Good day. Lux Capital, which invests in sectors including life sciences and artificial intelligence, has raised $1.5 billion for its latest venture fund.

Lux’s new vehicle, Lux Ventures IX, tops the $1.15 billion raised for the firm's last fund in 2023. The firm, founded in 2000, says it can deploy as little as $100,000 or as much as more than $100 million over the course of a company’s lifecycle, said Peter Hébert, co-founder and partner of New York- and Menlo Park, Calif.-based Lux.

One theme for Lux is applying artificial intelligence to the physical world. AI has largely been applied to the digital realm, but most of the world’s gross domestic product is tied to the physical one, said Hébert. Lux, for example, is an investor in Mendaera, which uses AI and robotics to improve the precision of needle-based procedures that are guided by ultrasound.

AI can be combined with robotics and other physical tools to create breakthroughs across sectors, according to Hébert.

“We think it’s underappreciated by the market,” Hebert said. “We see that as one of the largest opportunities over the next five to 10 years.”

And now on to the news...

Startup wants to bring cancer patients care at home. Luminate Medical has raised $21 million in new venture financing from 8VC, Artis Ventures and others to deliver chemotherapy and other cancer-drug infusions in the home—a service that could ease burdens on patients, but one that isn’t typically offered today.

• Luminate is negotiating contracts with a dozen U.S. oncology clinics and health systems to provide infusion services, but hasn’t started treating patients yet, said co-founder and Chief Executive Aaron Hannon.
   
• In addition, Luminate is developing medical devices to deliver cancer medications as well as curb their daunting side effects. The company and its backers see an opportunity to create a business that improves cancer treatment, lowers its cost and is difficult to copy.

Eir Partners Capital, a Miami private-equity firm that invests in healthcare technology and tech-enabled services, closed its third fund at more than double the size of its predecessor. Eir Partners III reached its final close with $1 billion in commitments following a three-month fundraising process, the firm said Thursday. The sum exceeded the fund’s $800 million target as well as the $496 million gathered by its 2024 predecessor.

• Recent Eir Partners investments include AgentAI, a revenue-cycle-management technology provider, and PharmaForceIQ, a marketing-technology company for the life-sciences industry.

People

Nuevocor, a startup developing novel therapies for patients suffering from life-threatening cardiomyopathies, appointed Al Gianchetti as chief executive officer. He was previously president and CEO of XyloCor Therapeutics.

Syncromune, a biopharmaceutical startup focusing on metastatic solid tumor cancers, appointed Stephen P. Dale as chief medical officer. He was previously CMO and head of R&D at Kura Oncology.

SpyGlass Pharma, a startup focusing on treating patients living with chronic eye conditions, appointed Jean-Frédéric Viret as chief financial officer. He most recently served as CFO at NGM Biopharmaceuticals and Blade Therapeutics.

Obesity care-focused Kailera Therapeutics appointed Doug Pagán as chief financial officer. He was previously CFO and chief operating officer of Atalanta Therapeutics.

Suki, a provider of AI technology for healthcare, named Abhi Pathak as chief product officer. He previously held the same position at Accolade.

Exits

Amgen acquired Dark Blue Therapeutics, a U.K.-based biotechnology startup advancing small molecule-targeted protein degraders for oncology, in a transaction valued at up to $840 million.

Soley Therapeutics, a South San Francisco, Calif.-based startup developing novel drug candidates using its cell stress sensing platform, scored $200 million in Series C funding from investors including Surveyor Capital, HRTG Partners, RWN Management and Breyer Capital.

Rakuten Medical, a developer of cancer treatments partly owned by Japan's Rakuten Group, closed a $100 million investment led by TaiAx Life Science Fund. The Series F round consists of $70 million in new capital and the conversion of $30 million in convertible promissory notes with accrued interest. Additional investors in the round included Taiwanese venture firms Abies Capital and Nexus CVC.

Corsera Health, a Boston-headquartered cardiovascular disease prediction and prevention startup, raised $80 million in Series A funding co-led by Forbion and Population Health Partners. Marco Boorsma, general partner at Forbion, joined the company’s board.

Mediar Therapeutics, a Boston-based startup developing therapies designed to halt fibrosis, landed $76 million in Series B funding from investors including Amplitude Ventures. Bharat Srinivasa from Amplitude will join the board.

Vizgen, a Waltham, Mass.-based spatial biology startup, completed a $48 million late-stage round of financing from investors including ARCH Venture Partners, M Ventures and Northpond Ventures.

Nocion Therapeutics, a biopharmaceutical startup, added $23 million in Series B funding to support the development of its chronic cough treatment candidate. The latest tranche brings the round total to $93 million and was led by Arkin Bio Capital and Monograph Capital.

Prudentia Sciences, a Cambridge, Mass.-based startup providing AI-native due diligence for life sciences dealmaking, secured $20 million in Series A financing. McKesson Ventures led the investment, which included participation from SignalFire.

Oasys Health, a New York-based developer of an AI-native operating system for behavioral health, has secured $4.6 million in funding, including a $4 million seed round led by Pathlight Ventures.

• Revolution Medicines Draws Takeover Interest
   
• Eli Lilly Nears Deal for Biotech Ventyx
   
• Here’s What the New Federal Dietary Guidelines Mean for Your Meals
   
• Big Pharma Has More Going for It Than Obesity Drugs
   
• CDC Pares List of Recommended Childhood Vaccines
   
• Janine O’Leary Cobb, Who Educated the Public About Menopause, Dies at 92

• Chaos is a ladder: predictions for 2026 (Life Sci VC)
   
• OpenAI adds ChatGPT Health for medical questions (Axios)
   
• Tests for autism? Companies are selling them, but research is still scant (New York Times)
   
• Panel behind new dietary guidelines had financial ties to beef, dairy industries (STAT)

This newsletter was compiled by Matthew Strozier, Zachary Cole and Brian Gormley. 

WSJ Pro Venture Capital is a premium service of The Wall Street Journal. We cover venture capital and the global startup ecosystem. Share your tips, comments and questions: vcnews@wsj.com

The Team: Matthew Strozier, Yuliya Chernova, and Brian Gormley.

Join us on LinkedIn.