Also, two more health care-focused SPACs went public, Centessa obtained up to $300m in debt, three new venture capital funds launched and Intergalactic debuted with a $75m series A round.

The deal leaves PRX004 in the capable hands of Novo Nordisk, which is hoping to expand beyond obesity and diabetes, while Prothena can focus on the rest of its pipeline.

The biotech sector is awash with capital and the rise of the virtual roadshow is breaking down geographic barriers, giving European firms a better chance to impress US investors.

Private Company Edition: Nine new venture capital mega-rounds include Insilico’s series C, $250m from Blackstone for a CAR-T therapy spinout from Intellia and a $210m series B round for Umoja.