Public Company Edition: Seven companies revealed $2.1bn worth of royalty financings in the first quarter of 2023 and the deals keep coming in Q2, with uniQure monetizing Hemgenix royalties for up to $400m. Also, Legend grossed $350m in a follow-on offering and Athenex is liquidating via bankruptcy. 

Shin Nippon Biomedical Laboratories would take over migraine candidate STS101, now under FDA review. Blue Water Vaccines to pick up BPH drug from Veru.

Private Company Edition: Forbion closed two funds totaling €1.35bn ($1.5bn) and Glide Healthcare raised €600m ($657.5m) for its latest fund, joining recent venture capital raises by Lux Capital and Wellington Management, but in the first quarter biopharma VC company financings fell dramatically.

Restructuring Edition: After reporting record revenue, but lower profits due to rising costs, Ferring has decided to consolidate R&D in Europe. Also, Codiak has filed for Chapter 11 bankruptcy and will sell off its assets, while Exicure, Applied Molecular Transport, Gamida Cell and others revealed new job cuts.