Silicon Valley Bank data show a pullback in crossover financings but an increase in seed and series A venture capital rounds. In recent private company financings, CRO Novotech raised $760m. In public company financings, Eleusis will merge with a SPAC and the Bausch + Lomb IPO is on file with the SEC.

Despite no mega-deals (yet), the J.P. Morgan Healthcare Conference’s first day brings the usual flurry of deals, including a pair of tie-ups each for Bristol and Pfizer. BioNTech moves into cancer with Crescendo.

Daily notebook from the virtual J.P. Morgan Healthcare Conference: business development is top of mind for BMS, Merck, J&J and Pfizer, while Novartis, Moderna and Regeneron talk about next steps. Bayer looks to minimize Xarelto patent expiry, a new chief exec debuts for Alnylam and EY suggests 2022 will be another year of bolt-on deals. 

Daily notebook from the virtual J.P. Morgan Healthcare Conference: business development is top of mind for BMS, Merck, J&J and Pfizer, while Novartis, Moderna and Regeneron talk about next steps. Bayer looks to minimize Xarelto patent expiry, a new chief exec debuts for Alnylam and EY suggests 2022 will be another year of bolt-on deals.