2020 has kicked off with a major European biotech deal that will see the Italian conglomerate Angelini take over Switzerland's Arvelle which is on the verge of getting EU approval for an anti-epilepsy drug licensed from SK Bio that got the green light in the US two years ago.

Korea's SK Group expands its biopharma business via a sizable investment in Roivant's protein degradation platform, through which the partners aim to progress candidates in cancer, immunology and neurology, with the first entering the clinic next year.

As the prolonged COVID-19 pandemic continues to take a toll globally, South Korean pharma firms’ overseas drug development activities are increasingly being disrupted by the impact.

Private Company Edition: The flood of venture capital into health care and life science firms continues with Perceptive closing a $1.1bn credit fund and Sanofi investing $50m in Jeito Capital. Also, Ambrx closed a $200m crossover round as biopharma remains on track for a record funding year.