completed due diligence and ran a competitive process with several interested parties.

  3. Dec 2018

    Agreed a partnership with Autobio for China rights: €10M equity in the Finnish parent, a €4.3M China licence fee and an €8M China joint venture. Lynx co-invested.

  4. Jan 2019

    The European Investment Bank joined on improved terms, at a €118M post-money valuation.

  5. Apr 2021

    Acquired by Hologic for about €668M (~$800M).

IIExits

What came after the deal.

Exits
8
Trade sales
2
Nasdaq listings
6
  • 2018
    Aridis Pharmaceuticals
    Aridis Pharmaceuticals
    Infectious disease · US

    Two Chinese listed pharmaceutical companies made $16M of strategic investment, alongside a China joint venture.

    Nasdaq listing
    IPO on Nasdaq
  • 2018
    Bonti
    Bonti
    Medical aesthetics · US

    A Chinese listed medical aesthetics company invested $5M as a strategic partner.

    Acquisition
    Acquired by Allergan for $195M upfront
  • 2019
    X4 Pharmaceuticals
    X4 Pharmaceuticals
    Immuno-oncology · US

    Out-licensed its Greater China rights to Abbisko Therapeutics.

    Nasdaq listing
    Listed on Nasdaq
  • 2019
    Exicure
    Exicure
    Nucleic acid medicines · US

    Two Chinese listed pharmaceutical companies invested $7M, and Exicure signed a deal with Luye Biopharma.

    Nasdaq listing
    Listed on Nasdaq
  • 2020
    Reviva Pharmaceuticals
    Reviva Pharmaceuticals
    Neuropsychiatry · US

    Advised on China partnering for its antipsychotic programme.

    Nasdaq listing
    Listed on Nasdaq
  • 2021
    Mobidiag
    Mobidiag
    Molecular diagnostics · Finland

    Partnership with Autobio: €10M equity, a €4.3M China licence and an €8M China joint venture. Lynx co-invested.

    Acquisition
    Acquired by Hologic for ~$800M
  • 2021
    Compass Therapeutics
    Compass Therapeutics
    Oncology antibodies · US

    Advised on finding a Chinese syndicate member for its reverse merger and financing.

    Nasdaq listing
    Listed on Nasdaq
  • 2023
    3-V Biosciences
    3-V Biosciences
    Fibrosis and metabolic disease · US

    Licensed its core asset to a Chinese pharmaceutical company.

    Nasdaq listing
    IPO on Nasdaq as Sagimet Biosciences
IIIMilestones

Across the portfolio.

Licensing deals, financings and approvals at companies we have invested in or advised.

  • Aug 2025
    Marginum
    Kuopio, Finland

    Raises €2.5M Pre-Series A to expand HIVEN® into Europe and pursue US FDA clearance. Lynx Financial joins as a new investor.

  • Mar 2023
    Calcivis
    Edinburgh, UK

    Receives US FDA pre-market approval for the Calcivis Imaging System, the first Scottish medical device to do so.

  • Dec 2021
    AFFiRiS
    Vienna, Austria

    Licenses AFFITOPE® AT04, a PCSK9 immunotherapy for hypercholesterolaemia, to Frontier Biotechnologies for Greater China.

  • Nov 2019
    Exicure
    Chicago / Cambridge, MA

    Signs a collaboration, option and licence agreement with Allergan on SNA-based treatments for hair loss.

  • Sep 2019
    Aridis Pharmaceuticals
    San Jose, CA

    Licenses exclusive rights to its MabIgX® platform to the Serum Institute of India.

  • Sep 2019
    Calcivis
    Edinburgh, UK

    Completes a £4.5M financing ahead of anticipated US PMA approval.

  • Jun 2019
    Mobidiag
    Espoo / Zhengzhou

    Launches Automobi Molecular Diagnostics in China.

  • May 2019
    Novuson Surgical
    Bothell, WA

    Secures funding from HOYA Corporation to complete development of the UltraStat 3mm vessel sealer.