Private Company Edition: In recent weeks, 19 companies disclosed venture capital funding of $20m or more, including FogPharma with a $178m series D round and Apogee’s $169m launch. Also, Avalon BioVentures spun out of Avalon Ventures with a $135m fund.

After a year of strong commercial performance for Lybalvi and with IL-2 drug nemvaleukin in registration-enabling studies, Alkermes is ready to separate its neuroscience and oncology businesses. 

The French major saw strong Q3 sales and raised its business guidance accordingly, but the discontinuation of an early-stage trial has added to a growing list of setbacks the firm has faced in reviving its oncology pipeline.

Having led $30bn of acquisitions of companies at Sanofi, the new challenge for its former global head of partnering is to help make Owkin, “the most disruptive AI biotech company in the world,” he tells Scrip.