🛡️ Defense Index Rises 34%. $220M+ VC Funding.
Impact Capital Markets #104 looks at our Defense Stock Index, major impact deals, M&A, and upcoming economic releases.
📈 Today's Global Economic Update: Germany's annual inflation rate increased to 2.4% in May 2024 from 2.2% in the previous two months, driven by rising service and food prices. Despite falling energy prices, core inflation remained steady at 3%, indicating persistent underlying inflation pressures.
👩⚕️ Deal of the Day: Natural Cycles, a Swedish healthcare app, raised a $55.2M Series C to improve access to hormone-free birth control.
What's New?
🛡️ Defense. Defense index rises 34%
💰 Funding. Healthcare, energy, biotech + more
💼 M&A. Healthcare services and biopharmaceuticals
📅 Economics. Euro area inflation, GDP, balance of trade + more
🛡️ Defense Index Rises 34%
HolonIQ’s Defense Index has risen 34% year-over-year, with a steady upward trend since last October despite minor fluctuations. Technological advancements, rising defense budgets, and evolving global threats have mainly driven this increase.
Heightened geopolitical tensions among major global powers are catalyzing an accelerated pace of investment in defense capabilities by nations worldwide.This trend is evident as major players in the industry, like General Dynamics Corp and Airbus SE, have witnessed impressive stock price gains of 44% and 29% respectively over the past year, signaling investor confidence. Technological advancements are also playing a crucial role. The defense industry is adopting next-generation counter-drone systems, electrifying military vehicles, and ramping up investments in AI. While growth opportunities exist, the defense sector faces supply chain challenges. Global complexities, like labor shortages and material scarcity, are causing delays and cost increases, affecting defense operations and modernization plans. Addressing these challenges, alongside the escalating depletion of weapons stock, is expected to fuel substantial growth in the defense industry, driven by the demand for new and advanced technologies in the coming years.
💰 Funding
👩⚕️ Natural Cycles, a Swedish healthcare app, raised a $55.2M Series C from Lauxera Capital Partners to improve access to hormone-free birth control.
🏭 One Energy, an industrial energy company, raised a $35M Series A to cover its working capital.
🧪 Gameto, a New York-based biotech company, raised a $33M Series B from Two Sigma Ventures and RA Capital to support the clinical development of their women's health treatments.
🏠 TraceAir, a Washington-based site intelligence software provider for homebuilders and developers, raised a $25M Series B from PeakSpan Capital to launch new products.
👩💼 Maven AGI, a Massachusetts-based customer support startup, raised a $20M Series A from M13 to advance development efforts.
🦠 Adcendo, a Denmark-based biotech company, raised a $17.4M Series A from Dawn Biopharma to enhance its pipeline for its antibody-drug conjugates.
💼 M&A
💊 Virtual Therapeutics, a Washington-based biotech company, signed a definitive agreement to merge with Akili Interactive, a Massachusetts-based company that provides healthcare treatment.
🧫 GTCR, an Illinois-based private equity firm, signed a definitive agreement to acquire Surmodics, an Alabama-based biotech company.
🧬 Merck, a New Jersey-based biopharmaceutical company, signed a definitive agreement to acquire Eyebiotech for $1.3B, a New York-based biotech company.
📅 Economic Calendar
Euro Area Inflation, GDP, Balance of Trade + More
Friday, May 31st 2024
🇫🇷 France Inflation Data Preliminary, May
🇪🇦 Euro Area Inflation Data (Flash), May
🇮🇹 Italy Inflation Data Preliminary, May
🇮🇳 India GDP Growth Data, Q1
🇨🇦 Canada GDP Growth Data, Q1
🇺🇸 US Core PCE Price Index, April
🇺🇸 US Personal Income & Spending, April
Monday, June 3rd 2024
🇺🇸 US ISM Manufacturing PMI, May
Tuesday, June 4th 2024
🇺🇸 US JOLTs Job Openings, April
🇦🇺 Australia GDP Growth Data, Q1
Wednesday, June 5th 2024
🇨🇦 Canada BoC Interest Rate Decision
🇺🇸 US ISM Services PMI, May
🇦🇺 Australia Balance of Trade Data, April
Thursday, June 6th 2024
🇪🇦 Euro Area Deposit Facility Data
🇪🇦 Euro Area ECB Interest Rate Decision
🇪🇦 Euro Area ECB Press Conference
🇨🇦 Canada Ivey PMI s.a, May
🇨🇳 China Balance of Trade Data, May
Friday, June 7th 2024
🇩🇪 Germany Balance of Trade Data, April
🇨🇦 Canada Balance of Trade Data, April
🇨🇦 Canada Employment Data, May
🇺🇸 US Employment Data, May
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