French AI-driven drug design firm will employ multiple technology platforms in latest tie-ups. Apellis looks to augment Empaveli-led portfolio in C3 complement R&D alliance with Affilogic.

Private Company Edition: NVCA and Pitchbook data show pharma and biotech companies raised $37.8bn in venture capital in 2021, up 41% from the record $26.8bn total in 2020. Recent mega-rounds include $190m for Maze and $200m for Alumis, and Sound Bioventures raised a €110m fund.

Turkey will found a venture capital fund to acquire promising pharmaceutical start-ups and to support Turkish researchers in the US. The initiative comes from the industry, with support from the Turkish government. It is expected to gather pace after the elections on June 24.

In alignment with the global separation of its Baxalta biopharmaceutical business, Baxter will complete a major reorganization in Turkey by the end of the year that includes the sale of its local serum products portfolio and production equipment to a fast-growing local firm.