Shuttle Pharmaceuticals and PaxMedica launch two small initial public offerings in the US as the market awaits a significant IPO. Also, Assertio closed a $70m follow-on offering, Codiak restructures and cuts jobs, and Vilya emerges with $50m in series A venture capital. 

Sio Gene, Genocea, Solid Biosciences, Saniona and Black Diamond join First Wave, Zosano, Vallon, Finch, Magenta, ProQR and Imara on the growing list of biopharma firms reducing headcount to make their cash last until valuations return to a level that may support new fundraising. 

Biopharma executives from India and Japan discuss the need for enhanced “alignment” on the regulatory front, including exploring the possibility of a mutual recognition agreement as the two nations seek to expand biopharma partnering efforts and also build supply chain resilience.

The $300m upfront payment should provide considerable runway for the base-editing company, which also plans multiple IND filings and enrolling the first patient in its sickle cell study this year.