The psychedelics sector has been hit hard by lack of funding options of late but the prospects for Eleusis, which had to terminate a SPAC merger in the summer, look brighter with its acquisition by Beckley Psytech.

One of the best-attended sessions at the BIO meeting in San Diego saw psychedelics specialists weighing up the sector's chances of breaking taboos and getting to market.

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.

The Danish diabetes titan teams with Moderna’s founder on cardiometabolic R&D. Troubled cell therapy biotech Bone Therapeutics negotiates reverse merger with Medsenic.