MIG Capital’s Matthias Kromayer looks back at the huge success of its long-term backing of BioNTech and discusses the group’s next big life sciences investments, but warns that realism and hard work are needed to achieve another breakthrough.

VBI Vaccines obtained FDA approval of its three-antigen hepatitis B vaccine PreHevbrio and will take on GSK’s Engerix-B and Dynavax’s Heplisav-B as CDC recommends universal HBV immunization.

Another hard-to-explain result in Alzheimer’s, with AC Immune claiming the first ever validation of anti-tau therapy, but others are more circumspect.

With a CD8-targeting IL-2 mutein as its lead program, the start-up is developing cis-targeted immunotherapies that selectively target two molecules on the same immune cell for improved efficacy and safety.