On the first day of the BIO International Convention, our reporters hear from industry leaders about tough financing, when to go public, and why ‘there shouldn't be 700 listed biotechs in the US.’

On the first day of the BIO International Convention, our reporters hear from industry leaders about tough financing, when to go public, and why ‘there shouldn't be 700 listed biotechs in the US.’

Public Company Edition: Bausch remains the majority shareholder, but B+L is a separate operating company. Also, Rezolute raises $130m in dual financings and BridgeBio outlines job cuts and will out-license assets to conserve cash.

Cadila Healthcare has entered the immuno-oncology race by inking a licensing agreement with US-based XOMA for a drug candidate that combines the Indian firm's interleukin-2 with the latter’s novel anti-IL-2 monoclonal antibody