The total cost of Zolgensma is more than $2m – in line with estimates – or $425,000 annually for five years if payers choose an annuity-like payment plan. Novartis is also negotiating value-based reimbursement agreements for infants treated with the one-time infusion.

An Alliance for Regenerative Medicine (ARM) report shows big Q1 numbers for venture capital and partnership deals. Also, mid-May VC deals surge globally across therapeutic areas, Biogen pushes back against a bargain-hunting investor and recent public company financings.

ElevateBio revealed the first company to hitch up with its newly established centralized cell and gene therapy development, manufacturing and commercial capabilities – AlloVir, formerly ViraCyte, which is developing T-cell therapies to treat viruses in immunocompromised patients.

Investors in Peloton, which has the only clinical-stage HIF-2α inhibitor, will get back 3.5 times the $304m in venture capital invested in the firm via the $1.1bn that Merck is paying up front. With all $1.15bn in additional milestone fees, the return could grow to 7.2x.

The company reported positive Phase II results and will move its potential fourth-to-market IL-23 inhibitor into Phase III in Crohn's disease later this year. Mirikizumab – in Phase III for psoriasis and ulcerative colitis – may be the second IL-23 drug for an IBD indication.

The start-up run by ex-Lumena leadership is testing REN001 for rare genetic mitochondrial diseases with two Phase Ib trials under way and plans to start a third later this year.