The new capital will allow the VC arm to create and finance "a new and larger portfolio of innovative companies that align with the future strategies" of Merck's businesses.

A report from Silicon Valley Bank breaking down 2021 investment trends reveals half-year figures already close to matching those for the whole of 2020 – itself a record-breaking year. In Vivo spoke with SVB’s EMEA head of life sciences and health care for a deeper dive into underlying causes.

Private Company Edition: The latest $100m-plus VC financings include $112.5m for PepGen, Deep Genomics’ $180m series C round and a $166m series D for Rakuten Medical. Also, Lumira Ventures raised a $220m fourth fund and will manage a separate $35m fund backed by Angelini Pharma.

Artios Pharma rides the wave of DDR enthusiasm following the recent signing of big pharma partnerships with a financing to bring its first-in-class cancer treatments into the clinic.