Private Company Edition: In recent weeks, 19 companies disclosed venture capital funding of $20m or more, including FogPharma with a $178m series D round and Apogee’s $169m launch. Also, Avalon BioVentures spun out of Avalon Ventures with a $135m fund.

Among the strong performers, Hanmi benefitted from growth for in-house-developed metabolic disease drugs and China cold syrup sales and Daewoong was boosted by exports of botulinum toxin, while Boryung reported record quarterly sales helped by its flagship antihypertensive.

Public Company Edition: Mergers with special purpose acquisition corporations also continue to take companies public, with three new SPAC offerings in late 2021. Also, Xeris raised $30m in a private placement of stock to support its recently approved drug and Sirnaomics went public in Hong Kong.

Public Company Edition: Genenta, Cingulate, ImmixBio, Bionomics and NeuroSense launched initial public offerings, grossing just $118m between them. But Amylyx, with a recently filed ALS drug, has filed to raise up to $100m. In follow-on offerings, Legend took advantage of ASH goodwill to raise $300m.