Private Company Edition: In the latest round of $100m-plus venture capital financings, CG Oncology, MBX Biosciences and Jnana Therapeutics raised $120m, $115m and $107m, respectively. Also, MVM Partners closed a $500m fund and former Sage CEO leads incubator ABio-X in Massachusetts.

GSK is the first to raise the functional cure rate with its antisense drug, Phase II data suggest, but the company is looking for ways to boost responses across hepatitis B patients in its Phase III study.

Public Company Edition: Direct Biologics, YishengBio and Estrella Biopharma will go public by merging with special purpose acquisition corporations. Also, Vir lands a government contract worth up to $1bn, Idorsia raises CHF164m ($167.4m) in a real estate deal and Adamis reviews alternatives.

Some products are still going strong, while others that once generated blockbuster revenues have faded away, as companies develop next-generation antivirals and vaccines.