Tempest goes public via a reverse merger with Millendo. Takeda inks its ninth deal of 2021, a discovery pact with BridGene around its chemoproteomics technology.

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.