A mix of mega-rounds and smaller seed financings show investment happening at both ends of the venture capital spectrum. In public company financings, Gilead prices $2bn note offering, Biogen secures $1.5bn for Reata deal, Inhibrx completes a $200m PIPE and the IPO market shows new signs of life.

The UK firm has got the green light in the US to conduct two Phase IIb/III trials of its cancer cachexia candidate S-pindolol but a lot more money needs to be raised to complete them.

Commission pursued merger challenge to halt pharma practices it believes can stifle competition and keep drug prices high. Other large biopharma transactions may face similar challenges as FTC pursues its new merger program.

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.