Mid-sized M&A, collaborations, creative financing, and biotech consolidation will feature in 2023. IPOs and follow-ons play bit-parts.

The deal focuses on the HER2-targeting bispecific antibody zanidatamab, in development for multiple solid tumor indications expressing HER2.

Mereo will reduce its headcount by 40% to focus on its lead programs while NeuBase revealed a 60% workforce reduction to extend its cash runway. Also, Invivyd (formerly Adagio), Greenlight and BioMarin announced job cuts, while Otonomy and others planned strategic shifts. 

Having divested non-medical imaging a year ago, Olympus Corp is putting its foot to the floor in refocusing on its medical portfolio. It has set global ambitions of strengthening its coverage of unmet needs and of playing a major role in reshaping health care delivery.