Bristol aims to bring more drugs into the clinic as fast as possible without compromising on quality, with many novel molecules emerging from its productive protein degradation and cell therapy platforms.

Private Company Edition: Genesis raised $200m, Rapport brought in $150m and Cellares closed a $255m round. Also, Ferring got $300m up front in a royalty deal, Fore Biotherapeutics raised a $75m series D and Vaxxas won a $3.67m Wellcome grant to advance a next-generation typhoid vaccine.

Pink Sheet analysis finds big jump in the share of novel approvals that received PDUFA extensions, largely driven by clinical and safety data submissions.

Boehringer Ingelheim is enjoying the financial benefits that have come from the strong growth of Jardiance and has upped its R&D spend to advance promising cancer and fibrosis assets.