Just three biotech companies floated in the last three months of 2023, but there may be hope for a resurgence next year.

Public Company Edition: Structure Therapeutics’ upsized initial public offering raises $161.1m, surpassing proposed terms for up to $134.3m. Also, Pliant capitalizes on good data with a $287.5m follow-on offering, while Magenta seeks strategic alternatives and Instil reveals more job cuts.

Among other Asia deals, Takeda adds to pair of recent gene therapy tie-ups with a CNS-focused cell therapy partnership with Immusoft; earlier it licensed ex-US rights to JCR’s Hunter syndrome drug.

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.