With $250m in series A funding, Cambridge, MA-based Centessa is looking to upend traditional biopharma R&D models. The new company was created through the merger of 10 private biotechs, which will sit under the Centessa umbrella as subsidiaries.

In an interview with Scrip, CEO Saurabh Saha elaborates on the first-of-its-kind R&D model.

Cambridge Innovation Capital completes £150m fundraising to give it more firepower to reinforce Cambridge, UK’s pre-eminent status as Europe’s leading life sciences and tech hub.

The company isn't relaying any details about its drug targets, but will use the mega-round to take its first candidates into the clinic. Also, RiverVest raises a $184.4m VC fund, Annexon closes a $75m Series C, Takeda lists its stock in the US, and Aptorum goes public.