Sarizotan, licensed from Merck KGaA in 2011 for Rett syndrome, was seen as a potential gamechanger for Newron but the termination of the project leaves a huge hole in the Italian group's pipeline.

Aspen Neuroscience, Pandion and iTeos raised $70m, $80m and $125m, respectively. Also, Glide Healthcare closed a €416m ($450m) fund; ElevateBio, Kallyope and SutroVax reveal VC mega-rounds; and Dragonfly adds new funding to its partnering proceeds. 

The Italian firm has some talking to do with the US FDA before it can unblind Phase III data on sarizotan, its Rett syndrome therapy which could be "potentially transformative" for Newron.

Revised agreement of 2016 collaboration returns all vopratelimab rights to Jounce. Gilead fortifies antiviral pipeline in deals with Novartis, Durect.