AstraZeneca’s bid to expand its respiratory biologic Fasenra from asthma into the chronic obstructive pulmonary disease space has been hurt by a Phase III failure but the company is holding its horses until the results of another large late-stage trial come in before the end of this quarter.

AstraZeneca's novel targeted anticancer selumetinib has missed its endpoints in a Phase III study in lung cancer, the second late-stage failure for the product, which last year disappointed in uveal melanoma.

In the latest instalment of VC Playbook, In Vivo gets to know Arix Bioscience, a relatively young venture capital firm that went public in 2016. Arix has “has many similarities yet some key differences from a typical venture capital firm,” says the management team.