During Q2, biopharmas brought in an aggregate $12.5bn in financing and device company fundraising totaled $3.7bn; while in vitro diagnostic firms and research tools players raised $720m.

AbbVie inks collaboration and option deal focused on targeted protein degradation with Plexium. Cend and Calabrius merge in an all-stock transaction.

Private Company Edition: In other venture capital mega-rounds, Aurion brought in $120m, Sionna launched with $111m and Irish firm Renexxion said a private equity group committed up to $100m in total investment to be made within 36 months of a future public listing. 

The Massachusetts-based biotech’s fundraise will be used to discover and develop molecular glues with an initial focus on cancer targets.