Deal Snapshot: Pipeline gets $50m up front and a $25m equity investment in exchange for global rights to an M1 receptor antagonist cleared to move into Phase II in relapsing/remitting MS.

Phase III results for Eisai/Biogen’s lecanemab are the main event at the Clinical Trials on Alzheimer’s Disease meeting, but other data – even Roche’s failed Phase III gantenerumab studies – also may have implications for the amyloid-clearing antibody. 

Private Company Edition: In the latest round of $100m-plus venture capital financings, CG Oncology, MBX Biosciences and Jnana Therapeutics raised $120m, $115m and $107m, respectively. Also, MVM Partners closed a $500m fund and former Sage CEO leads incubator ABio-X in Massachusetts.

Red Tree Venture Capital closed its first fund with $272m for biotech companies emerging from academic and research institutions, seeking to fill a need for early-stage funding on the West Coast.