Tokyo-based Healios will lead the global clinical studies for Athersys’ cell therapy MultiStem for ARDS and start US Phase II trials for trauma following their long-term collaboration.

Restructuring Edition: The industry emerged from the J.P. Morgan Healthcare Conference feeling renewed confidence about deal-making and financing, but drug developers continue to run short on cash or cut programs and jobs before the money runs out, including Cara, PMV and Ikena.

To emerge from a wilderness period or biotech winter where generalist investors shun the sector, biotech’s good news needs to outweigh the bad and be attractively priced. We may not be there yet.

Plus deals involving BioLineRx/GloriaBio, Healios/Athersys, Aurobindo/Hilleman, Lupin/Menarini, GC Biopharma/Immetas, CanariaBio, Specialised Therapeutics, TaiGen/Y.S.P., Nippon/Kayaku/Adlai Nortye, WuXi/PharmaEssentia, Evommune/Maruho and Ono/Adimab.