As Takeda pays down debt associated with the acquisition of Shire and advances R&D programs toward global filings, the company is selling its growth plan to investors – but are they buying?

Although SRF813 isn’t likely to reach the clinic until 2021, GSK likes cell therapy’s monotherapy and combination potential. Lilly bids $880m to acquire neurodegenerative cell therapy firm Prevail.

Private Company Edition: Venture capital invested in pharma and biotech in 2020 totaled $19.5m through Q3, just $400m below the full-year record total of $19.9bn in 2018. Also, Canaan and Catalio reveal new VC funds, while Talaris’s $115m series B leads recent financings.

Pharma pays $100m up front and makes $20m equity investment for rights to three preclinical cancer programs. Plus more than 20 deal summaries, including COVID-19-related transactions.