Plus deals involving Bristol Myers Squibb/Avidity, Aexon/NLS, Boehringer Ingelheim/Phenomic AI, AnaptysBio/Centessa and Biodexa/Adhera/Melior.

The Ireland-headquartered firm will advance the candidate into US and EU narcolepsy studies as part of its pipeline diversification project as portfolio products are set to lose their patent exclusivity.

IPO Edition: Sana leads the group with a $587.5m initial public offering, while Immunocore and Bolt follow with $200m-plus IPOs. The 10 newly public companies generated a 43.3% average return on 8 Feb.

Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.