Also deals involving WuXi/Medigene, Eisai/Seed, Genor/Two River/Third Rock Ventures, ImmuneOnco/Instil, Biocytogen/Ideaya, Takeda/Dr Reddy’s/Zydus/Mankind and deals in brief.

Private Company Edition: Symbiotic Capital emerged with a $600m-plus fund to provide credit for private and public companies, while venBio raised a $528m fund. Also, Outpace Bio raised $144m, Jade Biosciences launched with $80m and MBX Biosciences raised $63.5m.

Public Company Edition: Insmed grossed $650m, Structure raised $476m and Merus brought in $400.2m after positive clinical trial results. But while CARGO raised $110m in a private placement and Day One sold a priority review voucher for $108m, Ikena, Takeda and others cut jobs.

Having raised $345m in an IPO last year, prior to entering the clinic, Apogee Therapeutics has emerged as a startup to watch. Chief medical officer Carl Dambkowski, one of In Vivo’s 2024 Rising Leaders, shares more about the biotech’s pipeline strategy.