Private Company Edition: The amount of venture capital raised by biopharma firms fell but individual companies grabbed a lot of cash, making for a remarkable Q2 relative to pre-pandemic times. Recent Q3 rounds includes Frontera’s $160m series B. Also, Oxford Science Enterprises added €250m to its fund.

Financing Snapshot: The company announced a $100m series B round that it plans to use to develop its regulatory RNA platform technology, with an eye toward entering the clinic in mid-2023.

Pharma moves Phase III-ready antibody to prevent pneumonia to Aridis, licenses preclinical STING inhibitors from F-star. Sanofi teams with SRI on AI-directed discovery, Biogen licenses BTK inhibitor from InnoCare.

Private Company Edition: Nine new venture capital mega-rounds include Insilico’s series C, $250m from Blackstone for a CAR-T therapy spinout from Intellia and a $210m series B round for Umoja.