Bristol Myers Squibb thinks Turning Point’s ROS1/TRK inhibitor shows a best-in-class profile and potential to compete more successfully against Pfizer’s Xalkori than Roche’s Rozlytrek has.

Emergex is preparing to begin a Phase I study of its T-cell priming vaccine, RedHill BioPharma has completed enrolment in a Phase II/III study of upamostat, and Australia is assessing Moderna’s Spikevax for use in 6-11 year olds.

Also, two more health care-focused SPACs went public, Centessa obtained up to $300m in debt, three new venture capital funds launched and Intergalactic debuted with a $75m series A round.

With 88 initial public offerings in the US through the end of the third quarter of 2021, the biopharma industry is two IPOs ahead of the full-year 2020 total, but with an average return of -4% momentum may slow.