Third-quarter biopharma financing, which totaled $12.5 billion, was dominated by follow-on public offerings, which represented virtually half the value. Acquisition activity was headlined by a major move by Gilead in the CART market. Five alliances were signed worth over $1 billion, led by a partnership between two key players, Merck & Co. and AstraZeneca.

Complexa topped the list of recent venture capital financings with a $62m Series C round, followed by Evelo and Kezar with $50m Series B rounds and LogicBio with a $45m Series B.