Hua, already considering an IPO in Hong Kong for up to $400m, closed concurrent VC rounds that will fund its late-stage diabetes program in China, but it may still need to go public to enter other markets. Also, Heron raised cash for its next commercial product, among other public company financings.

Cambridge, UK-based Healx has concluded a $56m series B round, led by Atomico, to put up to 50 potential rare disease treatments into the clinic within two years using its AI/ML platform.

Tapping into the ability of arenaviruses to deliver prolonged local immune activation, rapid regression of localized and metastatic cancers, and long-term disease control, Essen, Germany-based start-up Abalos Therapeutics has raised €12m to advance its lead candidates towards clinical testing.