Cash-strapped Nanobiotix has received a major boost with the news that J&J unit Janssen is paying $60m in upfront fees and R&D funding to license NBTXR3, which has the potential to enhance the efficacy of radiotherapy in multiple tumor types including head and neck cancer.

Public Company Edition: Valuations have fallen enough in 2022 to lead some companies to wind down operations, but a recent uptick opened a window for a few offerings. Chinook raised $105m in a follow-on offering, while Flagship led a $79.2m registered direct offering for Evelo.

Following two record-breaking years for biotech fundraising, stock valuations are heading downwards. Biopharma executives and industry experts surveyed by Scrip anticipate big pharma executing more deals and acquisitions in 2022.

Billed as BridgeBio in China, US-based and China-oriented biotech LianBio breaks a long hiatus in US listing for Chinese biotechs.