Newron’s evenamide worked in a Phase II/III trial as an add-on to antipsychotic drugs in patients with inadequate response to monotherapy at a time when schizophrenia has piqued the interest of big pharma.

Cerevel, which AbbVie is spending $8.7bn to acquire, unveiled topline results from the TEMPO-3 study of tavapadon, which an analyst said represents potentially a $1bn opportunity.

With half of its 2023 sales coming from aging blockbusters like Humira and Botox, AbbVie needs new blood.

Private Company Edition: Capstan and Engrail raised $175m and $157m, respectively, in series B venture capital rounds in addition to Madrigal’s $400m-plus launch and Clasp’s $150m series A.