Last year was transformational for the Belgian biotech Ablynx. Not only did it sign the biggest product licensing deal of 2013 with AbbVie, it also further expanded its relationship with Merck Serono through a fourth collaboration; its first venture investors Gimv and Sofinnova Partners exited the company; and the firm took its first foray into the emerging markets via a $2m deal with China's Eddingpharm.

The recent outpouring of soul searching, introspection and discussion prompted by the parting editorial from Greg Smith, a now ex-Goldman Sachs investment banker, has had little linkage to the biotechnology sector. [Smith proposed in his resignation letter that career progression at Goldman Sachs is now contingent not on making money for its investor clients but on making money for Goldman Sachs.]

Dr Patrick Round has been named chief medical officer and head of development at Xention, a UK biopharmaceutical company discovering and developing ion channel-modulating drugs. Dr Round has worked as senior vice-president at Cambridge Antibody Technology, director of development at Celltech R&D, director of clinical development at Glaxo Wellcome, clinical project manager at Novo Nordisk Pharmaceuticals and chief medical officer at Phoqus Pharmaceuticals.

Phoqus Pharmaceuticals faces the ignominy of winding down its operations or selling itself after trading of its shares on AIM were suspended. The firm's failure to secure a commercial partner for its lead candidate, Chronocort, preceded the suspension.