Private Company Edition: Jeito says its new first fund is Europe’s largest life science-focused fund. Illumina will use its venture capital to support tools, diagnostics, therapeutics and more. Also, IASO closed a $108m series C round and Amolyt raised $80m in series C financing.

The European Medicines Agency has added nine new products to its latest list of medicines that are under review for potential EU marketing authorization.

Lilly partners with Kumquat to discover small molecule IO drug. Kite, Appia Bio collaborate on allogeneic cell therapies. AstraZeneca and Regeneron pursue novel metabolic therapies targeting GPR75. Lexeo and Stelios merge to focus on gene therapies for rare cardiovascular indications.

More than half of the complete response letters issued for applications holding breakthrough status have been issued since 2020, reflecting difficult – and often rancorous – efficacy debates.