The UK major has teamed up with the US biotech to develop the latter’s HER-2 targeted antibody-drug conjugate, a couple of years after the approval of Blenrep, in what is becoming an increasingly competitive space.

Deal Snapshot: The fungi-derived medicine firm signed a three-candidate discovery and development deal with GlaxoSmithKline, which also contributed to its $175m series C round.

Private Company Edition: The pre-J.P. Morgan Healthcare Conference financing news deluge during the first week of 2021 included several significant venture capital deals, including a $226m series B round for Affinivax, Ikena’s $120m series B round and an $88m series A round for Aro.

Manufacturers are finding it harder to innovate in the vascular interventional devices as market and regulatory pressures take their toll. New coronary drug-eluting stents face a difficult challenge with the high bar now set by existing devices, and there have been several recent disappointments in renal denervation, drug-coated balloons, and renal artery stenting; still there are some promising areas, with bioresorbable stents offering perhaps the best prospect among vascular therapies for future blockbuster status.