Private Company Edition: Arvelle, insitro, AbCellera and the University of Michigan have something in common – they each attracted more than $100m in venture capital investment.

The deal worth up to $576m gives Merck what Calporta founding investor Avalon believes is the most advanced program targeting TRPML1, a lysosomal ion channel implicated in neurodegenerative diseases when the lysosome stops clearing debris from cells.

Anixa obtains cancer vaccine targeted to proteins common in breast cancer from Cleveland Clinic. Arxx licenses Cancer Research UK antibody that targets tumor microenvironment.

Building on research by Dana-Farber professor Wayne Marasco, the partners are backing a bispecific approach to CAR-Ts in solid tumors. Seelos licenses a Parkinson’s gene therapy candidate from Duke.