Chinese developers are racing to roll out bispecific ADCs with different target combinations, while a Biokin/SysImmune executive estimates more than $20bn in annual sales for the company's BMS-partnered EGFR x HER3 candidate, as R&D in the field continues to surge ahead in China.

Quotient Therapeutics is the fifth new start-up unveiled by Flagship this year, and will be co-located in the US and UK to tap into leading academic genomic expertise.

Private Company Edition: Quarter-over-quarter increases in venture capital have been bolstered by fewer but larger rounds, like the recent $245m series A for Aiolos. Also, OrbiMed raised $4.3bn across three new VC funds, Rampart completed an $85m series A and Atom Bioscience raised an $83m series D. 

In the private market, eight Chinese biotechs raised a combined $116m in deals backed by venture capital and private equity firms over the past few weeks.