Private Company Edition: Biomedtracker found that 53% of financings during the first quarter were venture capital deals versus 32% in Q1 of last year. Also, Qiming closed a $260m fund, Transition Bio raised a $50m series A round, ProfoundBio completed a $70m series A+ and MycoMedica raised $60m.

The Dutch firm’s dream to become the number one antibody drug conjugate technology provider by 2023 has been bolstered by a flurry of recent strategic collaborations, including one with MacroGenics.

After the anti-PD-1/L1 antibody and cell therapy rush, antibody-drug conjugates are quickly gaining attention in China as new technologies and deal-making activity heats up, but one first mover warns of potential over-crowding.

Private Company Edition: With $8.9bn raised in the second quarter, venture capital investment in biopharma companies reached its second highest quarterly total to date – behind only Q1 of this year. Also, Nimbus Therapeutics raised $105m and European drug developers get in on the VC action.