Licensing serves as a strategic R&D avenue for major developers amid a shrinking M&A market. In Vivo has detected five high-value unpartnered assets that might be the focus of dealmaking activity in the coming months. 

Public Company Edition: Arvinas grossed $350m in a private placement, while Xenon brought in $345m and Pharvaris raised $300m in follow-on public offerings. Fundraising remains challenging, however, so IGM Biosciences, Hansa Biopharma and other companies cut costs to save money.

The company said two Phase II programs – NBI-921352 in focal onset seizure and NBI-1065846 in anhedonia – failed. It is investigating potential read-through to another seizure disorder for ‘352.

Leaders from three companies that have managed to achieve successful turnarounds offered some advice and encouragement to biotechs weathering the current financial downturn at the recent Jefferies Healthcare conference in London.