A mix of mega-rounds and smaller seed financings show investment happening at both ends of the venture capital spectrum. In public company financings, Gilead prices $2bn note offering, Biogen secures $1.5bn for Reata deal, Inhibrx completes a $200m PIPE and the IPO market shows new signs of life.

Aspect says its bioprinted tissue therapeutics include immune-resistant encapsulation, which Novo Nordisk hopes will offer a safer approach to type 1 diabetes cell therapy.

During Q2, biopharma merger and acquisition value reached $25.4bn and drew in $27.3bn in potential deal value from alliances. Device company M&A values reached $2.7bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $534.3m.

Deal Snapshot: In addition to investigating the ADAR1 target with the UK biotech, Exelixis also has optioned a second candidate for non-Hodgkin’s lymphoma under its 2019 deal with Aurigene.