J&J will pay about $6.5bn to acquire Momenta and its potential “pipeline in a pathway” with nipocalimab. Analysts expect this deal may lead to further M&A activity in the anti-FcRn space.

Private Company Edition: Polaris is raising up to $400m for its next tech and health care fund, following in the footsteps of several life science investors this year. Also, Nevakar raises $50m in a product financing agreement and RAPT closes a $37m series C extension.

Leading US biotech Alexion is to collaborate with two European biotechs, Affibody and Zealand, on early-stage products for rare diseases, involving bivalent antibody-mimetic scaffolds and novel peptides.

Alexion thinks Dicerna’s RNAi technology could address complement-mediated conditions further upstream from antibodies like Soliris. AbbVie takes over CF collaboration with Galapagos, paying $45m up front.