Perrigo has expanded its agreement with Sol-Gel Technologies to cover ten products, shortly after warning that plans to separate the firm’s Prescription Pharmaceuticals US generics unit “in the short term” would likely “destroy shareholder value.”

Private Company Edition: Kymera said it will take up to three programs into the clinic by next year. Also, three new life science funds recently launched, including a Gates Foundation-backed accelerator for COVID-19 treatments, and Cell Medica reemerges as Kuur with new funding for CAR-NKT therapies.

Seven biopharma IPOs launched in the US in January with an average return of 52.8%. The most recent was Sol-Gel's on Jan. 31, but the largest was a $128m offering by ARMO. Solid had the most controversial IPO, but it still gave investors a 70.7% return, contributing to the question: Is biotech in a bubble?

With an average return of 33.2% in 2017, the number of biopharma IPOs that launched last year rose to 42 after falling to 30 in 2016 compared with 62 in 2015. Following a rough fourth quarter for biopharma stocks, will the IPO momentum continue in 2018?