Seven Bridges Acquired by Summa Equity
Bowen Serves as 2x Financial Advisor to Seven Bridges
BOSTON, January 19, 2023 – Bowen is pleased to announce that Seven Bridges, a leader in genomic bioinformatics, has been acquired by Summa Equity, a private equity firm based in Stockholm, Sweden. Summa Equity is merging Seven Bridges with genomic technology companies Pierian and UgenTec to create Velsera. Leveraging Seven Bridges’ unique capabilities, Velsera promises to accelerate the field of precision medicine, which has long been limited by inadequate research tools and siloed datasets. Bowen acted as the exclusive M&A advisor to Seven Bridges.
Bowen’s advisory work with Seven Bridges spanned multiple objectives and transactions. In 2021, Bowen closed a $20M Series C for the Company, bringing in two US-based strategic investors, to accelerate the Company’s sophisticated technology and advance its go-to-market strategy. Subsequent to closing the round, Bob Fleming, Managing Director and Head of Bowen’s Healthcare Tech practice, joined the Board of Directors. Bowen then advised on the spin out of the Unified Patient Network, which links patient genome data to pharmaceutical companies to inform drug development.
“Bowen’s deep sector knowledge in healthcare and life sciences is underpinned by our expertise as former VCs and operators. Combined with our strategic approach and cross-border experience, Bowen was uniquely positioned to deliver a terrific outcome for all stakeholders,” said Bob Fleming. “Bowen operates as a true partner and thoroughly understands both the buyer’s and seller’s perspective, allowing us to effectively sell growth technology companies at premium values.”