Monjuvi is still struggling to make progress commercially and the hopes of lucrative royalty streams from partners Roche and GSK have dried up but MorphoSys is keeping faith in its fully owned pipeline.

Human Immunology Biosciences (HI-Bio) launched with $120m and two candidates from MorphoSys, including the CD38 inhibitor felzartamab already in the clinic for immune-mediated kidney diseases.

Private Company Edition: Third quarter venture capital funding for biopharmaceutical firms fell from Q2, but activity remains near all-time highs year-to-date. Several companies announced VC financings in early October, including Ascidian, which launched with $50m in series A financing.

During Q2, biopharmas brought in an aggregate $12.5bn in financing and device company fundraising totaled $3.7bn; while in vitro diagnostic firms and research tools players raised $720m.