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.

ARCH closed a $3bn VC fund to end the month of June while in the same week six public biopharma firms said they are cutting jobs. Even so, some publicly traded companies have been able to launch sizeable offerings, including a $450m note sale by Cytokinetics and Xenon’s $250m follow-on. 

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.

The company’s lipid nanoparticle technology can deliver mRNA, gene editing and other cargoes to multiple cell and organ types. ReCode aims to expand its pipeline beyond lung diseases.