ARCH closed a $3bn VC fund to end the month of June while in the same week six public biopharma firms said they are cutting jobs. Even so, some publicly traded companies have been able to launch sizeable offerings, including a $450m note sale by Cytokinetics and Xenon’s $250m follow-on. 

The US firms have added to a growing number of struggling biotech companies that are selling off future royalties to help push promising drug candidates past the finish line.

The US FDA’s use of its advisory committees continues to shrink. In 2022, the expert panels appear primarily to serve as a last chance for sponsors to prevent (or overturn) an FDA rejection.

Plus deals involving Shionogi/NEC, Ji Xing/LENZ, Kyowa Kirin/Ardelyx, CR Pharma/Everest Medicine and Dr Reddy’s/Novartis.