Private Company Edition: June’s eight $100m-plus venture capital rounds already outpace the seven each raised in March, April and May, including €255m ($274.2m) for ITM and $200m for Upstream, but while there were five $25m or less VC financings during the past week, mid-sized deals were lacking.

Recent financings, including the $150m launch of Pathalys and a planned $100m IPO for Mineralys, illustrate the reality of biopharma funding in 2023 – that having near-term clinical trial milestones are key to fundraising this year. Companies with dwindling cash are conserving the funds they have left.

Building a narrow set of products and services that provide reliable and consistent revenue is a perfectly sound business strategy and one that sustains many biotech companies. But for the hungrier, like Twist Bioscience, Inc., a strategy of ongoing disruption and evolution has been more appealing and indeed is generating significant growth. Emily Leproust, Twist’s CEO, spoke with In Vivo about what it means to follow a value-added business strategy.

French biotech brings candidate for Gaucher and Parkinson’s disease in-house under 2020 pact with Weizmann. Cellevolve, Seattle Children’s partner on cell therapies for CNS cancers.