Private Company Edition: Lilly will open a third accelerator, this time in San Diego, and Fosun partnered with Treehill to help later-stage firms get over the finish line. Also, Flagship – after recent UK investments – signals its next fund will total $3bn. ArrivoBio and Alto Neuroscience raised $45m each.

Roivant and Pfizer launched Priovant to develop the oral drug brepocitinib for dermatomyositis, lupus and other autoimmune diseases, but Roivant also cut programs to extend its cash runway.

The market for new company creation in the biopharma sector remains healthy and poised to continue fostering the establishment of start-ups, based on a new In Vivo study of the strong initial investments that pharma and biotech companies receive.

Private Company Edition: The pre-J.P. Morgan Healthcare Conference financing news deluge during the first week of 2021 included several significant venture capital deals, including a $226m series B round for Affinivax, Ikena’s $120m series B round and an $88m series A round for Aro.