Private Company Edition: The start-up intends to take multiple drug candidates into the clinic by 2021. Also, Graybug Vision raises an $80m series B and Finch closes a $53m series C.

Bayer is relinquishing its Animal Health Unit to Elanco as the German major turns its focus more towards life sciences. The money received should help it pay down some Monsanto debt, but there are antitrust concerns.

Investors in Impact Biosciences, which sold the selective JAK2 inhibitor to Celgene for $1.1bn up front, could double their money with milestone fees based on fedratinib's approval.

A review of second quarter biopharma start-up deal-making and financing activity from Strategic Transactions showed a quarter-over-quarter drop in dollars raised despite multiple mega-rounds, including $100m-plus VC deals for SpringWorks and Fusion.

While deal-making in the Asian pharma space shows no signs of slowing down, the past few months have been marked by a series of high-profile cases involving the return of rights by licensees or setbacks in clinical trials. Scrip's regional team looks at some of the factors at work.

If Landos goes public late next year, its financing strategy will align with venture capital and IPO trends observed in a new Jefferies report. Also, D&D Pharmatech raises $137.1m in VC cash, Sonnet secures up to $100m and the CF Foundation commits up to $15m to Arcturus.

Evotec upped its full-year guidance after a strong second quarter that saw an important strategic expansion into the biologics space through the acquisition of Just Biotherapeutics Inc.

The Dutch rare disease group says licensing CDZ173 from Novartis is Pharming’s first step towards building off the commercial success of its sole product, Ruconest, in HAE.