The rival firms are advancing separate biologic candidates that target IL-17 in a bid to treat the more than 60% of hidradenitis suppurativa patients who remain uncontrolled on AbbVie’s Humira, with recent trial readouts showing promise.

A busy start to the year sees the Italian firm adding to its respiratory portfolio by gaining access to the Swedish biotech’s investigational inhaled treatments.

Private Company Edition: Alexis Borisy and his Curie.Bio co-founders will invest $5m-$7m to help companies get to lead optimization within 12-18 months. Also, Feng Zhang-founded Aera launched with $193m, Hexagon Bio raised a $77.3m series B round and Halda emerged with $76m.

Public Company Edition: Structure Therapeutics’ upsized initial public offering raises $161.1m, surpassing proposed terms for up to $134.3m. Also, Pliant capitalizes on good data with a $287.5m follow-on offering, while Magenta seeks strategic alternatives and Instil reveals more job cuts.