UK life sciences sector leaders are pleased to have attracted Flagship Pioneering to invest in the country, as its CEO Noubar Afeyan emphasizes that its initial focus would be on early ‘experiments’ in innovation and cultural bridge-building.

Restructuring Edition: OrbiMed/Foresite and Concentra responded quickly after Theseus implemented a 72% workforce reduction and began a search for strategic alternatives despite having $225.4m in cash. REGENXBIO, Novavax and Lyell also revealed job cuts despite large cash stockpiles.

Quotient Therapeutics is the fifth new start-up unveiled by Flagship this year, and will be co-located in the US and UK to tap into leading academic genomic expertise.

Public Company Edition: PTC sold more of its Evrysdi royalties to Royalty Pharma for $1bn. Abivax gained $235.8m in an IPO and concurrent private placement, while Cerevel grossed $450m and Nuvalent and Ultragenyx raised $300m each in follow-on offerings, but Freeline is reviewing strategic options.