Just over a month after raising $97m in a series B round, Oxford University spinout MiroBio and its immune checkpoint agonists have been snapped up by Gilead Sciences. 

The Irish firm’s cannabis-derived nabiximols spray missed the primary endpoint in a late-stage multiple sclerosis spasticity trial, but it is unfazed as hopes remain for two ongoing spasticity studies.

A NASDAQ listing has been the pinnacle for non-US biotech companies because it brings access to more specialist investors and a larger capital base. But the appetite for – and aftermarket performance of – this biotech tourism is cycle-dependent.

Dr Reddy’s enters high-potential medical cannabis fray with the acquisition of Nimbus Health in Germany. The segment has seen a flurry of activity over the recent past, including the $7.2bn acquisition of pioneer GW Pharmaceuticals.