Gene and cellular therapies that can replace decades of expensive therapy do not come cheap. Even the initial remedy of payment by installments could be irrelevant when not all patients respond in the same way.

Eyeing a largely untapped treatment area and huge patient pool, biotechs in China are leaping into the gene therapy foray despite the lack of a distinct regulatory pathway or reimbursement of the highly costly treatments.

Focused on precision medicine for renal disease, Chinook gets Aduro’s Nasdaq listing and starting capital of $200m. During a wave of modest-sized M&A deals, Tetra finds buyer, Tetraphase gets competing bids.

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.