The firms’ partnership goes back to pre-merger Celgene, and BMS still has Dragonfly candidates in its pipeline. Ji Xing gets hypertension candidate from Phase Bio.

Private Company Edition: Venture capital mega-rounds continue a brisk pace with machine learning-based drug discovery firm insitro and gene therapy developer Graphite Bio among recent $100m-plus deals. Also, Argobio raised €50m to fund five start-ups in Europe. 

Zydus Cadila is to begin testing a three-dose recombinant DNA vaccine candidate in Phase III Indian trials, which might enter late-stage development ahead of Inovio and AnGes. The company promised to provide 100-150 million doses by end of 2021 at the J.P. Morgan Conference, though adherence could be a roadblock.

Merck & Co’s chief executive shares views on the need for “reasonable” returns on COVID-19 therapeutics and vaccines, and on the future US pricing environment, at the USAIC summit.