Private Company Edition: XtalPi raised $318.8m for its AI-based drug discovery platform and machine learning-enabled Flagship start-up Valo Health has brought in nearly $100m. XtalPi had one of three recent venture capital mega-rounds for China-based companies.

Deal news from Bayer, Nuvisan, Inamed, BioMotiv, Bristol-Myers Squibb, Collegium, Assertio, Merck & Co., KalVista, Atreca, Coda, Attenua, Aimmune, Xencor, EyePoint, Equinox, Allergan, Nestle, Zealand, Valeritas…

Public Company Edition: Five out of six drug developers and a CRO have seen their values spike immediately after going public this month. Also, Moderna floats a $500m offering, Revance proposes a $20m note sale, and Nestle invests another $200m in Aimmune.

Although only a few companies commented on the FDA's draft guidance on the benefit/risk assessment of new opioids, they cut against conventional wisdom by supporting the agency's desire to see active comparator data.