Roche’s checkpoint inhibitor has been approved in combination with nab-paclitaxel in the EU for triple-negative breast cancer, cementing the company’s role as an innovator in breast cancer therapies.

Private Company Edition: General Partner Clay Thorp says the venture capital firm's longtime focus on seed and early-stage investments is unchanged and bolstered by market fundamentals. Also, Talaris and insitro each raised $100m Series A rounds, plus other financings.

After a week of speculation as to who will succeed US FDA Commissioner Scott Gottlieb when he steps down next month, Health and Human Services Secretary Alex Azar announced during a congressional hearing that National Cancer Institute Director Ned Sharpless will step in as acting commissioner. One note of medtech interest in Sharpless' bio: he was a co-founder of a diagnostics company.

Public Company Edition: Eli Lilly & Co. wasted no time spinning out its animal health business Elanco, which raised $1.5bn in its public debut. Also, as the biopharma IPO tally rises, Vivo Capital launches a new public life science company fund. Meanwhile, Concordia completes its recapitalization.