Glenmark’s innovation subsidiary, Ichnos, highlights encouraging early data for lead bispecific antibody assets and hopes to accelerate these via licensing and partnership deals.The US-based arm also points to the tough biopharma financing market where investors are no longer satisfied with just the “preclinical story”.

Also, Cytovia will go public via SPAC merger, Nkarta capitalized on its positive early NK cell therapy data with a $230m offering, and venture capital mega-rounds include $220m for Reify, $110m for Satellite Bio and $100m for OMass Therapeutics. 

With its new fund for companies emerging from Foresite Labs, Foresite Capital has raised more than $1bn in new venture capital during the past year to back life science and health care innovation.

Glenmark’s US-based innovation arm Ichnos delivers first licensing deal for IL-1RAP antagonist, while early data for a bispecific antibody demonstates promising activity in multiple in vitro and in vivo tumor models relative to daratumumab and magrolimab.