The FDA placed a partial hold on the VELA study of BLU-222 due to some patients experiencing visual toxicity, but the company anticipates reporting data and said it is near identifying Phase II dose.

Public Company Edition: MAIA launches a $10m initial public offering, the first in the US since May, but NewAmsterdam opts for the SPAC route to the stock market. Also, Legend raises $350m in a follow-on offering, Iveric obtains access to $250m in debt and Otonomy cuts costs after a Phase II failure.

Venture capital funding for biotechs remains aplenty even as listed companies’ stock prices drop. Biogen’s Papadopoulos, Fidelity’s Kaul and Gurnet’s and ex-Sanofi Viehbacher deliberate on whether there is a valuation disconnect and if this is the next "tulip mania."

Private Company Edition: Omega Funds closed its seventh venture capital fund, far exceeding its $500m goal. Also, Anaveon raised a CHF110m ($119.8m) series B round, Ambys brought its series A total to $107m with $47m in additional investment and Mythic launched with a $103m series B round.