Syncona has stepped in to save Freeline and give it more time to prove the value of FLT201, its early-stage Gaucher’s disease gene therapy.

Public Company Edition: PTC sold more of its Evrysdi royalties to Royalty Pharma for $1bn. Abivax gained $235.8m in an IPO and concurrent private placement, while Cerevel grossed $450m and Nuvalent and Ultragenyx raised $300m each in follow-on offerings, but Freeline is reviewing strategic options.

Avrobio is facing up to the reality of investor skepticism about gene therapy platforms and business models – but can it find a buyer or merger partner to start again?

Private Company Edition: Vertex Ventures (not Vertex Pharmaceuticals) closed its third fund, with $200m for life science and medical technologies, while Chugai’s $200m corporate VC fund will invest in drug discovery start-ups. Also, K36 closed a $70m series B round and Attovia launched with $60m.