Forte Biosciences’ attempts to use a new approach to treating inflammatory skin disease using a topical live biotherapeutic, FB-401, have come to a crashing halt at Phase II. Where the company goes next remains to be seen.

Former Novartis CEO Jimenez co-founded Aditum with former NIBR president Mark Fishman; they raised $133m and are launching Tempero Bio. Also, Atea, Galecto and SQZ went public along with one more health care SPAC, Royalty Pharma upped its Vertex royalty revenues and Mirati’s FOPO raised $926.3m.