Lilly looks To Elektrofi for help on subcutaneous injectable therapies, while NAYA will merge with INVO and acquire two antibodies from Cytovia. Plus deals involving Hummingbird/Endeavor, Basilea/Gravitas/Intron, Lilly/Mablink and Sotio/Synaffix.

The difficult investment environment has made it harder to build newcos, but panelists at the Galien Forum talked about how that might help limit some of the me-too companies that proliferate when financing is easier.

The Phase II trial was not powered to show statistical significance on cognitive efficacy, but early Alzheimer’s patients treated with Araclon/Grifols’ anti-Aβ40 vaccine had slower decline by some measures.

Private Company Edition: Quarter-over-quarter increases in venture capital have been bolstered by fewer but larger rounds, like the recent $245m series A for Aiolos. Also, OrbiMed raised $4.3bn across three new VC funds, Rampart completed an $85m series A and Atom Bioscience raised an $83m series D.