Private Company Edition: With its lead program in the clinic, Frontier’s $80m series C round will fund trials for additional programs. Also, ORI raises $260m for second fund, Earlybird closed a €173m ($187.1m) fund, Areteia’s series A grew to $425m and Sudo’s series B increased to $147m.

CEO Allan Bradley tells Scrip that “we're at the very beginning of what I believe will be an explosion of TCR-based therapeutics” and his start-up hopes to take a leading position.

Sanofi is looking to build its position in immunology, with a new anti-inflammatory candidate, amlitelimab, which could potentially help patients who do not respond to its blockbuster Dupixent.

Sanofi is taking full control of the recently approved type 1 diabetes prevention therapy Tzield by splashing out $2.9bn to acquire partner Provention.