Lilly partners with Kumquat to discover small molecule IO drug. Kite, Appia Bio collaborate on allogeneic cell therapies. AstraZeneca and Regeneron pursue novel metabolic therapies targeting GPR75. Lexeo and Stelios merge to focus on gene therapies for rare cardiovascular indications.

A study indicates that the Delta variant of SARS-CoV-2 and its sub-lineage Delta Plus can be neutralized by Bharat Biotech’s COVID-19 vaccine, but a federal investigation in Brazil and a class action suit against its US partner have hurt the firm’s global ambitions. Experts weigh in on what the future could possibly hold.

Public Company Edition: This year is just six initial public offerings away from matching 2020’s record-breaking total of 86 biopharma IPOs in the US. Also, Idorsia raised $662.5m through the sale of convertible bonds and Cytokinetics closed a $316.3m follow-on offering. 

The latest drug development news and highlights from the Pink Sheet’s US FDA Performance Tracker