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.

The recent ASH meeting began with US FDA approvals of the first genetic medicines for sickle cell disease, but doctors and biopharma companies still see a need for new oral therapies and other options. 

Chief development officer William Pao will depart the company in a sudden transition after being recruited from Roche. Pfizer insiders Chris Boshoff and Mikael Dolsten will fill the roles.

The company has significantly built up its pipeline since divesting its oncology business to Servier, with multiple Phase III readouts for Pyrukynd expected in 2024-2025.