California biotech also notes prior licensing deal with Gilead for mitochondrial candidate. Twentyeight-Seven acquires RNA-splicing cancer candidate from Basilea.

Mereo will reduce its headcount by 40% to focus on its lead programs while NeuBase revealed a 60% workforce reduction to extend its cash runway. Also, Invivyd (formerly Adagio), Greenlight and BioMarin announced job cuts, while Otonomy and others planned strategic shifts. 

Emerging company profile: UK-based NeoPhore, founded in 2017, is developing novel cancer therapies based on DNA-repair technology. The company hopes to follow on from Keytruda's success after Merck's drug won a groundbreaking FDA approval last year based on biomarkers rather than tumor location.

Derived from Strategic Transactions, Informa's premium source for tracking life sciences deal activity, the Venture Funding Deals column provides a comprehensive monthly review of emerging biopharmaceutical companies that have received venture funding. This month’s column covers deals announced June through July 2016.