One of the best-attended sessions at the BIO meeting in San Diego saw psychedelics specialists weighing up the sector's chances of breaking taboos and getting to market.

Already owner of about 60% of the troubled antibiotic firm, Innoviva agrees to pay $2.20 per share for all outstanding stock in Entasis. Roche, KaliVir partner on oncolytic virus therapies.

The Danish diabetes titan teams with Moderna’s founder on cardiometabolic R&D. Troubled cell therapy biotech Bone Therapeutics negotiates reverse merger with Medsenic.

Emerging Company Profile: The British biotech, co-founded by experimental researcher Lady Amanda Feilding, is developing psychedelics therapeutics for a rare but debilitating headache disorder and mental health disorders.