Private Company Edition: IPOs and M&A are returning money to investors, who are putting that money into new investments. Also, the mega-push in VC mega-rounds continues, including $105m for Kronos, and RA Capital raises it first VC fund.

The Dutch biotech's CEO tells Scrip that one-week treatment with T-Guard could change the paradigm for tackling steroid-refractory graft-versus-host disease.

Suzhou-based immuno-oncology specialist CStone raised a $260m Series B round and Brii launched with $260m in Series A cash to develop drugs for the China market. Also, multiple start-ups launched recently with more than $50m in Series A rounds, including Ansun, Beam, Casma, Celsius and Neurana.

Private Company Edition: Celgene's former top deal-maker George Golumbeski is now a life science business consultant and venture partner at ARCH. Also, a VC investment surge portends another big year for biopharma, including $85m for Ansun and $66m for FogPharma.