The company is running out of chances for its inhaled interferon therapy after a Phase III study failed to show benefits for hospitalized COVID-19 patients.

Merging with a special purpose acquisition corporation is a viable funding tool, but it may not be the best choice for drug developers far from key milestones.

Private Company Edition: Jeito says its new first fund is Europe’s largest life science-focused fund. Illumina will use its venture capital to support tools, diagnostics, therapeutics and more. Also, IASO closed a $108m series C round and Amolyt raised $80m in series C financing.

Public Company Edition: Almost halfway through the year, initial public offerings equal nearly three-quarters of the 2020 total. Also, Pardes is one of four new SPAC mergers; HUTCHMED launched an IPO in Hong Kong; and Zentalis, Theravance and BioXcel launched follow-on offerings.