In immuno-oncology and beyond, Chinese investors are setting their sights on new targets in the biopharma arena.

Public Company Edition: Legend Biotech raised $424m in its US public market debut. Also, Pfizer commits up to $500m for equity investments and Allogene capitalizes on ASCO with a $550m offering.

Cara Therapeutics and licensee Vifor Pharma have released positive topline data from the KALM-2 study in chronic kidney disease patients with moderate-to-severe pruritus undergoing hemodialysis, using a first-in-class selective kappa opioid receptor agonist which does not enter the CNS.

With Foamix merger closing soon, Menlo’s serlopitant failed a Phase II trial in chronic pruritus of unknown origin, but the firm said a Phase III program in prurigo nodularis shouldn’t be affected. Its share in the new company is contingent on the PN data.