Public Company Edition: Denali, Crinetics and Ocular Therapeutix grossed $500m, $350m and $325m, respectively, in private placements ahead of data readouts. Also, Viking raised $550m after its positive Phase II obesity data and Abingworth invested $210m in Gilead’s Trodelvy NSCLC trials.

The companies have partnered on the development of RIPK1 inhibitors for multiple indications since 2018, but have yet to see success, having discontinued one of three drugs already.

The group’s gene therapy reduces saccharide levels in the rare childhood disease known as Hunter syndrome, but a confirmatory trial will be needed.

Eisai is testing its anti-tau antibody in combination with the anti-amyloid therapy Leqembi, and earlier-stage programs targeting TrkA, EphA4 and TREM2 offer new approaches and combo potential.