Public Company Financings: Theravance sold its 85% interest in Trelegy royalties from GSK and Innoviva sold its 15% interest for up to $1.8bn in total. Also, ProKidney grossed $597m from its SPAC merger, Pliant raised $200m in a post-Phase IIa offering and Marinus earned $110m in a PRV sale.

The company is pushing ahead into Phase III development with the lower dose of an oral drug for ulcerative colitis, even though a Phase II study missed the primary endpoint.

The company plans to release topline results this year in ulcerative colitis and pulmonary arterial hypertension. In UC, especially, Gossamer is aiming for an opportunity that remains untapped.

ImmPACT Bio is advancing three CAR-T technology platforms that aim to address problems such as antigen escape, off-target toxicities and the immunosuppressive tumor microenvironment.