Pharma’s latest partnerships focus on Duchenne muscular dystrophy with Precision Biosciences, protein degradation with Seed. Bristol and Schrodinger team in computational drug discovery.

Olema launched this year’s 75^th US biopharma IPO. Also, investments in regenerative medicines reached a new high, Qiming closed a $1.2bn China-focused VC fund, D3 Bio led recent venture deals with a $200m round, and Bausch sold $2bn worth of notes to pay down near-term debts.

The average return for companies that went public in the US through the end of September was 49.4% as of 5 October. The fourth quarter started with three additional initial public offerings on 1 October.

Also, Osmotica licenses rights to ophthalmic drug in Japan, China and the EMEA nations to Santen; Lilly and Chi-Med revise their partnership around colorectal cancer drug Elunate.