Deal Watch: Merck's Busy Stretch Includes Collaborations With Dewpoint, Zymeworks
Bristol makes its own deal with Celgene ally Dragonfly, while Gilead ends virology partnerships with Durect and Precision BioSciences.
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Private Company Edition: XtalPi raised $318.8m for its AI-based drug discovery platform and machine learning-enabled Flagship start-up Valo Health has brought in nearly $100m. XtalPi had one of three recent venture capital mega-rounds for China-based companies.
The new collaboration announced 17 August is worth up to $475m in near-term upfront payments plus undisclosed milestone fees and royalties up to 24%.
Relay raises $400m to kick off July’s second big week of US initial public offerings. Also, Ocumension and Immunotech launch Hong Kong IPOs, Amgen invests $421m in BeiGene’s $2.08bn offering, Cytokinetics gets up to $400m in deal and investment funding, and Imvax closes $111m series C round.