Deal-making between big pharma and biotech looks set to rise with a looming patent cliff increasing the need for the former to replenish its pipelines. Meanwhile, biotechs need partners to help them advance amid the ongoing big freeze on raising cash on public markets.

Terns raised an $80m Series B round for NASH and cancer programs, while 89Bio launched with a $60m Series A to fund drugs for NASH and other liver and metabolic diseases. Also, Stoke leads recent VC deals with $90m Series B.

New appointments have been announced this week by Basilea, BenevolentAI, OMEICOS Therapeutics, Pharnext, Recursion Pharmaceuticals, Sonde Health, Takeda UK, Bone Therapeutics and Glythera.

Also, Advicenne doubles its fundraising to date; Michael Gilman-helmed Arrakis raises a $38m Series A; Breath spins out with $46m; and Spero gets $51.7m for novel antibacterials.