Public Company Edition: Benefitting from hope that biopharma interventions will help the coronavirus pandemic, the industry is faring better than others in the stock market, including the ability to launch IPOs. Also, BridgeBio leads recent financings and PDL is on track to dissolve by year-end.

German TCR developer in partnerships with GSK and BMS will go public and receive $252m at closing in a reverse merger-type transaction with Arya.

Genentech pays $30m up front in a collaboration with Bicycle in a deal that could bring the UK biotech roughly $1.7bn in total. Also, deals involving Nimble, Seattle Genetics, Five Prime, Fresenius, Vifor, Yuhan, Imnewrun, Paratek, Almirall, MBD, AzothBio, Norgine, Faes, Aspen Pharmacare, Swixx.

Deal Snapshot: GSK obtains rights to two of Immatics’ TCR targets, following on the German firm’s similar deals in recent years with Celgene, Genmab and Amgen.