Private Company Edition: Panelists at Biocom’s Global Life Science Partnering Conference noted a shift in the types of early-stage drug developers getting venture funding going forward. In recent financings, Synthego closed a $200m series E and Plexium raised $102m.

The Takeover Panel is stepping in to oversee an auction process after two revised offers in recent days from rivals Philip Morris and Carlyle upped the ante in the bidding war for the UK respiratory company.

Buying the UK inhalation specialist Vectura will be key to the transformation of Philip Morris International as it looks to reduce its reliance on smoking products, CEO Jacek Olczak has declared.