Astellas set to acquire private US firm to add to its strategic capabilities in ophthalmology focus area, along with another revenue pillar as it prepares for Xtandi expiry. 

Public Company Edition: Prometheus brought in $500m from a follow-on offering after reporting positive mid-stage results for its TL1A inhibitor. Even Novavax, struggling to make money from its COVID-19 vaccine, raised cash in dual offerings, but its valuation dropped significantly afterward.

The year to date has been a depressing period for initial public offerings, especially in Europe, but the Madrid-based epigenetics specialist is evaluating whether to head west and list in the US.

Venture capital funding for biotechs remains aplenty even as listed companies’ stock prices drop. Biogen’s Papadopoulos, Fidelity’s Kaul and Gurnet’s and ex-Sanofi Viehbacher deliberate on whether there is a valuation disconnect and if this is the next "tulip mania."