Among the latest financing deals, advanced therapeutics such as cell and gene therapies (CGT) continued enjoying the spotlight from venture capital and private equity investors in China. Meanwhile, small molecules with novel mechanism of action such as molecule glue stood out from their peers to win investors’ favor.

Private Company Edition: After just seven venture capital rounds of $100m or more in January and February, five have been announced already in March, including a $200m series A round for Cargo Therapeutics, Chroma Medicine’s $135m series B financing and $112m for Noema’s series B.

Takeda spins out Oak Hill Bio, Lupin and Axantia will co-develop filgrastim biosimilar and Xbiome licenses skin ulcer candidate from Aurealis.

Mersana will help J&J develop antibody-drug conjugates against three targets, while AstraZeneca out-licenses a candidate for peripheral artery disease to Regio.