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 biomanufacturing firm National Resilience has raised more than $2bn in venture capital and millions more in fees from government and industry contracts since 2020. Also, Code Biotherapeutics raised $75m in series A cash, Concert grossed $66.4m and Amarin is cutting US jobs. 

A missed primary endpoint in new top-line results from a Japanese trial with the stem cell therapy for stroke MultiStem hits Athersys and Japanese partner hard, casting a shadow over ongoing studies. 

Licensing deals and partnerships carried the day during another hectic J.P. Morgan Healthcare Conference. Pfizer racked up its third deal of the week in a cancer collaboration with Dren Bio.