Also, CRO Syneos Health appointed an executive to its newly created DE&I position, while Alterity started a new Phase II study in multiple system atrophy, Antabio dosed the first patients in its Phase I study of an antibiotic for hospital infections, and Structure Therapeutics started a Phase IIa trial of its GLP-1 agonist in obesity and diabetes, with plans for a Phase IIb trial in 2024.

Already owner of about 60% of the troubled antibiotic firm, Innoviva agrees to pay $2.20 per share for all outstanding stock in Entasis. Roche, KaliVir partner on oncolytic virus therapies.

Antibiotics specialist Antabio aims to get enough funding to advance its pipeline far enough to become a takeover target.     

With biopharma venture capital investment of $9.67bn during the first half, 2018's total is on track to beat 2017 in the third quarter. IPOs, one of the factors fueling VC investment, continue to boom with five more drug developers slated to go public this week.