Private Company Edition: J.P. Morgan raised more than $500m in its first venture fund and the Africa Health Security Investment Plan gained $2bn. Also, Marea launched with $190m, Iambic’s series B expanded to $150m, InduPro raised an $85m series A and Elion closed an $81m series B.

Rapport Therapeutics launched an initial public offering in the middle of a proposed price range, and the CNS-focused company closed slightly above its IPO price on its first day of trading.

Public Company Edition: Verona Pharma arranged up to $400m in new debt and up to $250m in revenue-related financing ahead of its COPD drug launch. Also, Organon, Sobi and Pacira priced $1bn, $275.1m and $250m note sales, respectively. Marinus, Emergent and Ginkgo cut jobs.

BridgeBio will narrow its focus to rare diseases and the November action date for acoramidis, while subsidiary TheRas will become BridgeBio Oncology Therapeutics, focused on KRAS-targeted drugs.